From our exhaustive research, we found that the top offers include a low up-front balance transfer fee, a long 0% APR period, and some even offer great rewards on purchases. That combination means you can start paying down principal instead of interest and get out of debt faster — definitely a win.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]The Best Balance Transfer Credit Card: Chase Slate
The Chase Slate is TopRanked’s pick as the top balance transfer credit card for good reason. While most balance transfer cards hit you with an upfront fee when you transfer a balance (typically 3% or 5% of the amount), the Chase Slate bucks that trend, offering a $0 fee on all balance transfers made within the first 60 days after getting approved for the card. Better still? The 0% APR period for those transfers is a generous 15 months.
Chase Slate Balance Transfer Math
Make no mistake — this means BIG savings for the average consumer. Let’s take an example case of someone carrying $10,000 in credit card debt who can only afford to make a monthly payment of $200. Typically, more than $150 of this payment would go toward interest and less than $50 would be used to make the debt smaller. It’s hard to get out of debt with those numbers. Instead, by transferring that balance to the Chase Slate, it all goes to the principal. The result? At the end of the 15 month 0% APR period, a person who transferred their balance would have paid off an extra $2,150 using this method.
A Card You Can Get Approved For
The last thing that sets the Chase Slate apart from the others is that it has the most lenient credit requirements of the balance transfer credit cards in our top tier, so it’s easier to get approved. If you’re carrying a big balance, it’s probably bringing your credit score down a bit — it’s important to apply for a balance transfer credit card you can get. Rejections won’t get you closer to debt freedom.
Final Thoughts on Chase Slate
Bottom line, Chase checks all the boxes. High approval likelihood, no up-front fees, long 0% APR period. That’s why the Chase Slate is a clear standout in our list of best balance transfer credit cards. If you have large credit card balances, this is most likely the card for you.
Carrying a big balance on another Chase card? The Chase Slate doesn’t accept balance transfers from other Chase accounts. Instead, you’ll want to look into the Barclaycard Ring Mastercard. It’s the closest card in features to the Chase Slate and is our runner-up card for large balance transfers.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
Long Balance Transfer Period: Discover it 18 Month Balance Transfer Offer
When we set out to find the best balance transfer credit cards, we realized there wasn’t really only one winner. Depending on your situation, you might benefit from a different card. If you need the longest possible period to pay off your balance, the Discover it 18 Month Balance Transfer Offer is a great choice.
This card goes above and beyond the 15 months the Chase Slate offers, giving consumers a full year and a half to pay off their transferred balance interest free.
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Best Balance Transfer Plus Rewards: Chase Freedom Unlimited
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[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Perfect for Large Balance Transfers: Barclaycard Ring Mastercard
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Barclaycard Ring Mastercard
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- 0% Introductory APR for the first 15 months on purchases. Plus, you’ll get a 0% introductory APR for 15 months on Balance Transfers made within 45 days of account opening. After that, a variable APR will apply, 13.74%
- No balance transfer fees
- No foreign transaction fees
- Chip technology, so paying for your purchases is more secure at chip-card terminals in the U.S. and abroad
- Free online access to FICO® Credit Score
Also Consider: Other Excellent Balance Transfer Offers
BankAmericard — 18 months with a 3% balance transfer fee.
BlueCash Everyday Card from American Express — 0% for 12 months, no annual fee, big savings on groceries and gas.
Frequently Asked Questions RE: Best Balance Transfer Credit Cards
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[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]More Balance Transfer Information:
How to Get Out of Debt Using a Balance Transfer Card
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Methodology — How We Chose the Best Balance Transfer Credit Cards:
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Sources:
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