Save hundreds of dollars by moving a high-interest rate balance to a balance transfer credit card with a 0% introductory rate. Here are some best balance transfer credit cards of 2019. You can check out the list of Best Student Credit Cards here. But this article is going to center on Best Balance Transfer Credit Cards.
It’s annoying when you can’t transfer your credit balance from your previous card to your new card.
Especially in cases where your previous credit balance is a huge amount with a 20% interest or even more.
However, that is no longer an issue as we list the best balance transfer credit cards for August 2023.
Having said that, grab a seat and relax as we unveil the best balance transfer credit cards for August 2023.
Best Balance Transfer Credit Cards No Fee
The Citi Diamond Preferred Card is best for balance transfers. Hence this card offers a 0% intro APR on purchases for a year.
Also, new cardholders are offered a 0% intro APR on balance transfers for a year and 9 months.
That’s not all this card also comes with a $0 annual fee and also a $0 liability on illegal charges.
However, after the intro bonuses, you are charged an APR of 18.24% to 28.99% on purchases. As well as on balance transfers.
Hence, for more info, visit https://www.citi.com/credit-cards/citi-diamond-preferred-credit-card.
This credit card is perfect for long-balance transfers. Hence, cardholders can enjoy a 0% intro APR for 18 billing cycles.
Hence, this 0% intro APR is for both balance transfers and purchases. However, after this intro period, you’re charged an APR of 19.74% to 29.74% on balance transfers and purchases.
The U.S Bank Visa Platinum card also comes with amazing benefits and has no annual fee.
For more info, visit https://www.usbank.com/credit-cards/visa-platinum-credit-card.html
If you’re looking for a credit card with great flat-rate cash-back rewards, then you need this card.
The Citi Double Cash Card is best for flat-rate cash-back rewards. It comes with a 0% intro APR on balance transfers for 18 months and has no annual fee.
Also, cardholders can earn 2% cash back on purchases. Hence, you earn 1% when you buy and an extra 1% as you pay for your purchases.
However, to enjoy this offer you must make sure you pay your minimum due on the agreed time.
Thus, visit https://www.citi.com/credit-cards/citi-double-cash-credit-card for more info.
This credit card is best for rotating bonus categories and comes with a 0% intro APR for a year and 3 months.
Hence, this intro APR offer is open to both balance transfers and purchases and there is no annual fee.
Having said that, this credit offers a $200 intro bonus. But you must spend $500 on purchases within the first 3 months to get this bonus.
Also, you can earn 5% cash back on gas purchases when you spend a min of $6,000 in the first year.
That’s not all, this card allows you to earn 5% cash back when you spend $1,500 on combined purchases. However, these combined purchases must be in bonus categories every quarter you activate.
Still, you can also earn 5% cash back on travel booked through Chase and 3% cash back on dining. As well as 1% cash back on every other purchase made using your Chase Freedom Flex credit card.
Thus, visit https://creditcards.chase.com/cash-back-credit-cards/freedom/flex for more info.
The last card on our list is the Citi Reward+ Card. This credit card is best for small purchases and offers a 0% Intro APR for 15 months.
Hence, this intro APR offers is for both purchases and balance transfers and there is no annual fee.
However, after the intro APR offer, you’re charged an APR of 18.74% to 28.74%.
Having said that, you can earn an intro bonus of 20,000 bonus points as a cardholder. But you must spend at least $1,500 within the first 3 months to get this bonus point.
Also, this intro bonus is worth $200 in gift cards or travel rewards when redeemed at thankyou.com.
Thus, you can earn 2x ThankYou points for every dollar spent at supermarkets and gas stations. But, you must spend at least $6,000 yearly to get these ThankYou points.
Still, you can also earn 1x ThankYou points for every dollar spent on other purchases. And also get a round-up to the nearest 10 points on your purchases.
That’s not all, you can also earn up to 5 ThankYou points when you spend at least a dollar on hotels. As well as on-card rentals and other attractions purchased via the Citi Travel portal.
Hence, note that this offer is limited and does not include air travel. For more info, visit, https://www.citi.com/credit-cards/citi-rewards-plus-credit-card.
Best Balance Transfer Credit Cards
- Citi Double Cash (Best Flat-Rate Cash Back)
- Capital One Quicksilver (Best Cash Signup Bonus)
- Wells Fargo Propel American (Best First-Year Bonus)
- Citi Diamond Preferred (Best for Repeated Transfers)
Citi Double Cash Card (Best For Simplicity)
Perks
Citi Double Cash purchases earn up to 2% cashback – 1% cashback when you make the purchase and 1% back when you pay them back. The promotional rate for balance transfers is one of the longest offered of any balance transfer credit card.
Citi waives the first late fee if you accidentally forget to make a credit card payment.
Downsides
The 0% introductory rate does not apply to purchases, which means you are likely to pay interest on purchases if you make purchases before paying off your transferred balance.
- Minimum Credit Needed: Good
- Annual Fee: None
- Intro APR: 0% on balance transfers for 18 months
- Ongoing APR: 15.99-25.99% Variable.
- Balance Transfer Fee: $5 or 3% of the transfer amount
- Cash Advance Fee: $10 or 5% of the cash advance
- Foreign Purchase Transaction Fee: 3% of the purchase amount in U.S. dollars.
- Signup Bonus: None.
Capital One Quicksilver (Best Cash Bonus)
Perks
Purchases on the Capital One Quicksilver earns an unlimited 1.5%
Cash rewards do not expire and your rewards can be redeemed at any time.
You get rewarded by Capital One for making on-time payments by considering you for a credit limit increase if you make your first five monthly payments on time.
The signup bonus, has a small minimum spend that is manageable even if you transfer a balance, based on your credit limit and the amount you transfer.
No balance transfer fee after the first 15 months. Note, the higher APR will be applied to the transfer.
Downsides
You may earn more with a credit card that allows you to earn more rewards if you have excellent credit.
- Minimum Credit Needed: Good
- Annual Fee: None
- Intro APR: 0% on purchases and balance transfers for 15 months
- Ongoing APR: 16.24% -26.24% variable
- Balance Transfer Fee: 3% of the transfer amount for the first 15 months: None after the first 15 months
- Cash Advance Fee: $10 or 3% of the cash advance amount
- Foreign Purchase Transaction Fee: None
- Signup Bonus: $150 cash bonus when you spend $500 in the first three months.
Wells Fargo Propel American Express (Best First-Year Bonus)
Perks
Wells Fargo Propel offers a good sign up bonus for cardholders who spend $3,000 on purchases in the first three months of opening an account.
Subsequently, you’ll earn three points for every dollar you spend on dining, gas, rideshares, flights, hotels, homestays, and car rentals and popular streaming services. All other purchases earn one point per dollar.
Downsides
You have to spend high to earn the signup bonus. Earning the signup bonus may clash with transferring a balance based on the cardholders initial credit limit.
- Minimum Credit Needed: Good
- Annual Fee: None
- Intro APR: 0% on purchases and balance transfers for 12 months
- Ongoing APR: 25.99%-27.99% variable
- Balance Transfer Fee: $5 or 3% of the transfer amount for 120 days from account opening: $5 or 5% after that.
- Cash Advance Fee: $10 or 5% of the cash advance
- Foreign Purchase Transaction Fee: None
- Welcome Offer: 30,000 bonus points after you spend $3,000 on purchases in the first three months.
Citi Diamond Preferred (Best for Repeated Transfers)
Perks
Citi Diamond Preferred extends it’s 18-month 0% APR to balances transferred for the first 4 months following your account opening. This implies that you can transfer a small balance when you first open your account, pay it off thereafter transfer another one shortly thereafter.
This card also gives you the option to choose your own due date, you can use your card with Apple Pay, and get automatic alerts for important account activity.
Downsides
Offers no ongoing rewards on purchases
- Minimum Credit Needed: Excellent
- Annual Fee: None
- IntroAPR: 0% on purchases and balance transfers for 18 months
- Ongoing APR: 15.74% – 25.74% variable
- Balance Transfer Fee: $5 or 5% of the transfer amount
- Cash Advance Fee: $10 or 5% of the cash advance
- Foreign Purchase Transaction Fee: 3% of the purchase amount in U.S. dollars
- Signup Bonus: None.
Last word
To sum it up, this article has all you need about the best balance transfer credit cards for August 2023.
Hence, lets us know your favorite card in the comment session. And also don’t forget to drop your questions in the comment session as well.
Having said that, thank you for reading!
