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Consider factors like ongoing APR and balance transfer fee
Most Rewarding Balance Transfer Credit Cards for Travelers
Posted on May 2, 2023
Updated on May 2, 2023
The best 0% balance transfer credit cards are already rewarding because they offer an incredible promotional rate. But frankly, nobody wants to miss out on a chance to get rewards and use miles or points on an upcoming trip or to pay for some travel expenses. Below you will find out whether it is possible and well worth it.
Balance Transfer Credit Cards for Travel Rewards
Balance transfer credit cards can bring you lots of benefits. Moving your existing credit card balance to another card, ideally one with a lower interest rate, will essentially allow you to pay off your credit card debt more quickly and less costly. But if you're wondering whether a balance transfer will earn you miles, cash back, points or other rewards, the answer is no. A balance transfer is not considered as a purchase and does not earn rewards.
The cards below are some of the few balance transfer cards that offer an interest-free period and an opportunity to earn travel rewards on everyday spending, providing your credit limit is sufficient.
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Intro APR on Purchases
0% intro APR for 15 months from account opening
Intro APR on Balance Transfer
0% intro APR for 15 months from account opening on qualifying balance transfers
Regular APR
19.99%, 24.99%, or 29.99% variable APR
Balance Transfer Fee
3% for 120 days from account opening, then up to 5%; min: $5
Annual Fee
$0
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months
- Earn unlimited 2% cash rewards on purchases
- 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 19.99%, 24.99%, or 29.99% variable APR; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5
- $0 annual fee
- No categories to track or remember and cash rewards don't expire as long as your account remains open
- Enjoy a premium collection of benefits at a selection of the world's most intriguing and prestigious hotel properties with Visa Signature Concierge
- Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card (subject to a $25 deductible).
- Select “Apply Now” to learn more about the product features, terms and conditions
- Rates & Fees
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Intro APR on Purchases
N/A
Intro APR on Balance Transfer
0% (12 months on balance transfers made in the first 90 days after account opening)
Regular APR
17.99% Variable
Balance Transfer Fee
3% fee applies to each transfer
Annual Fee
$95
- Earn more everywhere you go!
- 50,000 Bonus Points when you spend $3000 in the first 90 days
- Up to $799 total Travel value
- 4X Points on all Travel categories for PenFed Honors Advantage Members
- 3X Points on all Travel categories
- 1.5X Points on all other purchases
- 0% Balance Transfers Promo APR for 12 months, 3% fee applies to each transaction. Subject to credit approval. 0% introductory APR for 12 months on balance transfers made in the first 90 days after account opening. After that, the APR for the unpaid balance and any new balance transfers will be a non-variable rate of 17.99%. A 3% balance transfer fee applies to each transfer. This transaction is subject to credit approval. If you take advantage of this balance transfer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date.
- Annual Fee: $95 (waived for existing PenFed Honors Advantage Members)
- Purchase Variable APR: 17.99%
- Refer to PenFed.org for Terms/Conditions
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Intro APR on Purchases
N/A
Intro APR on Balance Transfer
0% Intro APR for 12 billing cycles on balance transfers made in the first 90 days
Regular APR
12.74% - 18.00% Variable APR
Balance Transfer Fee
None
Annual Fee
None
- Earn 10,000 bonus Rewards Points when you spend $2,000 in the first 60 days
- Earn 1 point for every $1 spent on everyday purchases
- No annual fee or balance transfer fee
- Points never expire while account is open and in good standing
- Redeem points for travel, merchandise, events and activities, charitable donations, and gift cards
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When choosing a balance transfer rewards card, you should know you don't earn rewards on the amount of a balance transfer. Besides, carrying a balance on your credit card can be precarious, as any amount you pay in fees or interest could wipe out the value of points or miles you earn.
The catch is that if you carry a balance from doing a balance transfer and do not pay off the minimum amount due each month, you may lose the card's introductory APR and grace period. The grace period is the time between the end of the credit card billing cycle and the due date of the bill (at least 21 days), when a cardholder does not have to pay interest on new purchases. The grace period only applies if you make minimum payments each month. If you don't, interest will be charged on any new spending right away, unless the new credit card to which balances are transferred has a 0% annual percentage on purchases.
So, if you do decide to apply for the card that offers balance transfers and rewards, but lacks intro APR on purchases, pay off the due balance first, and then use the card for your daily purchases to earn rewards. Below, we've picked up balance transfer cards with room to earn rebates.
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Intro APR on Purchases
0% intro APR for 15 months from account opening
Intro APR on Balance Transfer
0% intro APR for 15 months from account opening on qualifying balance transfers
Regular APR
19.99%, 24.99%, or 29.99% variable APR
Balance Transfer Fee
3% for 120 days from account opening, then up to 5%; min: $5
Annual Fee
$0
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months
- Earn unlimited 2% cash rewards on purchases
- 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 19.99%, 24.99%, or 29.99% variable APR; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5
- $0 annual fee
- No categories to track or remember and cash rewards don't expire as long as your account remains open
- Enjoy a premium collection of benefits at a selection of the world's most intriguing and prestigious hotel properties with Visa Signature Concierge
- Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card (subject to a $25 deductible).
- Select “Apply Now” to learn more about the product features, terms and conditions
- Rates & Fees
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Splitting Balance Transfer and Travel Rewards Credit Card
The best travel rewards credit cards can provide you with premium benefits and decent sign-up bonuses, while also saving you money. But in case you have exhausted the available limit on your travel rewards credit card, another go-to option is to pair the cards and apply for a balance transfer credit card. You can take advantage of the promotional 0% annual percentage rate on balance transfers to move your debt to a new card and temporarily avoid interest charges.
While the average APR on credit cards is currently over 20%, some of the best travel credit cards charge much higher regular interest rates. So, if you have an outstanding balance on your travel card at the end of your promotional interest-free period, the interest you have to pay each month can eat up all of your rewards. So, transferring your balance can be a great way to keep your rewards and earn more, since you'll have access to the full credit limit again.
Points to Keep in Mind
Most balance transfer cards offer zero interest for over a year. Some have a special financing period of up to 21 months. The longer this temporary interest-free window lasts, the more time you have to avoid costly credit card APRs. It's important to note each balance transfer card's regular APR, since your interest rate will eventually end to that rate after the intro APR offer ends.
One more thing to note is balance transfer fee. A common balance transfer fee ranges between 3 and 5 percent of the transfer amount. So, if you transfer your debt to a balance transfer card, you'll pay an extra sum in fees. There are relatively few cards on the market without balance transfer fees, but you still can find a few no-balance-transfer-fee options.
Additionally, there are some cards that offer an outstanding 0% intro APR on both balance transfers and purchases. This can help you finally manage your debt by transferring an existing balance and pay off your purchases at no interest.
Hence, don't miss out and take advantage of one of the credit cards offers from our partners above to pay less interest over time and rack up the rewards.
