The best travel rewards credit cards for balance transfers offer generous welcome bonuses, low introductory interest rates on balance transfers, and flexible rewards redemption options. If you're looking to consolidate debt and earn rewards on travel purchases, these cards can be a great option.
The Best Travel Rewards Credit Cards for Balance Transfers
Balancing multiple credit card accounts can be a hassle, not to mention expensive. If you're carrying high-interest debt on your cards, consolidating them into a single account with a lower interest rate can save you significant money. However, finding a credit card that offers both balance transfer flexibility and travel rewards can be a challenge.
What to Look for in a Travel Rewards Balance Transfer Card
* 0% Introductory APR on Balance Transfers: This gives you a grace period of no interest on your transferred debt, allowing you to pay it off faster.
* Long Introductory Period: The longer the introductory period, the more time you have to pay down your debt before the regular interest rate kicks in.
* Low Regular APR: Once the introductory period ends, you'll want a card with a low regular APR to minimize interest charges.
* Travel Rewards: Look for cards that offer rewards points or miles that can be redeemed for flights, hotels, or other travel experiences.
* Balance Transfer Fee: Most cards charge a balance transfer fee, typically 3-5% of the amount transferred. Factor this into your decision to ensure the savings on interest outweigh the fees.
Top Picks for Travel Rewards Balance Transfer Cards
* Chase Sapphire Preferred Card: 0% intro APR for 15 months on balance transfers, plus 2X points on travel and dining purchases.
* Citi Premier® Card: 0% intro APR for 21 months on balance transfers, plus 3X points on dining, travel, gas, and grocery purchases.
* Discover it® Balance Transfer Card: 0% intro APR for 18 months on balance transfers, plus unlimited 5% cash back on select rotating categories each quarter.
* Capital One Venture Rewards Credit Card: 0% intro APR for 15 months on balance transfers, plus 2X miles on all purchases.
* Wells Fargo Active Cash® Visa® Card: 0% intro APR for 15 months on balance transfers, plus 2% cash back on all purchases.
Tips for Using Travel Rewards Balance Transfer Cards
* Transfer your balances wisely: Only transfer debt from high-interest cards to save the most money.
* Make timely payments: This will help you avoid penalty interest rates and build your credit score.
* Take advantage of the introductory APR: Use this grace period to pay down as much debt as possible before the interest charges start.
* Maximize your travel rewards: Use the points or miles you earn on your purchases to redeem for free or discounted travel experiences.
* Consider the balance transfer fee: Calculate the total cost of the balance transfer, including the fee, to ensure it's still a worthwhile option.
By choosing the right travel rewards balance transfer credit card, you can consolidate your debt, save money on interest charges, and earn rewards towards future travel adventures.
How to Choose the Right Travel Rewards Credit Card for a Balance Transfer
The Best Travel Rewards Credit Cards for Balance Transfers
If you're carrying a high-interest balance on your credit card, a travel rewards credit card with a balance transfer offer can be an excellent way to save money. These cards typically offer 0% introductory APR on balance transfers for a limited time, allowing you to pay off your debt faster while earning valuable travel rewards.
When choosing a balance transfer card, consider the following factors:
* Introductory APR: Look for cards with the longest 0% introductory APR period. This gives you more time to pay off your balance without incurring interest charges.
* Balance transfer fee: Most balance transfer cards charge a fee, typically 3-5% of the amount transferred. Choose a card with a low fee to minimize the cost of transferring your balance.
* Reward earning potential: Once your introductory APR period ends, you'll want to maximize your reward earning. Look for cards that offer generous rewards for everyday purchases, such as cash back, miles, or points.
* Travel benefits: If you're a frequent traveler, consider cards that offer valuable travel benefits, such as airport lounge access, free checked bags, or priority boarding.
Here are a few top-rated travel rewards credit cards for balance transfers:
* Chase Slate Edge: Offers 0% introductory APR for 15 months on balance transfers and purchases, plus a low balance transfer fee of 3%.
* Citi® Diamond Preferred® Card: Features 0% introductory APR for 21 months on balance transfers, with a slightly higher balance transfer fee of 5%.
* Discover it® Balance Transfer Card: Provides 0% introductory APR for 18 months on balance transfers, with a competitive balance transfer fee of 3%.
Remember to always pay your balance in full each month to avoid paying interest charges and maximize your rewards earnings. By choosing the right travel rewards credit card for your needs, you can save money on your debt and earn valuable travel perks along the way.
The Benefits of Using a Travel Rewards Credit Card for a Balance Transfer
The Best Travel Rewards Credit Cards for Balance Transfers
If you're carrying a hefty balance on high-interest credit cards, a balance transfer to a travel rewards credit card can be a wise financial move. Not only can it save you money on interest charges, but it can also earn you valuable rewards towards future travel.
How Balance Transfers Work
A balance transfer involves moving an existing credit card balance to a new credit card with a lower interest rate or a promotional 0% APR period. By doing so, you can consolidate your debt and pay it off at a reduced cost.
Benefits of Using a Travel Rewards Credit Card
Travel rewards credit cards offer a host of benefits that can make a balance transfer even more rewarding:
* Earn points or miles: Every dollar you spend on your balance transfer (and future purchases) earns you valuable rewards points or miles. These rewards can be redeemed for free flights, hotel stays, car rentals, and other travel perks.
* 0% introductory APR: Many travel rewards cards offer a 0% introductory APR on balance transfers, which means you can avoid paying interest on your balance for a set period. This can give you a head start on paying down your debt without accumulating additional interest charges.
* Low balance transfer fees: Some travel rewards cards charge a balance transfer fee, but these fees are typically lower than the interest rates on other cards.
Top Travel Rewards Credit Cards for Balance Transfers
Here are a few of the best travel rewards credit cards for balance transfers:
* Chase Sapphire Preferred® Card: Offers a 0% introductory APR on balance transfers for 15 months, plus 60,000 bonus points after spending $4,000 in the first 3 months.
* Citi Premier® Card: Provides a 0% introductory APR on balance transfers for 18 months, plus 80,000 bonus points after spending $4,000 in the first 3 months.
* American Express® Gold Card: Offers a 0% introductory APR on balance transfers for 12 months, plus 60,000 bonus points after spending $4,000 in the first 6 months.
Important Considerations
Before you apply for a balance transfer credit card, there are a few important factors to keep in mind:
* Credit score: To qualify for the best balance transfer credit cards, you'll need a good to excellent credit score.
* Fees: Consider the annual fee and any other fees associated with the card, such as balance transfer fees or foreign transaction fees.
* Terms and conditions: Read the fine print carefully to understand the interest rates, fees, and rewards structure before you apply.
By choosing the right travel rewards credit card for your balance transfer, you can not only save money on interest charges but also earn valuable rewards towards your next adventure.
**Conclusion:**
The best travel rewards credit card for balance transfers will depend on individual circumstances, such as creditworthiness, spending habits, and travel goals.
The Chase Sapphire Preferred® Card offers a 0% APR on balance transfers for 15 months, allowing cardholders to pay off debt while earning valuable rewards.
For those seeking a longer balance transfer APR period, the Citi® Diamond Preferred® Card provides 21 months at 0% APR, providing ample time to reduce debt.
The Capital One Venture Rewards Credit Card offers a competitive balance transfer APR of 16.99% and a generous welcome bonus, making it a great option for those looking to travel and earn rewards on future purchases.
Ultimately, the best travel rewards credit card for balance transfers is one that aligns with the individual's specific needs and financial situation. By considering the factors discussed in this article, consumers can make an informed decision and take advantage of the numerous benefits offered by balance transfer credit cards.
