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3 Credit Cards Good for Balance Transfers AND Rewards

March 19, 2015
Credit Cards
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This page may be out of date

This page includes information about one or more products not currently available on NerdWallet.

  • Chase Freedom®
  • Discover it® Balance Transfer (No longer in market)

As a result, offers described on this page may be out of date. See our best credit cards page for updated offers.

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 13.99% - 23.99% 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 2020
Q1 (Jan. 1 - March 31)• Gas stations.
• Select streaming services.
• Internet, cable and phone services.
Q2 (April 1 - June 30)• Grocery stores.
• Gym memberships and fitness clubs.
• Select streaming services.
Q3 (July 1 – Sept. 30)• Amazon.com.
• Whole Foods Market.
Q4 (Oct. 1 – Dec. 31)TBD (In 2019, department stores, PayPal and 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% APR for 15 months on purchases and balance transfers, and then the ongoing APR of 16.49% - 25.24% 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 (No longer in market)

The Discover it® Balance Transfer (No longer in market) 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 2020
Q1 (Jan. 1 – March 31)• Grocery stores.
• CVS.
• Walgreens.
Q2 (April 1 – June 30)• Gas stations.
• Uber and Lyft.
• Wholesale clubs.
June only: Home Depot
Q3 (July 1 – Sept. 30)• Restaurants.
• PayPal.
Q4 (Oct. 1 – Dec. 31)• Amazon.com.
• Target.com.
• Walmart.com.

The Discover it® Balance Transfer (No longer in market) offers 0% on Purchases for 6 months and 0% on Balance Transfers for 18 months, and then the ongoing APR of 11.99% - 22.99% 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.