If you’re carrying a balance on your credit card from month to month, you’re not alone. In fact, the average American household owes $6,929 in credit card debt, according to a 2019 report from CNBC. And with interest rates at all-time highs, that debt is only going to become more expensive to carry.
Balance transfer credit cards can help lighten the load by giving you a 0% introductory APR period on transferred balances. That means you can save on interest and pay down your debt more quickly. But with so many balance transfer offers on the market, it can be hard to know which card is right for you.
That’s where we come in. We’ve evaluated dozens of balance transfer credit card offers and selected our top picks for 2022. Whether you’re looking for a lengthy intro period or some extra perks, we’ve got a card for you. Read on to learn about our picks for the best balance transfer credit cards of 2022.
The Citi Simplicity® Card
No Late Fees Ever is our pick for the best balance transfer credit card overall because it offers an extended 0% intro APR period and doesn’t charge any late fees or penalty rates. This makes it an ideal choice if you’re trying to get out of debt as quickly and cheaply as possible.
If you’re looking for a balance transfer credit card with some extra perks, the Chase Slate® is a good option. It offers a lengthy 0% intro APR period on both transferred balances and new purchases, plus it provides helpful tools like access to your FICO® Score so you can monitor your progress.
And if you have good credit and are looking for an even longer 0% intro APR period, the Wells Fargo Platinum Visa® Card offers 18 months on both transferred balances and new purchases. Plus, there’s no annual fee to worry about.
Conclusion
There are plenty of great balance transfer credit cards on the market, but these three stand out from the crowd. If you’re trying to get out of debt as quickly and cheaply as possible, the Citi Simplicity® Card – No Late Fees Ever is our top pick because of its extended 0% intro APR period and lack of late fees or penalty rates.
But if you’re looking for a balance transfer credit card with some extra perks like access to your FICO® Score, the Chase Slate® is a good option thanks to its lengthy 0% intro APR period and helpful tools. And if you have good credit and want an even longer 0% intro APR period, the Wells Fargo Platinum Visa® Card should be at the top of your list with its 18-month 0% intro APR offer and lack of an annual fee. No matter which card you choose, transferring your balance to one of these cards can help save you money on interest and get you out of debt faster.
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