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Top 3 Balance Transfer Cards

Thinking of a balance transfer? These cards are your best bet
Saranya
Saranya Das Sharma

June 23, 2020

Credit Cards
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All content is written by editorial staff or writers engaged by the site, not by marketers/sales staff. Editors responsible for producing the content are not in contact or affiliated with any advertiser and are not compensated based on success of the affiliate links. All decisions regarding recommendations are determined separately from advertising relationships. Any opinions, analyses, reviews or recommendations expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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If you are planning on initiating a balance transfer, it is important to have the right credit card to do so. However, with a wide variety of cards available in the market, making a decision can be confusing. Here are our top three picks.

 

American Express Blue Cash Preferred Card

This card is perfect for people looking for a cashback card with simple benefits on everyday purchases like gas and groceries. It has no annual fee, making it a great option for earning rewards, and a long balance transfer period.

  • Balance transfers: 0% intro balance transfer APR for 15 months. 0% APR is also available for purchases at the same time. However, it has a 3% balance transfer fee
  • Welcome bonus: $200 cashback if you spend $1,000 in the first 3 months
  • Annual Fee: $0
  • Rewards: 3% cashback at US supermarkets (up to $6,000 annually, 1% after), 2% cashback from gas stations and select department stores and 1% on all other purchases 
  • Other Perks: Travel insurance, car rental insurance, Global Assist Hotline Access, access to ShopRunner (free 2 day shipping on eligible online stores), exclusive access to ticket presales and member-only events, fraud protection

 

HSBC Gold Mastercard Credit Card 

This card is good for people looking for a basic credit card with a simple rewards program. It also extremely travel friendly, with no foreign transaction fees and no penalty APR. It has one of the longest introductory periods for 0% APR for balance transfers, creating a lot of flexibility to perform your balance transfer. 

  • Balance transfers: 0% intro APR on balance transfers and purchases for 18 months. 4% balance transfer fee
  • Annual Fee: $0
  • Benefits: Comes with Priceless Cities, which provides exclusive experiences in various cities as well as access to select golf courses and PGA tournaments. You also receive MasterRental coverage, which provides protection from theft and damage of rental vehicles. You get access to Mastercard ID Theft protection, a free FICO credit score and a 15% discount on an airport Meet-and-Greet service through Mastercard Airport Concierge

 

Citi Double Cash Card 

This card is good for everyday shoppers who want twice the cashback and a simplistic revenue structure. You will also get rewards for payments made on time. Its intro balance transfer period of 18 months is one of the best in the market 

  • Balance Transfers: 0% intro APR on balance transfers and purchases for 18 months. 3% balance transfer fee 
    • Annual Fee: $0 
  • Rewards Program: 2% on all purchases. 1% of the cashback is received when the purchase is made and the remaining 1% cashback when bill payments are made. No cash back on balance transfers. Making minimum payments on time really makes this rewards rate great
  • Extra benefits: Access to the Citi Entertainment portal with special opportunities for events, concerts, sports games, restaurants, etc. Access to 24-hour customer service and fraud protection, as well as no liability for unauthorized purchases. It is also a contactless card 

 

Conclusion

Therefore, when looking for a balance transfer card, you should pick a card with a long balance transfer period as well as other benefits that you think you will need 

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All content is written by editorial staff or writers engaged by the site, not by marketers/sales staff. Editors responsible for producing the content are not in contact or affiliated with any advertiser and are not compensated based on success of the affiliate links. All decisions regarding recommendations are determined separately from advertising relationships. Any opinions, analyses, reviews or recommendations expressed are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
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