Are you looking for the best balance transfer credit cards to help manage your credit card debt more effectively? We’ve got you covered. In this article, we’ll explore some of the top options available in October 2023. These cards not only offer great introductory APR offers but also come with additional benefits and rewards. Let’s dive in and find the right card for you.
Bank of America® Customized Cash Rewards Credit Card
Why we love it:
The Bank of America Customized Cash Rewards card is a solid cash-back credit card with a compelling, customizable rewards structure, making it perfect for individuals whose spending habits change throughout the year.
Who should use it:
This card can be especially lucrative for anyone with significant banking or investing relationships with Bank of America.
Why it’s in my wallet:
“I love having the Bank of America Customized Cash Rewards card in my wallet because it allows me to pick a 3% cash-back earning category each month. If I know I have upcoming purchases that don’t align with my other cards’ earning rates, I can simply switch my 3% category and use this card to maximize my rewards. Plus, the Bank of America app provides clear information on which merchants fall into each spending category, making my choice easy.” — Gabe Travers, VP of engineering
Alternative card option(s): If you prefer a simpler rewards structure, consider the Bank of America®️ Premium Rewards®️ credit card, which offers unlimited 2 points per dollar on travel and dining, and 1.5 points per dollar on all other purchases, along with additional perks.
Wells Fargo Reflect® Card
Why we love it:
The Wells Fargo Reflect Card may not have a multitude of benefits, but it does come with a lengthy introductory annual percentage rate period, making it an excellent choice for balance transfers.
Who should use it:
If you anticipate needing balance transfers for an extended period, this card is a great option.
Why it should be in your wallet:
While the card doesn’t offer points, miles, or cash-back rewards, it does provide up to $600 of cellphone protection against damage and theft when you pay your monthly cellphone bill with the card (subject to a $25 deductible).
Alternative card option(s): If you prefer another issuer, the Citi® Diamond Preferred® Card offers a 0% introductory APR for new purchases for the first 12 months after account opening, and a 0% introductory APR for 21 months from the date of the first transfer for balance transfers completed within the first four months of account opening.
Blue Cash Preferred® Card from American Express
Why we love it:
The Blue Cash Preferred Card offers lucrative cash back in several spending categories, such as 6% back on select U.S. streaming subscriptions and at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
Who should use it:
If you frequently spend at U.S. supermarkets and on U.S. streaming services, this card is a great option for earning cash back.
Why it’s in my wallet:
“The Blue Cash Preferred Card is the one I recommended to my parents when they needed a new cash-back rewards card for their groceries. They prefer the simplicity of cash-back rewards, and earning 6% cash back on up to $6,000 per year in purchases at U.S. supermarkets made it an easy choice. Compared to the 1.5% cash back they were earning previously, the increased earnings justified adding this card to their wallet.” — Katie Genter, senior writer
Alternative card option(s): If you want similar benefits but with no annual fee, consider the Blue Cash Everyday® Card from American Express, which earns 3% back at U.S. supermarkets, U.S. online retail purchases, and U.S. gas stations.
Blue Cash Everyday® Card from American Express
Why we love it:
The Blue Cash Everyday Card offers solid returns on popular spending categories without an annual fee, along with some additional perks.
Who should use it:
This card is ideal for those who prefer cash-back cards without annual fees. It’s also a great option for students and young professionals looking to build credit while earning modest rewards.
Why it’s in my wallet:
“I added this card to my wallet shortly after getting my first travel card as a way to earn better rewards on gas and groceries. Earning 3% back on both categories was a fantastic opportunity to earn higher cash back on my everyday purchases without any additional annual fees.” — Jack Markham, senior director
Alternative card option(s): If you want more options for using your earnings, consider the Citi Double Cash Card, which has no annual fee and earns 2 points per dollar on all purchases. You can either cash out these points or transfer them to airline and hotel partners for travel.
Citi Rewards+® Card
Why we love it:
The Citi Rewards+ Card offers two unique features: rounding up earnings on all purchases to the nearest 10 points and giving you a 10% back on the first 100,000 points you redeem yearly.
Who should use it:
This card is perfect if you frequently make small purchases, as each purchase will be rounded up to the nearest 10 points. Even a $1 pack of gum will earn you 10 points.
Why it should be in your wallet:
This card pairs well with the Citi Prestige Card (not available to new applicants) or Citi Premier Card. If you have one of those cards, you can transfer your rewards to the ThankYou Rewards program’s airline and hotel partners.
Alternative card option(s): Consider the Amex EveryDay® Credit Card from American Express, which is similar to the Citi Rewards+ card. It accrues 2 points per dollar on the first $6,000 spent at U.S. supermarkets each year (then 1 point). Additionally, the card rewards making at least 20 transactions in a month with a 20% points bonus.
Note: The information for the Amex Everyday has been independently collected by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Conclusion
Choosing the right balance transfer credit card can make a significant difference in managing your credit card debt. Consider the options we’ve highlighted above and select the one that suits your needs best. Remember to compare introductory offers, balance transfer fees, and additional benefits to find the perfect fit. Stay on top of your finances and start your journey towards financial freedom with the right credit card in your wallet.
For more informative articles and helpful tips, visit ATICE.INFO.
Disclaimer: The above information is for informational purposes only and should not be considered financial or credit advice. Please consult with a professional advisor before making any financial decisions.