Best Balance Transfer Cards For Good/Excellent Credit — January 2021

Is getting out of debt your goal for the new year? Then you might want to consider a balance transfer credit card. 

Paying off outstanding balances is a challenge, but these cards make it easier — and faster. That’s because many balance transfer cards offer zero-APR for 12 to 18 months, which means more of your money goes toward paying off the principal instead of the interest. 

However, not all balance transfer cards were created equal. And even though most can give you a break from costly credit card interest, you should still make a point to research and compare so that you pick the best card for your needs.

Most cards charge 3% to 5% of the amount you transfer, so to make sure you’re getting a good deal, take the transfer fee into account. You also want to make sure you can pay off as much of your balance as possible before the end of the intro period. To do this, add up your debt and divide it across the number of months in the introductory offer. 

To help you get started, check out Forbes Advisor’s picks for the best balance transfer cards of January 2021.

Citi Double Cash Card

Welcome bonus: None

Annual fee: None

Regular APR: 13.99% to 23.99% (variable)

Credit score requirements: Excellent (750 – 850)


With the Citi Double Dash, you can earn 2% cashback on all purchases — 1% at the time of purchase, plus 1% when you pay your monthly bill. To qualify for the cashback, you must make the minimum payment on time. 

Citi offers zero-APR on balance transfers for 18 months. Keep in mind that balance transfers are ineligible for cashback. When you transfer an outstanding balance, you will have to pay interest on new purchases unless you pay the total balance (as well as transfers) on time every month. The Citi Double Cash comes with a 3% fee for balance transfers, or $5, depending on the amount. 


BankAmericard Credit Card

Welcome bonus: None

Annual fee: None

Regular APR: 12.99% to 22.99% (variable)

Credit score requirements: Excellent/Good (700 – 749)


You don’t have to worry about interest payments on balance transfers or purchases for 18 months with this card. After that, the rate switches to 12.99% to 22.99%, depending on your credit. Like most balance transfer cards, you’ll have to pay 3% or $10 on the amount transferred. 

The BankAmericard also has no penalty APR, so you don’t have to worry about paying higher interest rates if you make a late payment. In addition, you can also check your FICO Score online for free when you use the lender’s mobile banking app.


Citi Simplicity

Welcome bonus: None

Annual fee: None

Regular APR: 14.74% to 24.74% (variable)

Credit score requirements: Good/Excellent (700 – 749)


The Citi Simplicity is a no-frills credit card. You don’t have to worry about late fees, penalty APRs, or annual fees. The 18-month intro APR offer begins when you make your initial transfer. You must complete all transfers within four months after opening an account. Once the introductory period ends, the rate changes to 14.74% to 24.74% depending on your credit.

If you complete a transfer during this promotion once your 0% introductory purchase rate ends, purchases and outstanding balances will accumulate interest until you pay them off. Each transfer costs 3% of the amount of $5, depending on which is more.

Citi also offers excellent customer service. You can contact a representative by phone 24/7 to assist with any questions or needs you may have. Plus, you can also enjoy flexible payment terms by setting the due date that’s most convenient for your schedule.


Wells Fargo Cash Wise Visa

Welcome bonus: $150 cash

Annual fee: None

Regular APR: 14.49% to 24.99%

Credit score requirements: Good/Excellent (700 – 749)


If you spend $500 within three months after opening an account, you can qualify for a $150 cash bonus. On top of that, you can enjoy 1.5% cashback on all purchases, with no limit to your rewards. You can also earn 1.8% on eligible digital wallet purchases during your first year as a cardholder.

Wells Fargo offers up to $600 cell phone protection for theft or damage when you use your credit card to pay your monthly phone bill. You can also get peace of mind with around-the-clock Fraud Monitoring, Alerts, & Zero Liability coverage when you report fraudulent purchases.


  • Frankel, Robin Saks. “Best Balance Transfer Credit Cards Of January 2021.” Forbes, Forbes Magazine, 29 Dec. 2020,
Ian Schindler