6 reliable credit cards for balance transfers
Balance transfers can be risky and can add to your mental and financial stress if you make an incorrect decision. You can definitely find cards that promise 20 or 21 months of 0% introductory annual percentage rate (APR), but finding a well-balanced and reliable credit card for your balance transfers and purchase APR is essential. Here are six cards that live up to the expectations.
Is Wells Fargo Platinum Visa® Card the most reliable choice?
- Wells Fargo has always had some of the best credit card balance transfer offers.
- With their Platinum Visa® card, they offer an introductory APR of 0% for a period of 18 months on both purchases and balance transfers. A balance transfer fee of 3% is applicable during the first 18 months, and then it grows to 5%.
- Once the introductory period ends, your APR can be between 16.90% to 26.74%, depending on your credit score. To check your credit score, you can get your FICO® Credit Score for free through this card.
- There is no annual fee on this card.
- You also get a $600 protection on your cell phone.
- Wells Fargo Platinum is the perfect credit card that strikes a balance between purchases and balance transfer.
Why is the Blue Cash Everyday® card reputed to be the best credit card for balance transfers?
- Blue Cash Everyday® Card from American Express is similar to Wells Fargo Platinum card where you get an introductory 0% APR for both purchases and balance transfers for a period of 15 months. You have a 3% cash advance and balance transfer fee. After the introductory period is over, the interest rate will vary from 14.74% to 25.74%.
- This card also guarantees a 3% cashback on your purchases at any supermarkets in the country.
- You get 2% cashback at gas stations and 1% cashback on purchases from select departmental stores.
- There is no annual fee on this card.
What are the features of BankAmericard®?
- You get 0% introductory APR for 15 billing cycles on purchases as well as on balance transfers which are made within 60 days of opening your account. After that, the APR can be between 14.74% to 24.74%. Thus, it is one of the best credit cards for balance transfers.
- There is no annual fee.
- The only drawback is that there are no rewards on this card.
- However, you can access your FICO® Credit Score for free.
What do you get from Capital One’s Quicksilver card?
- Capital One’s Quicksilver card has a 0% introductory APR on balance transfers and purchases for 15 months.
- This card applies a 3% balance transfer fee.
- The regular APR after the introductory period ends varies from 14.74% to 24.74%.
- You will get a cashback of 1.5% on every purchase that you make.
- There are no annual fees or foreign transaction fees with this card.
- This is definitely one of the most reliable credit cards for balance transfers in the long run.
What are the advantages of choosing the Chase Freedom Unlimited® credit card?
- This is another credit card that has 0% introductory APR for 15 months on both purchases and balance transfers.
- You get an automatic cashback of 1.5% on every purchase you make.
- You get a $150 bonus if you make purchases of $500 within the first three months.
- You have a balance fee of 5% or $5, whichever is higher. You can redeem the cashback at any time.
- There is no annual fee on the card.
What do you get with HSBC’s Cash Rewards Mastercard®?
- This credit card offers 0% introductory APR on balance transfers and purchases for 18 months.
- Once that period comes to an end, a variable APR of 12.74%, 16.74% or 20.74% will be applicable.
- There is no annual fee, foreign transaction fees or late fees.
- A balance transfer fee of $10 or 4% is applicable on balance transfers.
- This card offers cash rewards on all the purchases you make.
These are some of the best credit cards for balance transfers. You can choose any of these cards depending on your needs and requirements. However, it is important to go through the terms and conditions of these credit cards before choosing one. Your credit score is a vital clause that you need to consider. All of these cards require a credit score of good to excellent.