Balance Transfer Credit Cards | Credit Sesame (2024)

Citi^® Diamond Preferred^® Card

Highlights

• 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 18.24% - 28.99%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
• There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
• Get free access to your FICO^® Score online.
• With Citi Entertainment^®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
• No Annual Fee - our low intro rates and all the benefits don’t come with a yearly charge.

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Citi Rewards+^® Card

Highlights

• Earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com
• Plus, for a limited time, earn 5 ThankYou^® Points per $1 spent on hotel, car rentals and attractions booked on the Citi Travel℠ portal through June 30, 2024.
• 0% Intro APR on balance transfers for 15 months from date of first transfer and on purchases from date of account opening. After that, the variable APR will be 18.74% - 28.74%, based on your creditworthiness. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
• Earn 2X ThankYou^® Points at Supermarkets and Gas Stations for the first $6,000 per year and then 1X Points thereafter. Plus, earn 1X ThankYou^® Points on All Other Purchases.
• The Citi Rewards+^® Card - the only credit card that automatically rounds up to the nearest 10 points on every purchase - with no cap.
• No Annual Fee

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Citi Custom Cash^® Card

Highlights

• Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou^® Points, which can be redeemed for $200 cash back.
• 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 19.24% - 29.24%, based on your creditworthiness.
• Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases.
• No rotating bonus categories to sign up for – as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.
• No Annual Fee
• Citi will only issue one Citi Custom Cash^® Card account per person.

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Citi Double Cash^® Card

Highlights

• Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou^® Points, which can be redeemed for $200 cash back.
• Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. To earn cash back, pay at least the minimum due on time. Plus, for a limited time, earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.
• Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 19.24% - 29.24%, based on your creditworthiness.
• Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
• If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
• There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).

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Chase Freedom Unlimited^®

Highlights

• INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
• Enjoy 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
• After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
• No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
• Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
• No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited^® card
• Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
• Member FDIC

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Transferring a balance means moving debt from one credit card to another. The company accepting the balance transfer typically makes a payment toward your debt on the first credit card, or they may provide you with checks you can write yourself to pay down your debt. You then owe the debt on the new credit card at the new interest rate.

In most cases, the issuer executing the transfer charges a fee for this service, typically between 2% and 5% of the amount of each balance transferred. This fee is automatically added to the new balance.

Saving money with a balance transfer depends on choosing the right credit card and managing the account responsibly. If you have a larger balance you want to transfer, you might benefit most from a credit card with a longer introductory APR period on balance transfers, giving you more time to pay down or pay off the debt before the regular APR applies.

You can also save money by choosing a credit card that has no annual fee, or if you can find one, that has no balance transfer fee. For example 3% balance transfer fee on a $5,000 balance would cost you $150.

When you apply for credit card that offers a low or 0% introductory APR on balance transfers, you’ll be asked about balances you want to transfer during the application process. Be prepared to provide the issuer’s name, the account number and the transfer amount in addition to your personal information and know that there will be a limit as to how much you can transfer.

If your application is approved and your credit limit is high enough to cover the amount you want to transfer, the issuer of the new credit card will transfer the requested amount. The balance transfer fee, if any, will be applied to your new account once the process is complete and will appear on your first monthly statement.

You can also wait until you are approved for the new credit card before you request the transfer. Some individuals prefer to know what the credit limit will be on the new credit card so that they avoid maxing out or heavily using the limit on it. High utilization on one credit card can hurt your credit score. If you handle the transfer this way, be sure to pay attention to any restrictions. Many 0% introductory APR balance transfer offers are only good on balances transferred within a certain number of days or months after account opening.

Pay attention to the regular interest rate on the new credit card, the balance transfer fee and the length of the promotional period. Read the offer in detail. For example, know whether a late payment will activate a higher interest rate and result in the introductory APR offer ending before the term is up.

Note that you will give up the interest-free grace period on new purchases if you transfer a balance. If you carry any balance on a credit card, interest on new purchases is charged from the date of the transaction.