Finding the right balance transfer card can be a game-changer if you’re struggling with high-interest credit card debt. Credello recently announced their top picks for the best balance transfer cards of 2023. Let’s look at these cards and how they can benefit you.
About balance transfers
Using a balance transfer check can be an effective way to consolidate and manage your credit card debt. These checks, provided by many balance transfer cards, allow you to transfer your existing balances directly to the new card. They can be a solid option for paying off your high-interest debt or putting more money in the bank.
When using balance transfer checks, it’s important to consider the terms and conditions of the card. Be mindful of any fees associated with the transfer. Pay attention to the introductory APR period, as it will determine how long you have to pay off your debt interest-free.
1. BankAmericard® Credit Card
This card offers an introductory 0% APR for 21 billing cycles on purchases and on balance transfers made within the first 60 days of opening the account. With no annual fee, it’s an excellent choice for those looking to save on interest charges. Additionally, the BankAmericard® Credit Card provides online access to your FICO® Score, allowing you to keep track of your credit health.
2. Wells Fargo Reflect®
The Wells Fargo Reflect offers a generous 0% introductory APR for 21 months on balance transfers made within the first 120 days of account opening and all purchases, making it ideal for consolidating your debt and managing your finances. With no annual fee and additional rewards for everyday spending, the Wells Fargo Reflect® card provides a well-rounded balance transfer solution.
3. Citi Simplicity® Card
The Citi Simplicity Card offers a long 0% APR introductory period for 12 months on purchases and for 21 months from the date of your first balance transfer, allowing you to tackle your debt without high interest. Balance transfers must be completed within four months from account opening. With no late fees, annual fees, or penalty rates, the Citi Simplicity® Card provides a hassle-free experience for those looking to get their finances back on track.
4. First Tech Choice Rewards World Mastercard®
This card offers a 0% introductory APR for balance transfers made within 90 days from account opening for 12 billing cycles and earns rewards on your everyday purchases. A competitive rewards program and a low ongoing APR makes it an attractive option for those who want to benefit from their spending while reducing their debt.
5. Bank of America® Customized Cash Rewards Credit Card
This wonderful card offers a 0% introductory APR for 18 billing cycles on purchases and on balance transfers made within 60 days from account opening. You also earn cashback on everyday purchases. With the ability to choose your bonus category and earn bonus cashback, it’s a versatile card that can help you save money while paying down your debt.
6. Chase Freedom Unlimited®
The Chase Freedom Unlimited is another recommended option. It offers a 0% introductory APR for 15 months on purchases and balance transfers, also earning unlimited cashback on every purchase. With no annual fee and the ability to redeem your cashback for travel, gift cards, and more, it’s a well-rounded card for those looking to maximize their rewards while tackling their debt.
7. Citi® Double Cash Card
The current 18 Month BT Offer is appealing for those seeking long-term value. This card offers a 0% introductory APR for balance transfers. It allows you to earn cashback twice on spending, but not balance transfers – 1% when you make a purchase and an additional 1% when you pay it off. With no annual fee and a lengthy introductory period, it’s a card that rewards responsible credit management.
Finding the best balance transfer card can provide significant financial relief. By using a balance transfer check wisely and taking advantage of the introductory offers, you can take control of your debt and pave the way toward financial freedom.