The Best Balance-Transfer Credit Cards

If you have large credit card debt, consider refinancing it with a balance transfer credit card. Maintaining a balance on a credit card becomes increasingly difficult, especially when interest rates rise. Average APRs for credit cards range from about 15% to 20%, and some cards have rates approaching 30%.

With a prepaid card, you may be able to benefit from an interest rate of 0% for the first 21 months. That could save hundreds or even thousands of dollars from your interest payments, enough to offset the balance transfer fee of 3% to 5% of the amount transferred and still save you money.

But to get the most out of a balance transfer — and to recoup the investment you’ve made in that transfer fee — you need to pay off the debt before the 0% window expires. After the 0% period is over, the APR on the remaining balance usually jumps into the double digits.

We have compiled the best credit cards for prepaid transfers. All of them have extended 0% introductory windows and charge reasonable 3% balance transfer fees. (Some cards require you to transfer the balance immediately after opening the card to capture the 0% rate or 3% fee – otherwise you’ll pay a higher APR or fee.) If you’re after a great reward – Look for credit card instead see The Best Cash Back Credit Cards and The Best Travel Rewards Credit Cardsalong with The best student reward cards.

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BankAmericard credit card



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