Balance transfer credit card guide

If done properly and carefully, balance transfer credit cards will help manage credit card debt that is spread across several cards. Each balance transfer credit card is different, so know the balance transfer basics, but there are several benefits. By having fewer accounts, the monthly amount spent on reducing debt can be concentrated, and in some cases increased. Most balance transfer cards offer a 0% APR for balances transferred. This is usually only available when the consumer is approved, so having the other accounts' information available is important. Still more balance transfer credit cards offer an overall lower APR, freeing the user from unfavorable existing long-term rates.

Balance transfer cards are often not for general use—just as each consumer's situation varies, the benefits of the cards also change. No card is perfect, creating many balance tranfer pitfalls—there's always a trade out between benefits. Often, those cards with longer intro periods lack in other benefits. Another factor to consider is the balance transfer transaction fee. Many cards have this charge, which is typically around 3% of the transferred balance. This is added to the consolidated balance, so it should be considered when transferring large amounts.

Below is our list of the best balance transfer credit cards available online. Be sure to check all terms and conditions before applying.

Discover® More® Card

0% APR on Balance Transfers for a FULL 12 months 0% APR on Purchases for a FULL 6 months 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants and more Up to 1% unlimited Cashback Bonus on all other purchases automatically No Annual Fee

Citi® Platinum Select® MasterCard®

0% APR* on balance transfers and purchases for up to 12 months No annual fee Citi® Identity Theft Solutions $0 Liability on unauthorized purchases Secure, free online account management Extra Cash from Citi: enjoy significant discounts on gift cards, travel, merchandise and more

Citi® Diamond Preferred® Rewards Card

0% APR* on balance transfers for up to 12 months 5 ThankYou® Points for every $1 spent on purchases at supermarkets, drugstores and gas stations for 12 months, 1 ThankYou Point thereafter* 1ThankYou Point for every $1 spent on all other purchases* $0 Liability on unauthorized purchases No annual fee

Discover® More Card - $50 Cashback Bonus®

0% APR on Balance Transfers for a full 12 months 0% APR on Purchases for a full 6 months Get $50 Cashback Bonus after your first $599 in purchases Up to 1% unlimited Cashback Bonus on all other purchases automatically No Annual Fee

Discover® More® Card – Black Monogram

0% APR on Balance Transfers for a full 12 months 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants and more Up to 1% unlimited Cashback Bonus on all other purchases automatically No Annual Fee

Discover® More Card – Shamrock

0% APR on Purchases for a full 9 months 0% APR on Balance Transfers for a full 12 months 5% Cashback Bonus in categories that change like travel, gas, groceries, restaurants and more Up to 1% unlimited Cashback Bonus on all other purchases automatically No Annual Fee

Miles by Discover® Card

12,000 Bonus Miles - 1,000 Bonus Miles each month you make a purchase for your first year Double Miles on travel and restaurant purchases. One Mile for every dollar on all other purchases Flexible redemption options for travel, gift cards, or cash Double Miles through our exclusive online shopping site

Discover® More Card - American Flag

0% APR on Balance Transfers and Purchases for a full 6 months 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants and more Up to 1% unlimited Cashback Bonus on all other purchases automatically No Annual Fee

Discover® Motiva Card

Pay-On-Time Bonus equal to a full month's interest every time you make 6 on-time payments in a row Up to 1% unlimited Cashback Bonus® on all other purchases 5% to 20% Cashback Bonus® through our exclusive online shopping site

Discover® Open Road Card

Double Cashback Bonus at any gas station and any restaurant 5% to 20% Cashback Bonus at top retailers through our online shopping mall Up to 1% unlimited Cashback Bonus at top retailers through our online shopping mall Redeem for Partner gift cards, merchandise, Discover® gift cards, credit to your Discover card account or an electronic deposit to your bank account Turn your Cashback Bonus into bigger rewards by redeeming for gift cards or eCertificates from over 100 brand-name Partners