The Top 4 Balance Transfer Credit Cards for 2020

posted on 06-10-2019

Tired of dragging credit card debt around with you? Taking 15 minutes to transfer your debt to a credit card with generous balance transfer perks could save you thousands in interest charges and help you pay off your debt faster at the same time.

And we can help. After spending countless hours analyzing dozens of credit cards, our research staff has identified some of the best balance transfer cards on the market.

Whether you're looking for cards that:

  • Charge the lowest-possible balance transfer fee,
  • Offer a 0% annual percentage rate (APR) on your balance for up to 21 months,
  • or boast the lowest ongoing APRs as you continue to pay down your debt,

... you're bound to find something great on this list.

Assuming you plan to keep making payments and have great credit (with a credit score above 700), keep scrolling to see our lineup of best balance transfer credit cards for 2020. First, here's a look at the cards at a glance:

The 4 Best Credit Cards for Balance Transfers (2020)
Card 0% Intro APR on Balance Transfers for Best Feature Regular APR
American Express Blue Cash Everyday(R) 15 months Cash Back 15.24% - 26.24% Variable
Citi Simplicity(R) Card 21 months No Late Fees 16.24% - 26.24% Variable
Wells Fargo Platinum Visa Card 18 months Low Ongoing APR 13.74% - 27.24% Variable
Discover it(R) 18 months Best All Around 14.24% - 25.24% Variable

American Express Blue Cash Everyday Card

Because balance transfer cards can offer great cash-back rewards, too. While the AMEX Express Blue Cash Everyday Card charges the standard 3% balance transfer fee, the card's $150 sign-up bonus is enough to recoup half of that fee on a $10,000 balance transfer.

And with the card offering 3% cash back on supermarket purchases (up to a $180 annual reward limit) and 2% cash back on US gas, it wouldn't take long to build up some serious rewards cash that you could use to pay off your debt faster.


  • 0% intro APR for 15 months on new purchases and balance transfers
  • 3% cash back at supermarkets (up to a $180 cash back limit, then 1% after)
  • 2% cash back on US gas, select US department stores
  • 1% everywhere else
  • $150 sign-up bonus (for spending $1,000 in the first 3 months)

Who This Card is Best for

Big spenders who plan to start paying new debt off in full every month and want to earn cash back to supercharge their debt payoff plan.

0% Intro APR for Regular APR Annual Fee Bonus Features
15 months on purchases and balance transfers 15.24% - 26.24% Variable $0 $150 sign-on bonus, 1% to 3% cash back

Citi Simplicity Card

Need serious extra time to pay off a seriously large credit card balance? The Citi Simplicity Card offers a 0% intro APR for a full 21 months on balance transfers, which could easily save you thousands in interest charges as you pay off debt.

If you're currently paying 20% APR on a $30,000 credit card balance, for example, you could save more than $8,000 in interest charges over first 21 months, easily making up for the card's 5% balance transfer fee.


  • 0% intro APR for 21 months on balance transfers
  • 0% intro APR for 12 months on purchases
  • No late fees or penalty rate

Who This Card is Best for

Debt slayers with heavy credit card balances or someone looking to buy a big-ticket item without the financing charge will reap the biggest savings from this card's exceptionally-lengthy 0% intro APR offer.

0% Intro APR for Regular APR Annual Fee Bonus Feature
21 months on balance transfers, 12 months on purchases 16.24% - 26.24% Variable $0 No late fees or penalty APR

Wells Fargo Platinum Visa Card

Borrowers with excellent credit who need two years or more to pay down debt may appreciate the Wells Fargo Platinum Visa Card.

This classic plastic couples a lengthy 0% intro APR for the first 18 months with possibly the lowest ongoing APR rate on the balance transfer card market for those with excellent credit. That should help keep your interest charges minimal as you steadily pay down your balance over time.


  • 0% intro APR for 18 billing cycles on balance transfers and new purchases
  • Low ongoing APR
  • 3% balance transfer fee

Who This Card is Best for

Borrowers who need a long 0% APR intro period and low ongoing APR to steadily pay down a large balance.

0% Intro APR for Regular APR Annual Fee Bonus Feature
18 billing cycles on purchases and balance transfers* 13.74% - 27.24% Variable $0 Potentially Lowest Regular APR

Discover it

Want it all? The Discover it card offers generous cash-back rewards of up to 5% on rotating categories (like gas, Amazon, restaurants, wholesale clubs, etc.), a lengthier 18 month, 0% intro APR, and one of the lowest ongoing APR on the balance transfer card market.

To top it off, Discover will double your cash back at the end of the year (no limits!), potentially turning $200 in rewards into $400 you could use to slash your debt or take a well-deserved vacation.


  • 0% intro APR for 18 months on balance transfers, 6 months on purchases
  • 5% cash back in rotating categories, 1% cash back elsewhere
  • Double your cash-back rewards at the end of the first year (no limit to rewards)

Who This Card is Best for

Large-balance borrowers looking for a mix of lucrative cash-back rewards and ultra-low APRs that could help them save thousands in interest charges over time.

0% Intro APR for Regular APR Annual Fee Bonus Feature
18 months (6 months on purchases) 14.24% - 25.24% Variable $0 1% to 5% cash back, double cash back (first year, no limit)

Which Balance Transfer Card is Right for Me?

These balance transfer cards are filled with features designed to please all types of card users that carry a balance. Those with heavy debt loads may save the most on interest charges by choosing a balance transfer card with a lengthier 0% intro APR offer, while big spenders that plan to regularly pay off their monthly balance may prefer racking up rewards on cash-back cards to help pay down past debt.

Ultimately, it's up to you to run the numbers, read each card's fine print, and ultimately find the card that saves you the most money and puts you on track toward financial freedom.

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