Comparing the Best Balance Transfer Credit Cards with 0% APR for 2022
Introduction
Hello Friends, welcome to our guide on the best balance transfer credit cards with 0% APR for 2022. If you are struggling with high-interest credit card balances, transferring your debt to a balance transfer card can be an excellent way to save hundreds or even thousands of dollars in interest charges. In this article, we will compare the top balance transfer credit cards, their features, and benefits, to help you make an informed choice based on your financial situation.
What is a balance transfer credit card?
A balance transfer credit card is a card that provides you with an opportunity to transfer your existing credit card debt to a new card with a lower interest rate. Many of these cards offer introductory 0% APR periods that can last from 6 to 18 months, allowing you to pay off your balance without accruing interest charges.
Benefits of using a balance transfer credit card
The benefits of using a balance transfer credit card are numerous. Firstly, you can transfer your outstanding balance from high-interest credit cards to save money on interest charges. Secondly, it can simplify your finances by consolidating your debt on one card, making it easier to manage and keep track of your payments. Lastly, using a balance transfer card can improve your credit score by reducing your credit utilization rate.
Top 10 Best Balance Transfer Credit Cards with 0% APR for 2022
Here are the top 10 best balance transfer credit cards with 0% APR for 2022:
- Wells Fargo Active Cash
- Citi Rewards+ Student Card
- US Bank Visa Business Platinum Card
- Citi Double Cash Card
- Chase Freedom Flex
- Blue Cash Everyday Card from American Express
- Discover it Balance Transfer
- Citi Diamond Preferred Card
- BankAmericard Credit Card
- Capital One Quicksilver Cash Rewards Card
Top Features and Benefits of each card
1. Wells Fargo Active Cash
The Wells Fargo Active Cash card offers a 0% introductory APR for 15 months on purchases and balance transfers, after which the variable APR will range from 14.99% to 24.99%, based on your creditworthiness. It has a $0 annual fee and rewards you with 2% cashback on purchases.
2. Citi Rewards+ Student Card
The Citi Rewards+ Student card offers a 0% introductory APR on purchases and balance transfers for 7 months, followed by a variable APR of 14.74%-24.74%, based on your creditworthiness. It has no annual fee and rewards you with 2x ThankYou points on supermarket and gas station purchases, up to $6,000 per year, and 1x ThankYou point on all other purchases.
3. US Bank Visa Business Platinum Card
The US Bank Visa Business Platinum Card offers a 0% introductory APR on purchases and balance transfers for 15 billing cycles, followed by a variable APR of 9.99% to 17.99%, based on your creditworthiness. It has no annual fee and offers free employee cards and online account management.
4. Citi Double Cash Card
The Citi Double Cash Card offers a 0% introductory APR on balance transfers for 18 months, followed by a variable APR of 13.99% to 23.99%, based on your creditworthiness. It has no annual fee and rewards you with 2% cashback on purchases: 1% when you buy and 1% as you pay.
5. Chase Freedom Flex
The Chase Freedom Flex card offers a 0% introductory APR on purchases and balance transfers for 15 months, followed by a variable APR of 14.99% to 23.74%, based on your creditworthiness. It has no annual fee and rewards you with 5% cashback on rotating quarterly categories, 5% on travel purchased through Chase Ultimate Rewards, 3% on dining and drugstore purchases, and 1% on all other purchases.
6. Blue Cash Everyday Card from American Express
The Blue Cash Everyday Card from American Express offers a 0% introductory APR on purchases and balance transfers for 15 months, followed by a variable APR of 13.99% to 23.99%, based on your creditworthiness. It has no annual fee and rewards you with 3% cashback on supermarket purchases, 2% on gas station and department store purchases, and 1% on all other purchases.
7. Discover it Balance Transfer
The Discover it Balance Transfer card offers a 0% introductory APR on purchases and balance transfers for 18 months, after which the variable APR will range from 11.99% to 22.99%, based on your creditworthiness. It has no annual fee and rewards you with 5% cashback on rotating quarterly categories, up to the quarterly maximum, and 1% on all other purchases.
8. Citi Diamond Preferred Card
The Citi Diamond Preferred Card offers a 0% introductory APR on purchases and balance transfers for 18 months, followed by a variable APR of 14.74% to 24.74%, based on your creditworthiness. It has no annual fee and offers Citi Entertainment benefits, which include exclusive access to tickets for concerts, sporting events, dining experiences, and more.
9. BankAmericard Credit Card
The BankAmericard Credit Card offers a 0% introductory APR on purchases and balance transfers for 18 billing cycles, followed by a variable APR of 12.99% to 22.99%, based on your creditworthiness. It has no annual fee and offers overdraft protection and FICO credit score monitoring.
10. Capital One Quicksilver Cash Rewards Card
The Capital One Quicksilver Cash Rewards Card offers a 0% introductory APR on purchases and balance transfers for 15 months, followed by a variable APR of 15.49% to 25.49%, based on your creditworthiness. It has no annual fee and rewards you with an unlimited 1.5% cashback on all purchases.
Conclusion
There you have it, the top 10 best balance transfer credit cards with 0% APR for 2022. When choosing a credit card for balance transfers, it’s essential to consider the length of the introductory period, the regular APR, and any fees associated with the card. Remember to use these cards responsibly and pay off your balance before the promotional period ends to maximize your savings. We hope this guide helps you make an informed decision and take control of your finances. Until next time, happy saving!
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