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This question is about Balance Transfer Credit Cards
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The best debt consolidation credit card is the U.S. Bank Visa® Platinum Card because it offers an intro APR of 0% for 18 billing cycles on balance transfers, along with a $0 annual fee. You can avoid finance charges for more than half a year longer than average with this card, which should produce lots of savings.
When comparing credit cards for debt consolidation, your goal should be to find an offer that will reduce the total cost of your debt and shorten your timeline to debt freedom. Usually, the best credit cards for debt consolidation have 0% introductory APRs, $0 annual fees, low balance transfer fees, and high enough credit limits to accommodate balance transfers from numerous accounts.
Best Debt Consolidation Credit Cards
Citi Simplicity® Card
Transfer Intro APR: 0% for 21 months
Regular APR: 19.24% - 29.99% (V)
Balance Transfer Fee: 3% intro fee ($5 min) for each transfer in first 4 months, and 5% ($5 min) for each transfer after that
Ongoing Rewards: N/A
Annual Fee: $0
Minimum Credit Required: Good
Citi® Diamond Preferred® Card
Transfer Intro APR: 0% for 21 months
Regular APR: 18.24% - 28.99% (V)
Balance Transfer Fee: 5% (min $5)
Ongoing Rewards: N/A
Annual Fee: $0
Minimum Credit Required: Good
Wells Fargo Reflect® Card
Transfer Intro APR: 0% for 21 months from account opening on qualifying balance transfers
Regular APR: 18.24% - 29.99% Variable
Balance Transfer Fee: 5% (min $5)
Ongoing Rewards: N/A
Annual Fee: $0
Minimum Credit Required: Good
BankAmericard® credit card
Transfer Intro APR: 0% for 18 billing cycles for any balance transfers made in the first 60 days
Regular APR: 16.24% - 26.24% Variable
Balance Transfer Fee: 3%
Ongoing Rewards: N/A
Annual Fee: $0
Minimum Credit Required: Excellent
Citi Double Cash® Card
Transfer Intro APR: 0% for 18 months
Regular APR: 19.24% - 29.24% (V)
Balance Transfer Fee: 3% intro fee ($5 min) for each transfer in first 4 months, after that 5% ($5 min) for each transfer
Ongoing Rewards: 2% cash back on every purchase (1% when you buy and 1% as you pay for those purchases), plus 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24
Annual Fee: $0
Minimum Credit Required: Fair
Wells Fargo Active Cash® Card
Transfer Intro APR: 0% for 15 months from account opening on qualifying balance transfers
Regular APR: 20.24% - 29.99% Variable
Balance Transfer Fee: 3% intro for 120 days, then up to 5% (min $5)
Ongoing Rewards: 2% cash rewards on purchases
Annual Fee: $0
Minimum Credit Required: Good
In general, the best debt consolidation credit cards are those with the best combination of 0% APRs, low fees, and high credit limits. You can run the numbers on your options with our balance transfer calculator.
Bear in mind that a lot depends on your credit standing. Usually, there aren’t too many debt consolidation credit cards for people with less-than-good credit.
This answer was first published on 01/17/19 and it was last updated on 05/20/24. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
![Best Debt Consolidation Credit Cards in 2024 (8) Best Debt Consolidation Credit Cards in 2024 (8)](https://i0.wp.com/cdn.wallethub.com/common/product/images/creditcards/130/citi-diamond-preferred-card-1317120c.png)
Transfer Intro APR: 0% for 21 months
Regular APR: 18.24% - 28.99% (V)
Balance Transfer Fee: 5% (min $5)
Ongoing Rewards: N/A
Annual Fee: $0
Minimum Credit Required: Good
![Best Debt Consolidation Credit Cards in 2024 (9) Best Debt Consolidation Credit Cards in 2024 (9)](https://i0.wp.com/cdn.wallethub.com/common/product/images/creditcards/130/wells-fargo-reflect-card-13133353c.png)
Transfer Intro APR: 0% for 21 months from account opening on qualifying balance transfers
Regular APR: 18.24% - 29.99% Variable
Balance Transfer Fee: 5% (min $5)
Ongoing Rewards: N/A
Annual Fee: $0
Minimum Credit Required: Good
![Best Debt Consolidation Credit Cards in 2024 (10) Best Debt Consolidation Credit Cards in 2024 (10)](https://i0.wp.com/cdn.wallethub.com/common/product/images/creditcards/130/bank-of-america-credit-card-1542146c.jpg)
Transfer Intro APR: 0% for 18 billing cycles for any balance transfers made in the first 60 days
Regular APR: 16.24% - 26.24% Variable
Balance Transfer Fee: 3%
Ongoing Rewards: N/A
Annual Fee: $0
Minimum Credit Required: Excellent
![Best Debt Consolidation Credit Cards in 2024 (11) Best Debt Consolidation Credit Cards in 2024 (11)](https://i0.wp.com/cdn.wallethub.com/common/product/images/creditcards/130/citi-double-cash-card-1235121c.png)
Transfer Intro APR: 0% for 18 months
Regular APR: 19.24% - 29.24% (V)
Balance Transfer Fee: 3% intro fee ($5 min) for each transfer in first 4 months, after that 5% ($5 min) for each transfer
Ongoing Rewards: 2% cash back on every purchase (1% when you buy and 1% as you pay for those purchases), plus 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24
Annual Fee: $0
Minimum Credit Required: Fair
Wells Fargo Active Cash® Card
Transfer Intro APR: 0% for 15 months from account opening on qualifying balance transfers
Regular APR: 20.24% - 29.99% Variable
Balance Transfer Fee: 3% intro for 120 days, then up to 5% (min $5)
Ongoing Rewards: 2% cash rewards on purchases
Annual Fee: $0
Minimum Credit Required: Good
In general, the best debt consolidation credit cards are those with the best combination of 0% APRs, low fees, and high credit limits. You can run the numbers on your options with our balance transfer calculator.
Bear in mind that a lot depends on your credit standing. Usually, there aren’t too many debt consolidation credit cards for people with less-than-good credit.
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0% for 21 Months from Account Opening
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What is the best way to consolidate debt?
The best way to consolidate debt is to take out a new loan or credit card that has a lower APR than all of the original debts and then use it to pay off the original debts. This turns multiple monthly payments into one and reduces the cost of the total amount owed, allowing the borrower to get debt-free sooner. The best debt consolidation options will not charge any fees to complete this move, either.
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What are the risks of debt consolidation?
The biggest risks associated with debt consolidation include credit score damage, fees, the potential to not receive low enough rates, and the possibility of losing any collateral you put up. Another danger of debt consolidation is winding up with more debt than you start with, if you’re not careful.
While debt consolidation can often save borrowers money and help them pay off their debts faster, it’s important to consider all of the potential dangers...
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