Best Chase Balance Transfer Credit Cards
Carrying credit card balances can force you deep into debt before you know it, especially if you’re only making minimum payments. Transferring the balances to a 0% APR credit card can save you a significant amount of money in interest and get the debt paid off faster.
Chase has three credit cards that offer 0% introductory financing on balance transfers and a $0 annual fee. Each includes additional benefits, such as free access to your weekly credit score and tools to help you stay on top of your credit.
3 Best Balance Transfer Credit Cards From Chase
Keep reading to learn more about the best Chase balance-transfer credit cards and how they can help you wipe out your debt as you earn cash back and other rewards.
Best for: Bonus category cash back
The Chase Freedom Flex card offers a 0% introductory APR on balance transfers and purchases for 15 months, followed by a APR, to give you plenty of time to whittle down your credit card debt, if not pay it off entirely.
In the meantime, you’ll earn 5% cash back on up to $1,500 in purchases in whatever bonus spending category you activate each quarter. Once you’ve reached the $1,500 limit, rewards automatically revert to 1% for subsequent purchases.
Pros
- Excellent introductory offer for balance transfers and purchases
- Flexible top-tier bonus categories that change quarterly
- 5% cash-back grocery store offer on up to $12,000 the first year
- Generous, easy-to-earn new cardmember bonus
- annual fee
Cons
- Balance transfer fee of $5 or 3%, whichever is greater, during introductory period
- Must activate bonus category each quarter to earn 5% reward
- 3% foreign transaction fee
Who would benefit from this card? Customers who want the flexibility of rotating 5% cash back reward categories.
Best for: Everyday spending
Rather than provide limited rewards on rotating bonus categories and merchants like the Freedom Flex card, the Chase Freedom Unlimited card increases the lowest reward to 1.5% on all purchases that don’t qualify for 3% or 5% cash back. Whether that is likely to earn you more cash back in the long term depends on how much you spend and what you buy, but with this card, there’s no guessing — you always know what reward you’re earning.
Plus, you get the same 0% introductory APR on balance transfers and purchases for 15 months, followed by a APR.
Pros
- Excellent introductory offer on balance transfers and purchases
- Predictable cash-back rewards on purchases
- 5% cash back on up to $12,000 worth of grocery store purchases the first year
- Generous, easy-to-earn new-cardmember bonus
- annual fee
Cons
- Balance transfer fee of $5 or 3%, whichever is greater, during intro period
- 3% foreign transaction fee
Who would benefit from this card? Customers who want to maximize earnings on everyday spending.
Chase
Best for: Lower APR
The Slate Edge balance-transfer card comes with a 0% introductory rate on balance transfers and purchases for 18 months, followed by a APR.
This card doesn’t offer cash back on purchases, but it gives cardholders the opportunity to reduce the APR up to 2% each year. And you can avoid incurring interest charges on new debt with the My Chase Plan. The plan lets you make equal monthly payments on purchases of $100 or more for a fixed monthly fee. Additionally, when you pay on time and spend $500 in your first six months as a cardholder, you’ll receive an automatic review for a higher credit limit.
Pros
- Excellent introductory offer on purchases and balance transfers
- Opportunity to reduce APR
- Automatic credit-limit review for eligible cardmembers
- Eligible for My Chase Plan
- $0 annual fee
Cons
- No cash-back rewards or cash welcome bonus
- $5 or 3% balance transfer fee, whichever is greater, during the intro period
- 3% foreign transaction fee
Who would benefit from this card? Customers whose primary use for the card is consolidating higher interest credit card debt.
Selecting the Best Chase Balance Transfer Credit Card for You
Which of the three Chase balance-transfer cards is right for you depends on how much debt you’re transferring and how you plan to use the card outside of paying off those balances.
Both Freedom cards give you a generous introductory period on balance transfers and purchases, plus amazing cash-back rewards, but you’ll pay at least APR after the promotional period ends. The Slate Edge card gives you a longer introductory period to pay off the transferred balances and purchases. However, a 2% rate reduction after the promotional APR ends could make carrying any unpaid balance a little less costly.
FAQ
Here are the answers to some of the most frequently asked questions regarding Chase credit cards and balance transfers.- Do balance transfers hurt your credit?
- It depends. If you move your existing balances to other existing balance transfer cards, your credit score will most likely not be affected. If you don't add to your debt while working to pay off the balances you transferred, your credit score might improve. However, if you open new credit accounts and continue to transfer your balances as you accumulate them, your credit score might drop.
- How do you transfer credit card balances?
- If you're applying for a new balance transfer credit card, it might be possible to request the balance transfer within the application. If not, you'll need to contact the card issuer once your application is approved and request the balance transfer. Be prepared to give the information, such as name of the credit card issuer, the account number and the amount you'd like to transfer. The transfer could take up to three weeks.
Cynthia Measom contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Jan. 19, 2023.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
Methodology: GOBankingRates identified the best balance transfer credit cards by analyzing all banks with over $100 billion in total assets, as well as the three largest Credit Unions along the following factors: (1) length of 0% intro APR for balance transfers; (2) length of 0% APR for purchases; (3) balance transfer rate; (4) balance transfer fees; (5) foreign transfer fees; (6) annual fees; (7) purchase APR; and (8) any perks associated with a card that might extend its value past the promotional APR period. All fees and rates are subject to change at the credit card issuers’ discretion. Some offers might not be available on the credit card issuers’ websites, depending on how you access the web page. Data was sourced from the financial institution’s website or promotional material on Jan. 19, 2023. Please verify terms and conditions before opening an account.
The information related to Chase Slate Edge, Chase Freedom Unlimited, and Chase Freedom Flex was collected by GOBankingRates and has not been reviewed or provided by the issuer of these cards. Product details may vary. Please see issuer website for current information. GOBankingRates does not receive commission for these products.
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