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3 Credit Cards Good for Balance Transfers AND Rewards

March 19, 2015
Credit Cards
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NerdWallet’s database of more than 1,200 cards can point you to the best credit card options for your preferences, whether you’re interested in a 0% APR, a balance transfer or a rewards card. But what if you want all three? Good news: We’ve found three cards that offer the triple threat of a balance transfer option, cash rewards and a long 0% introductory APR.

Citi® Double Cash Card – 18 month BT offer

The Citi® Double Cash Card – 18 month BT offer offers one of the most innovative rewards programs in the industry — you’ll receive 1% cash back when you make a purchase and another 1% when you pay it off. Rewards can be redeemed starting at $25 for cash, statement credit or gift card.

The Citi® Double Cash Card – 18 month BT offer has an introductory APR of 0% on Balance Transfers for 18 months, and then the ongoing APR of 15.74% - 25.74% Variable APR. The balance transfer fee is 3%. The card has an annual fee of $0 and foreign transaction fees of 3%.

The Citi® Double Cash Card – 18 month BT offer is best for those whose spending doesn’t line up with the bonus categories of the Chase Freedom® or Discover it® Cash Back. The potential cash back — provided you pay off your balance — is very high for the industry.

Chase Freedom®

The Chase Freedom® offers 5% cash back rewards on quarterly rotating categories and 1% back on everything else. The latest bonus categories are as follows:

Chase Freedom® bonus rewards categories for 2019
Q1 (Jan. 1 - March 31)• Gas stations.
• Tolls.
• Drugstores.
Q2 (April 1 - June 30)• Home improvement stores.
• Grocery stores.
Q3 (July 1 – Sept. 30)• Gas stations.
• Select streaming services.
Q4 (Oct. 1 – Dec. 31)• Department stores.
• PayPal.
• Chase Pay.

There’s also a nice signup bonus: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.

The Chase Freedom® offers an introductory APR: 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 16.74% - 25.49% Variable APR. For the first 60 days your account is open, you get an introductory balance transfer fee of 3% (minimum $5); after 60 days, the fee rises to 5% (minimum $5). The annual fee is $0.

The Chase Freedom® is best for cardholders whose spending more or less lines up with the 5% bonus categories.

Discover it® Balance Transfer

The Discover it® Balance Transfer offers 5% cash back on quarterly rotating categories on up to $1,500 in bonus category spending per quarter (after activation) and 1% back on everything else. Here are the bonus categories:

Discover bonus rewards categories for 2019
Q1 (Jan. 1 – March 31)• Grocery stores
Q2 (April 1 – June 30)• Gas stations.
• Uber and Lyft.
Q3 (July 1 – Sept. 30)• Restaurants.
• PayPal.
Q4 (Oct. 1 – Dec. 31)• Amazon.com.
• Target (in store and online).
• Walmart.com.

The Discover it® Balance Transfer offers 0% on Purchases for 6 months and 0% on Balance Transfers for 18 months, and then the ongoing APR of 13.74% - 24.74% Variable APR. It charges a 3% intro balance transfer fee (up to 5% on future balance transfers — see terms), and it has an annual fee of $0. It’s the best for cardholders whose spending lines up with the 5% bonus categories.