In our opinion, the best type of balance transfer is one that offers a 0% APR and charges no balance transfer fees. As we’ve written many times before, balance transfer fees are a nuisance. If you are only transferring a balance from one credit card, the maximum balance transfer fee you will incur is the lesser of 3% or $75. However, if you transfer three balances of $2500, you’ll end up paying $225 in balance transfer fees.
Now, the savings one gets from transferring a $7500 balance from a 14% credit card is over $1000. However, if you pay balance transfer fees, the amount would be reduced to around $800. Now, while balance transfer fees are by no means deal breakers, they do help boost savings (in this example, by 20%).
Given our stance on no fee balance transfers, it should come as no surprise that our selection for “Best Balance Transfer” offers no fees on balance transfers and a 0% APR for 1 year. And the winner is…The Citi Professional Cash Card.
Below you can vote on the best balance transfer credit cards. You can compare all of the offers listed in the 0% APR Balance Transfer section of our website and apply online for approval.
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