The Discover it^® Balance Transfer is ideal for consumers who need a balance transfer card with a long 0% intro APR period and a cash back program that offers ongoing value once the transferred balance is paid off.

Many of the top balance transfer cards available don’t earn rewards, so once you’ve used them to pay down debt from another card, there’s no reason to keep them in your wallet. By contrast, the Discover it^® Balance Transfer comes with a top-of-the-line cash back program if you’re willing to deal with rotating rewards categories.

Plus, the Discover it^® Balance Transfer charges a $0 annual fee.

• Lengthy 0% intro APR on balance transfers

  Enjoy a 0% Intro APR for 18 months on balance transfers. After, a 13.49% - 24.49% Variable APR applies. If you’re looking to move other high-interest debt from a non-Discover credit card and get some breathing room without interest charges accruing, this card gives you a year and a half to do so.

• 5% cash back program

  Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically. Note that there’s a $1,500 spending cap at the elevated rate each quarter, after which you’ll earn just 1% on all purchases. That means a maximum of $75 in cash back can be earned each quarter at the higher rate before your rewards rate drops.

  Also be aware you must activate the new categories each quarter or you’ll earn just 1% back. However, Discover typically sends out activation reminders before each quarter rolls around.

  As long as your spending tends to line up with the rotating categories, earning 5% is a generous cash back rate. Examples of rewards categories in 2022 include gas stations and Target, restaurants and PayPal, and more. Plus, Discover makes things easy by publishing the cash back categories for the whole year at once, so cardholders can plan out their spending. By contrast, competing credit card issuer Chase publishes each category just prior to the new quarter.

• Unique sign-up bonus

  This card offers a unique sign-up bonus for new cardmembers: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.

  However, we typically recommend avoiding new spending on a balance transfer credit card until you’ve paid off your transferred debt in full. That way you don’t have to worry about your balance creeping back up while you’re trying to get out of debt. Once you’ve paid in full, you can begin using the Discover it^® Balance Transfer for everyday expenses.

• No annual fee or foreign transaction fee

  The Discover it^® Balance Transfer charges a $0 annual fee and a foreign transaction fee of none. But know if you’re planning a trip abroad, Discover is not as widely accepted in some countries as Mastercard and Visa credit cards.

• You'll have to pay a balance transfer fee

  This card charges a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*. That’s a reasonable balance transfer fee, especially if you take advantage of the intro fee amount.

• Subpar intro APR period on purchases

  While the intro APR period on balance transfers is lengthy, the period on new purchases is pretty short. You’ll get a 0% Intro APR for 6 months, after which a 13.49% - 24.49% Variable APR applies. There are plenty of cards with longer intro APR periods on purchases.

• Cash back requires activation and has a cap

  Though this card offers an excellent cash back rate, you must activate a new category each quarter. This can be done online, and Discover will generally send out reminders before each new quarter comes up. But if you prefer not to have to actively manage your rewards, that might be a drawback.

  The Discover it^® Balance Transfer also comes with a spending cap you should be aware of. Once you spend $1,500 in the 5% category, you’ll earn just 1% until the next quarter. That means you can earn a maximum of $75 in cash back each quarter — $300 each year — at the higher rate.

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Wells Fargo Reflect® Card

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Rates & Fees

Wells Fargo Reflect® Card

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Intro Purchase APR 0% intro APR up to 21 months from account opening

Regular Purchase APR 15.24% - 27.24% variable APR

Annual Fee $0

Rewards Rate None

Highlights

• 0% intro APR for 18 months from account opening on purchases and qualifying balance transfers. Intro APR extension of up to 3 months with on-time minimum payments during the intro and extension periods. 15.24% to 27.24% variable APR thereafter; 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
• Get up to $600 of cell phone protection when you pay your monthly cell phone bill with your eligible Wells Fargo card (subject to a $25 deductible).
• An easy way to earn cash back while you shop, dine or enjoy an experience simply by using your Wells Fargo credit card. Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants.
• Select “Apply Now” to learn more about the product features, terms and conditions

Typical Credit Needed

660 850

Show Detailsfor Citi Double Cash Card

If you need even more time to pay off your transferred debt, the Wells Fargo Reflect® Card can help. Cardholders get a 0% intro APR up to 21 months from account opening on qualifying balance transfers, after which a 15.24% - 27.24% variable APR applies.

Plus, if you need time to pay off a big purchase, the Wells Fargo Reflect® Card also offers a 0% intro APR up to 21 months from account opening on purchases. After, a 15.24% - 27.24% variable APR applies.

Cardholders initially get 18 months of 0% intro APR, and by making on-time minimum payments, they can earn an extension of up to three additional months.

The Wells Fargo Reflect® Card charges a $0 annual fee, but beware the 3% foreign transaction fee.

Where the Discover it^® Balance Transfer stands out is that it offers a cash back program, giving it value after the transferred debt is paid off, while the Wells Fargo Reflect® Card does not have a rewards program.

If you’re looking for a balance transfer credit card offering well over a year of no interest on transferred debt, as well as a cash back program to offer ongoing value, the Discover it^® Balance Transfer is an excellent choice.

However, if you think you’ll need even longer to pay off transferred debt, consider the Wells Fargo Reflect® Card. Plus, the Wells Fargo Reflect® Card also offers a much better intro APR deal on new purchases.