Update: The information below was correct at the time of publishing, but one or more offers are no longer available. Please visit the issuer website for up-to-date information.
Tired of juggling high-interest credit card balances? It’s time to give your finances a makeover with the some of best balance transfer cards for fair credit. Whether you’re looking to save on interest or pay off debt faster, we’ve got the lowdown on the top picks to help you win the credit game. Ready to find your perfect credit card?
MoneyLion can help you explore a wide variety of credit card options tailored to different needs and preferences, like when you have fair credit and need to transfer your balances.
Table of contents
6 best balance transfer cards for fair credit
Here are the best balance transfer cards that can help you manage your debt more effectively.
1. Best for low APR: Citi® Diamond Preferred® Card
Source: citi.com
The Citi® Diamond Preferred® Card is perfect for those seeking a low APR on balance transfers. With a lengthy intro APR period of 0% for 12 months, this card gives you ample time to pay off your debt without raising interest. There’s no annual fee, making it an affordable choice for managing your finances. The regular APR is also competitive, which helps if you carry a balance post-intro period.
Credit score needed: 670 — 850 | Purchases intro APR: 0% for 12 months |
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Intro bonus: N/A | Cash advance fee: $10 or 5%, whichever is greater |
Annual fee: $0 | Balance transfer fee: $5 or 5%, whichever is greater |
Regular APR: 18.24% — 28.99% variable | Foreign transaction fee: 3% |
Pros
Long intro APR period
No annual fee
Low regular APR
Cons
High balance transfer fee
No rewards program
Foreign transaction fee
2. Best for no balance transfer fee: Amex EveryDay® Credit Card
Source: americanexpress.com
The Amex EveryDay® Credit Card is an excellent choice to avoid balance transfer fees. It offers a 0% intro APR for 15 months on balance transfers and purchases. Plus, it has a rewards program where you can earn 2x points at U.S. supermarkets on up to $6,000 per year in purchases, then 1x points. The best part? If you transfer within the first 60 days, there’s no balance transfer fee, making it a cost-effective choice.
Credit score needed: 670 — 850 | Intro balance transfer APR: 0% intro APR on purchases and balance transfers for 15 months from the date of account opening |
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Intro bonus: Earn 10,000 Membership Rewards® Pointsafter you use your new Card to make $2,000 in purchases within the first six months | Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater |
Annual fee: $0 | Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater |
Regular APR: 18.24% to 29.24% variable | Foreign transaction fee: 2.7% of each transaction after conversion to U.S. dollars |
Pros
No balance transfer fee (first 60 days)
Rewards program
No annual fee
Cons
Foreign transaction fee
Higher regular APR
Requires good credit for approval
3. Best for rewards: Chase Freedom Unlimited®
Source: chase.com
The Chase Freedom Unlimited® Card is perfect for those who want to earn rewards while paying off their balance transfer. It offers 1.5% cash back on every purchase and a generous intro APR of 0% for 15 months on purchases and balance transfers. Plus, the $200 bonus after spending $500 in the first 3 months is a sweet incentive for new cardholders.
Credit score needed: 690-850 | Purchases intro APR: 0% for 15 months |
|---|---|
Intro bonus: Earn an additional 1.5% cash back | Cash advance fee: $10 or 5%, whichever is greater |
Annual fee: $0 | Balance transfer fee: $5 or 3%, whichever is greater |
Regular APR: 20.49% — 29.24% variable | Foreign transaction fee: 3% |
Pros
Rewards on all purchases
Generous intro bonus
No annual fee
Cons
Balance transfer fee
Foreign transaction fee
High cash advance fee
4. Best for long intro APR: Wells Fargo Platinum Card
The Wells Fargo Platinum Card offers one of the longest intro APR periods, making it ideal for those who need extra time to pay off their transferred balance. With 0% intro APR for 18 months on purchases, balance transfers, and no annual fee, it’s a solid option for those looking to manage their debt efficiently.
Credit score needed: 700+ | Intro balance transfer APR: 0% intro APR for 18 months from account opening |
|---|---|
Intro bonus: None | Balance transfer fee: 3% within the first four months, then 5% |
Annual fee: $0 | Cash advance fee: Varies |
Regular APR: 16.49% — 24.49% variable | Foreign transaction fee: 3% |
Pros
Long intro APR period
No annual fee
Low regular APR
Cons
No rewards program
Balance transfer fee
Foreign transaction fee
5. Best for easy approval: Capital One QuicksilverOne Cash Rewards Credit Card
Source: capitalone.com
The Capital One QuicksilverOne Cash Rewards Credit Card is great for those with fair credit who are seeking easy approval. It offers 1.5% cash back on every purchase and has a reasonable intro APR period. This card also provides access to a higher credit line after making your first five monthly payments on time, which is perfect for those looking to improve their credit score.
Credit score needed: 640+ | Intro balance transfer APR: 29.99% variable |
|---|---|
Intro bonus: Earn $200 once you spend $500 within 3 months | Balance transfer fee: No Transfer Fee with this Transfer APR; 4% on the amount of each transferred balance that posts to your account at a Promotional APR |
Annual fee: $0 | Cash advance fee: Either $5 or 5% of the amount of each cash advance, whichever is greater |
Regular APR: 29.99% variable | Foreign transaction fee: None |
Pros
Cashback on all purchases
Easy approval
No foreign transaction fee
Cons
Annual fee
High regular APR
No intro APR for balance transfers
6. Best for travel rewards: Bank of America® Travel Rewards Credit Card
Source: bankofamerica.com
The Bank of America® Travel Rewards Credit Card is ideal for those who want to earn travel rewards while managing their balance transfer. It offers unlimited 1.5 points for every $1 spent on all purchases and has no annual fee. Plus, there’s no foreign transaction fee, making it a great companion for international travel.
Credit score needed: 670+ | Intro balance transfer APR: 0% Introductory for 15 months |
|---|---|
Intro bonus: 25,000 online bonus points,a $250 travel or dining statement credit value after making at least $1,000 in purchases in the first 90 days of account opening | Balance transfer fee: Introductory Fee of 3% of the amount of each transaction, 4% after that |
Annual fee: None | Cash advance fee: 4% |
Regular APR: 19.24% — 29.24% variable | Foreign transaction fee: None |
Pros
Travel rewards program
No annual fee
No foreign transaction fee
Cons
Balance transfer fee
High regular APR
Requires good credit for approval
What is a balance transfer credit card?
A balance transfer credit card allows you to transfer existing high-interest debt from one or more credit cards to a new card with a lower interest rate, often 0%, for a promotional period. This helps you save on interest and pay off your debt faster. Here’s how it works: apply for a balance transfer card, get approved, and then move your balances. Simple, right?
How to do a balance transfer
Ready to make the switch? Here’s how:
Check your credit score: Knowing your score helps you choose the right card.
Research balance transfer credit card offers: Look for the best intro APR and lowest fees.
Apply for a balance transfer credit card: Fill out the application accurately.
Gather information about your existing credit card debt: Know the amounts and interest rates.
Initiate the balance transfer process: Follow the card issuer’s instructions.
Confirm the transfer is complete: Ensure your old balances are paid off.
Pros and cons of balance transfers
Before you dive in, consider these pros and cons:
Pros• Lower interest rates• Simplified payments• Potential to pay off debt faster | Cons• Balance transfer fees• Intro APR periods can end quickly• Potential impact on credit score |
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Alternatives to a balance transfer
Balance transfers aren’t the only option. Consider these alternatives:
Boost your credit rating and delay your application. Improving your credit score can help you qualify for better offers.
MoneyLion offers a free and convenient way to find offers from our trusted partners to help you improve your credit — such as credit monitoring, credit report disputes, and getting credit by paying bills. A good credit score can lead to lower interest rates and increased borrowing power on loans and credit cards.
Negotiate with creditors for lower interest rates: Sometimes, a phone call can reduce your rates without switching cards.
Explore 0% APR credit card offers for new purchases: These can save you on interest if you need to make new purchases while paying down old debt.
Get a personal loan: Consolidate your debt with a fixed-rate loan for easier management.
Cut expenses to allocate more money to debt repayment: Budget adjustments can free up funds to tackle your debt more aggressively.
Use the debt avalanche or debt snowball method: Both methods provide structured ways to pay off debt.
Consider a side hustle: Extra income can help you pay off debt faster.
👉 8 Easy Credit Cards to Get Approved For
Mastering Balance Transfers
With these top balance transfer cards for fair credit, you can take control of your debt. Remember, the right card can help you save money and simplify your payments. Choose wisely, and watch your financial health improve.
FAQs
Can I get a balance transfer card with bad credit?
It’s more challenging but not impossible. Focus on improving your credit score to qualify for better offers.
How long does a balance transfer take?
Typically, it takes 5-7 business days, but it can vary depending on the issuers involved.
Are balance transfers worth it?
Yes, if you can secure a low or 0% intro APR and pay off your debt within the promotional period, balance transfers can save you a significant amount in interest.
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