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By P. Griffiths
Last Updated Jun 1, 2023

Hands Down the Best Balance Transfer Card

The Discover it® Balance Transfer card offers 5% cash back on everyday purchases at different places each quarter (terms apply).

Apply Now
On Discover’s secure site

The Discover it® Balance Transfer card is the most well-rounded balance transfer card we review as it not only offers an incredibly long intro APR on balance transfers but also offers incredible cash back rewards.

  • $0 Annual Fee
  • 0% Intro APR on purchases for 6 months and 0% Intro APR on balance transfers for 18 months, followed by 16.99% - 27.99% Variable APR
  • INTRO OFFER: Discover will match all the cash back you’ve earned at the end of your first year.
  • Ongoing cash back rewards
  • Apply Now

Generous Introductory APR

Getting approved for the Discover it® Balance Transfer card means you’ll get a 0% Intro APR on purchases for 6 months and 0% Intro APR on balance transfers for 18 months, followed by 16.99% - 27.99% Variable APR. There is an intro balance transfer fee of 3% that goes up to 5% on future balance transfers (see terms), but this fee is usually worth it if you’re currently carrying a balance on another card that charges interest. 

With the Discover it® Balance Transfer card, Discover will match all the cash back you’ve earned at the end of your first year.
Apply Now
on Discover's secure site

Earn 5% Cash Back

You’ll earn a generous 5% back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants and gas stations (up to $1,500 in combined purchases each quarter, then you earn 1%). You do have to activate the 5% categories each quarter, but they make it easy to do so online or over the phone. You will earn 1% back on all of your other purchases. 

Unlimited Cashback Match

Discover’s unique cash back bonus can really add up to a big payout at the end of your first year. All of the cash back you’ve earned in that first year is matched. There are no minimums or hoops to jump through to earn this bonus. It’s easy and can be very lucrative if you use your card regularly and take advantage of the 5% categories.

Additional Benefits

Discover rounds out its benefits with quite a few additional perks for their cardholders. Free credit scores, no foreign transaction fees, free social security number monitoring and over 100 card designs to choose from are just a few. It is hard to believe with all of the amazing benefits we have outlined but there is no annual fee for this card. Select ‘Apply Now‘ to view all the additional benefits this card has to offer. 

Discover it® Balance Transfer

Annual Fee
$0
Cash Rewards
Earn 5% Cash Back At Different Places Each Quarter Up To The Quarterly Maximum When You Activate. Earn 1% Unlimited Cash Back On All Other Purchases – Automatically
Purchase APR
0% Intro APR on purchases for 6 months, then 16.99% – 27.99% Variable APR
Balance Transfer APR
0% Intro APR on balance transfers for 18 months, then 16.99% – 27.99% Variable APR
Welcome Bonus
Discover will match all the cash back you’ve earned at the end of your first year.
Recommended Credit Score
Excellent/Good 670 – 850*
View All Card Details

Other Balance Transfer Options

We think the Discover it® Balance Transfer card is tough to beat but we have rounded up some other options from our partners that may appeal to you as well.

Great for Balance Transfers and 2% Cash Back

Apply Now
On Citi®’s secure site
Recommended Credit Score
670 – 850*
View All Card Details

Citi® Double Cash Card – 18 month BT offer

If you are looking for an easy to understand, flat rate, cash back credit card that pays an above-average rate of 2% (1% when you buy and 1% as you pay), then this is a fantastic option for you. If you are looking for additional savings you can get immediate relief from interest payments on your existing high-interest credit card debt by transferring those balance(s) and accepting the 18-month 0% APR balance transfer offer terms. There is a reasonable balance transfer fee and the ongoing APR of 18.99% – 28.99% (Variable) will apply after the introductory rate is up after 18 months. Even with the higher than average cash back rate, this card does not charge an annual fee.

Generous Bonus & A Very Long Intro APR

Apply Now
On Bank of America’s secure site
Recommended Credit Score
670 – 850*
View All Card Details

Bank of America® Travel Rewards credit card

If you prefer a $0 annual fee card that will help you earn points towards travel and dining purchases then this card is likely your top option. With the Bank of America® Travel Rewards credit card you will earn a straightforward, unlimited 1.5 points per $1 spent on all purchases. You can also earn a 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening. These bonus points can be redeemed for a $250 statement credit toward travel and dining purchases. Unlike most travel cards this option also offers an incredibly generous intro APR. It offers 0% Intro APR for 18 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends a 17.99% - 27.99% Variable APR will apply.

As you can see, it is a great time to be in the market for a new credit card. Issuers are really stepping up their game and offering incredible perks to win your business. If you have good to excellent credit in the 670 – 850* range and have not recently applied for a new credit card then you should definitely apply for one of these stand out options today.

On Discover´s Secure Website


Editorial Note: Any opinions, analyses, reviews or recommendations expressed are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
*CardCritics references a FICO® 8 score, which is one of many different types of credit scores. A financial institution may use a different score when evaluating your application.



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