Before diving into the best balance transfer cards you can find, first of all, what are balance transfer cards? They are cards issued to a customer who wants to move debt from a credit card of high interest to a new credit card of low-interest rates to be able to cover the debts in a short period of time. There are lots of balance transfer cards available but all come with their pros and cons.
All balance transfer cards are good at least for a particular thing that may or may not be the best for you. Some balance transfer cards are best known for their mercy at late fee payments, having no transfer fee, good cash back, and so on.
So finding the best balance transfer cc is not just the solution but finding the best transfer cards that fit your needs and as such be a great help to fulfill your objectives.
The Best Balance Transfer Cards 2022
When looking for a balance transfer card, there are certain things to look out for that may befit you. Certain things like transfer balance fee, APR period, issuer, and all that. As of this year 2021, the best balance transfer cards were being arranged based on categories.
By now, you should understand that for you to qualify for a balance transfer card, you need to have at least a good credit score of about 695. Bringing out the best card for:
- General – U.S. Bank Visa Platinum Card (known for its longest 0% period as you are given the opportunity to pick a due date for the card and it also requires a good score of 695)
- Cash Back – Citi Double Cash Card (it comes with high rewards as users are being given 1% when something is bought and another 1% when you pay off which total to a 2% cashback on purchase)
- Little purchase – Citi Reward Cards (based on their round-up rewards, they offer 2 points to each dollar based on the $6000 used at markets and stations as well as 1 point for other purchases)
- No transfer fee – Wells Fargo Platinum Card (having no annual fee, a large amount of time to pay back as 18 months which is one and half years, and also it has phone insurance)
With the above list, you can make your pick like that which will befit you and also run a thorough research on the best balance transfer cc based on different categories, it could be for no transfer fee, fair credit, rewards, and so on. So, don’t just go around picking any balance transfer card at random, then later on you would regret it.
Facts About Balance Transfer Cards
It is actually regarded as one of the best ways to pay back debt. It often does have an interest-free introductory period which does last for 6 – 18 months depending on the card; most are shorter while few offer a long period.
There are also balance transfer fees attached to it, although few take no charges and come with other benefits such as rewards. Besides, to get qualified for a balance transfer card, one needs to attain at least a good credit score. More research can be done on Google.