Paying off credit card debt can feel insurmountable — even as you make minimum payments, the interest accumulates. With a balance transfer credit card that offers a low or 0% introductory APR, you can save hundreds or thousands of dollars in interest. This means that every penny is applied to the principal amount, and you’ll see a steady decrease in your balance.
Balance transfer cards are readily available to those with good or excellent credit — but even if you have fair credit (a score ranging from 580 to 669) or bad credit (a score below 580), you do have a chance at getting a balance transfer card.
Below you’ll find six balance transfer cards that are available to those with fair or bad credit. Plus learn about alternatives to balance transfers and tips on how to improve your credit score.
You have fair credit when your credit score is between 580 and 669. There are a variety of credit cards for individuals with fair credit — however, none of them come with 0% intro APRs on balance transfers.
You will find some good cards that offer below-average APRs on balance transfers, which will help you save money on interest charges for the length of the offer.
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.Balance transfer intro APR: 10.99% Intro APR for 6 months, followed by a 17.49% - 26.49% Variable APR *Rates as of December 12, 2024
The Discover it® Student Cash Back is a $0-annual-fee card designed for students with limited / fair credit. It offers a 10.99% Intro APR for 6 months on balance transfers. After that, a 17.49% - 26.49% Variable APR *Rates as of December 12, 2024 applies.
Cardholders earn 5% cash back at different places each quarter up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases - automatically. In addition, cardholders get the following sign-up bonus: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 cash back into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.Balance transfer intro APR: 10.99% Intro APR for 6 months, followed by a 17.49% - 26.49% Variable APR *Rates as of December 12, 2024
If you’re a student with limited / fair credit who wants to receive a lower interest rate on balance transfers for half a year, the Discover it® Student Chrome may be a good fit. It offers an intro APR on balance transfers of 10.99% Intro APR for 6 months. Then, a 17.49% - 26.49% Variable APR *Rates as of December 12, 2024 applies.
You can also earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically.
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.Balance transfer intro APR: 0% intro APR for 12 months on balance transfers, then 12.75% - 17.99% variable APR
The ESL Visa® Credit Card offers great potential savings on balance transfers since it doesn’t charge a balance transfer fee. Balance transfer fees range from 3% to 5%, so a balance transfer of $1,000 could save you $30 to $50. Additional savings come with an introductory 0% intro APR for 12 months on balance transfers, then 12.75% - 17.99% variable APR.
You’re required to join ESL Federal Credit Union in order to apply for the credit card, but there are workarounds to join if you don’t meet the general eligibility requirements.
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.Balance transfer intro APR: 0.99% introductory APR for 12 months for balance transfers requested within 60 days of account opening. Followed by 11.49% to 18.00% (variable)
The Navy Federal Platinum Credit Card offers a 0.99% introductory APR for 12 months for balance transfers requested within 60 days of account opening. After that, you’ll get a relatively low APR of 11.49% to 18.00% (variable). Plus, unlike many other cards with balance transfer offers, it doesn’t have any balance transfer fees and accepts applicants with fair credit.
There are no annual fees or foreign transaction fees with the Navy Federal Platinum Credit Card. However, to apply for the card, you’ll need to be a member of the Navy Federal Credit Union. You’ll need to be a member of the armed forces, the Department of Defense, or a veteran, or a family member of one of the above to become a member.
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.
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Balance transfer APR: 14.99% - 29.99% APR
The Upgrade Cash Rewards Visa® offers potential savings on balance transfers. Open to applicants with fair credit, this unsecured card might be an option if you’re approved for a credit line that’s large enough for your balance transfer and offers an interest rate less than what you’re paying currently.
A bad credit score is a FICO Score of less than 580. Getting a credit card with bad credit is possible, but you generally won’t get a 0% intro APR.
The Discover it® Secured Credit Card accepts applicants with limited / poor credit. As a secured card, you’ll have to make a deposit that protects the issuer if you don’t repay what you borrow. Your deposit is refunded when you close your account or upgrade to an unsecured card.
How LendingTree Rates Credit Cards?
Our experts rate credit cards based on several factors including card benefits, bonus offers and independent research. Credit card issuers do not influence or have a say in our card ratings. Read our credit card methodology here.Balance transfer intro APR: 10.99% Intro APR for 6 months, followed by a 27.49% Variable APR *Rates as of December 12, 2024
The Discover it® Secured Credit Card offers a 10.99% Intro APR for 6 months on balance transfers, then a 27.49% Variable APR *Rates as of December 12, 2024 applies. It’s available to those with limited / poor credit and has a $0 annual fee, making it a low-cost way to do a balance transfer if you have bad credit.
Once you’ve had the card for seven months, Discover will begin automatic monthly account reviews to see if you’re eligible to graduate to an unsecured card. However, you should know that Discover checks your financial behavior across all of your credit cards and loans, not just those with Discover.
Balance transfers are useful for paying off debt, but there’s no need to despair if you can’t get one.
An obvious option is to improve your credit score and apply again after some time. This may take a while, but you can expect to see your credit score rise by prioritizing on-time payments and a low credit utilization ratio.
If you have more than one credit card, consider transferring one balance to the other card, though this will only work under a few conditions. The cards must be from different issuing banks. You cannot transfer a balance from one Chase card to another Chase card.
Further, the amount you can transfer depends on your available credit on the card. If you have a $2,000 credit limit and no balance, you may be able to transfer an amount close to $2,000 once you include balance transfer fees.
Note that the best balance transfer offers on the APR and/or balance transfer fee are usually reserved for new accounts. As such, it might not be the best financial option even if you can do a balance transfer.
There’s no guarantee that your credit card issuer will give you a lower APR, but it’s worth asking. And, you might be pleasantly surprised — a LendingTree study found that 76% of requests to lower credit card interest rates were granted. The study also found that more than 9 out of 10 requests to waive late fees or annual fees were granted.
A personal loan or a debt consolidation loan may offer you some much-needed relief while paying off debt. The average credit card interest rate is 24.72%, while many debt consolidation and personal loans have rates in the 6% to 10% range.
You may have heard of the debt snowball or debt avalanche strategies for becoming debt-free, but did you know they aren’t the only ones? Be careful not to get too bogged down in choosing the best strategy for paying off your debt. No matter which you choose, the end result is the same: You’re debt-free! The best one for you is the one that you’ll stick to.
Earning more money to pay down debt is a great strategy you can use in conjunction with any of the above ideas. Earn extra cash by working part-time or start a side hustle. Every little bit helps.
Found a card you’re interested in? Learn more about how to apply for a credit card to improve your chances of being approved.Improving your credit score increases your chances of being approved for a balance transfer credit card with a 0% APR. You can boost your credit score with these tried and true methods.
A good credit score, according to FICO, ranges from 670 to 739 — meanwhile, a good VantageScore is between 661 and 780. Any number higher than these, and up to the top score of 850, is considered to be a good-to-excellent credit score.
You can check your credit score with LendingTree Spring. You may also request a free copy of your credit report weekly from each of the three credit bureaus by visiting AnnualCreditReport.com.
A balance transfer occurs when you transfer one credit card’s balance to another credit card. This is usually done to take advantage of introductory 0% APRs, or at least ones that are significantly lower than the APR on the previous card. Note that balance transfer fees of 3% to 5% of the amount transferred are common, though some no-fee balance transfer cards are available.
The information related to the Discover it® Student Cash Back, Discover it® Student Chrome, ESL Visa® Credit Card, Navy Federal Platinum Credit Card, Discover it® Secured Credit Card, Discover it® Cash Back and Wells Fargo Active Cash® Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The content above is not provided by any issuer. Any opinions expressed are those of LendingTree alone and have not been reviewed, approved, or otherwise endorsed by any issuer. The offers and/or promotions mentioned above may have changed, expired, or are no longer available. Check the issuer's website for more details.
