Top Balance Transfer Cards This Week: Regain Control of Your Debt

What if your credit card payments actually reduced what you owe? A balance transfer card can help make that happen. When interest rates are close to 21%, much of each payment can disappear into finance charges, but with as long as 21 months at a 0% introductory APR, more of your money can go toward principal.

Many of these cards also come with no annual fee, and some even offer cash back rewards. That kind of runway can give you time to make meaningful progress instead of feeling stuck.

If you're looking for a way to get ahead of credit card debt, these are the balance transfer cards worth considering this week.

What to know before applying for a balance transfer card

A balance transfer card can be a powerful tool for paying down debt, but it helps to understand the basics first. Keep these points in mind before you apply.

Most balance transfer cards require a FICO® Score around 670 or above

Applicants with good or excellent credit generally have the strongest chance of approval. Even so, issuers also look at income and existing debt, which can sometimes offset a lower credit score.

Try to pay off the transferred balance before the 0% intro APR expires

After the promotional period ends, any remaining balance will start accruing the card's regular APR, which is often around 18% or more.

To stay on track:

• Create a repayment plan that gets the balance paid off on time
• Pick a balance transfer card with a promotional period long enough for your needs
• Hold off on new purchases until the transferred balance is fully repaid

You can't move debt to another card from the same issuer

If you already have a Chase card, for example, you won't be able to transfer that balance to a new Chase card. Issuers typically offer balance transfers to attract new customers, not to shuffle debt between their own accounts.

Missing payments can cause the 0% intro APR to end early

Keep in mind that 0% intro APR does not mean no payment is required. If you fail to make at least the minimum payment on time each month, the issuer may end the promotional rate early and switch you to the standard APR.

Take back control with a strong balance transfer card

A balance transfer card can help you save a significant amount of money and may also give your credit score a boost over time. If it seems like the right fit for your situation, apply sooner rather than later and start working down your debt. Click here to see more of our favorite balance transfer cards.