Can You Get A Balance Transfer Card With Bad Credit?

A balance transfer can be a great way to consolidate your debt and pay it off quickly while potentially saving money on interest. But most creditors require good to excellent credit to qualify. While it may be challenging to find one that accepts fair or even bad credit, it may still be possible.

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Key Takeaways

• Most balance transfer cards require good to excellent credit — a FICO score of 670 or higher. With a score below that, traditional 0% transfer offers are hard to land.

• A secured credit card is the most realistic balance transfer path for bad credit. It requires a refundable deposit that usually sets your credit limit, often starting around $200.

• Expect a balance transfer fee of 3% to 5% of the amount moved, and read the fine print — some cards add annual or monthly maintenance fees on top.

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Are There Balance Transfer Cards for People With Bad Credit?

Choosing the right balance transfer card is important. Make sure to compare the promotional balance transfer APR, regular APR, balance transfer fee and other potential fees.

If you don’t qualify for an unsecured credit card, a secured credit card may help you strengthen your credit profile while paying down debt. A secured credit card requires a refundable deposit and may be more accessible to those with bad credit scores.

Here are some potential options.

Downey Federal Credit Union Classic Credit Card

• Introductory APR: 0% for the first six months

• Regular APR: 15.99% to 17.99%

• Balance transfer fee: Not disclosed

• Annual fee: None

The Downey Federal Credit Union (DFCU) Classic Credit Card offers a 0% APR on all balance transfers and purchases made within the first six months of account opening. Afterward, the APR jumps to 15.99%-17.99%, depending on your creditworthiness.

The highest APR is typically for those with a FICO credit score of 599 or below. Credit lines range from $500 to $25,000.

Fortiva Credit Card

• Introductory APR: None

• Regular APR: 25.74% to 36%

• Balance transfer fee: 3% after the first year

• Annual fee: $49 to $175; after that, $0 to $49 per year

The Fortiva Credit Card, designed for subprime borrowers, may be an option for those with less-than-perfect credit scores. However, there’s no introductory APR, and the regular APR for balance transfers can be as high as 36%, depending on your credit score. There’s no disclosed balance transfer fee at account opening, but there’s a 3% fee on transfers after the first year.

There’s also an initial annual fee of $49 to $175, and after that, it could be $0 to $49 per year. The issuer also charges an account maintenance fee between $60 and $159 per year billed monthly.

KeyPoint Credit Union Visa Classic Credit Card

• Introductory APR: 0% APR for first 16 billing cycles

• Regular APR: Variable balance transfer APR 19.49% to 21.49%

• Balance transfer fee: 4%

• Annual fee: None

The Visa Classic Credit Card from KeyPoint Credit Union was designed to help those with no credit history build credit. However, approval still depends on credit history and other factors. The card has a 0% introductory APR on balance transfers for the first 16 billing cycles, which could give you extra time to pay down debt.

Afterward, there’s a variable balance transfer APR that can change depending on your credit score and the prime rate. There’s no annual fee, but there is a balance transfer fee of 4%.

BankAmericard Secured Credit Card

• Introductory APR: None

• Regular APR: Variable 25.99% APR

• Balance transfer fee: 5%

• Annual fee: None

The BankAmericard Secured Credit Card can help build your credit score and pay off debt. To open an account, you need a minimum security deposit of $200 with a maximum of $5,000. Your credit limit is determined by how much you deposit, your income and your ability to repay the credit line.

There’s no intro APR, but when you do a balance transfer, there’s a 5% on the amount transferred.

Capital One Platinum Secured Credit Card

• Introductory APR: Not disclosed

• Regular APR: 28.99% for purchases and balance transfers

• Balance transfer fee: 0% or 4%

• Annual fee: None

Another secured credit card is the Capital One Platinum, but balance transfers are subject to approval. You may request a balance transfer 10 days after account opening. A $49, $99 or $200 minimum deposit will open the account with a starting credit line of at least $200. If you deposit more, you can raise the credit line, up to a maximum of $1,000. There’s a 4% fee on balances transferred under a promotional APR, and no fee for balances transferred at the standard 28.99% Transfer APR.

Are Balance Transfer Cards Helpful for People With Bad Credit?

There is potential good and bad to using balance transfer cards if you have bad credit. It could help you pay down debt and improve your credit, but there are fees to consider, and approval may be difficult

Potential Benefits of Balance Transfer Cards With Bad Credit

• May reduce interest costs: Moving your debt to a balance transfer credit card could lower your interest rate for a set period. This could help you save money on interest as you pay down your debt.

• May help pay off debt faster: Lower interest costs could allow more of your monthly payment to go toward the principal balance.

• Could improve credit utilization: Paying down transferred balances could lower your credit utilization ratio, which is a factor used in credit scoring models. Credit utilization is the percentage of total available revolving credit that you’re using.

• Can simplify repayment: Moving multiple balances onto one card may make it easier to track and keep up with payments.

Potential Drawbacks of Balance Transfer Cards With Bad Credit

• Approval can be challenging: Most creditors prefer to see a credit score of 670 or higher. It may be difficult to find a balance transfer credit card that accepts lower scores.

• Fees may apply: Most credit cards apply a balance transfer fee, and there could be additional fees on top of that. 

• Short or no introductory APR: The intro period, if there is one, is typically shorter. This means you’ll have less time to pay off your debt before paying interest.

• High regular APR: Credit card issuers typically charge those with lower credit scores higher APRs, sometimes above 35%.

• Lower credit limits: If you have a bad credit score, you will typically have a lower credit limit. This may or may not be enough to transfer all of your existing debt. 

Alternatives To Balance Transfer Cards

There may be other debt management tools that will be more helpful to people with bad credit. Here are some alternatives to consider if you have bad credit:

• Debt consolidation loan: A debt consolidation loan is a personal loan that allows you to consolidate debt from multiple high-interest accounts into one loan. Some require good credit, but not all. If you have a lower credit score, they may charge a higher interest rate.

• Debt management plan: This is a debt repayment program typically offered through a nonprofit credit counseling agency. The agency works with creditors to try to reduce interest rates or fees and combines eligible debts into a single monthly payment.

• Loan from family or a friend: It’s not easy to ask for help, but a friend or family member may be willing to assist. The best part about this option is that there’s no interest, fees and it doesn’t require a credit check. 

FAQ

What credit score do you need for a balance transfer card?

Most creditors require a credit score of 670 or higher to qualify for a balance transfer. However, it may be possible to qualify for a balance transfer card with a lower credit score, depending on the card and the credit card issuer.

Can you do a balance transfer with poor credit?

It may be possible to do a balance transfer with poor credit, but it can be challenging. There are typically fewer options if you don’t have good to excellent credit. 

What credit card has a $3,000 limit with bad credit?

One of the best ways to get a $3,000 limit with bad credit is with a secured credit card. These types of credit cards require a refundable security deposit, which also acts as your spending limit. If you deposit $3,000, then your credit limit is typically the same amount.

Can I get a balance transfer card with a 600 credit score?

You’re more likely to get a balance transfer card with a 600 credit score if you choose a secured credit card. However, it may need to be approved by the credit card issuer, and fees and the APR could be substantially higher.

How can you get a 0% balance transfer with poor credit?

To get a 0% balance transfer with poor credit, you will need to look for a credit card issuer that offers a 0% introductory period to subprime borrowers. These options may be difficult to find, and they often come with shorter introductory periods, higher fees or variable APRs.

Key Terms

• Balance transfer: Moving debt from one credit card to another, usually to take advantage of a lower or 0% introductory APR for a set period.

• Balance transfer fee: A charge for moving a balance to a new card, typically 3% to 5% of the transferred amount.

• Secured credit card: A card that requires a refundable security deposit, which usually sets your credit limit and makes approval more accessible for lower credit scores.

• FICO score: A widely used credit score that ranges from 300 to 850; "good" credit generally starts at 670.

• Credit utilization ratio: The percentage of your available revolving credit you're using; lower utilization generally helps your score.

• Introductory APR: A temporary, often 0%, interest rate that applies for a limited period before the regular APR takes over.

• Debt consolidation loan: A personal loan used to combine multiple debts into one monthly payment, ideally at a lower rate.

• Debt management plan: A repayment program through a nonprofit credit counseling agency that consolidates unsecured debts into one monthly payment, often at a negotiated lower rate, over three to five years.

Sources

• CFPB: What do I need to know about consolidating my credit card debt?

• FTC: How To Get Out of Debt

• myFICO: What Is a Credit Score?

• AnnualCreditReport.com: Free weekly credit reports

Summary generated by AI, verified by MoneyLion editors