Swamped in credit card debt and high interest rates? Make 2016 the year you consolidate your debt and catch up! Transferring the balance of your current credit card to a new one is fast and easy. Once you do, you can enjoy a lower interest rate or even 0% APR on your new card. This gives you a much-needed break and a chance to pay off your debt! Looking for the best balance transfer promotions for 2016? Here are the top recommended cards:

Top 3 Balance Transfer Credit Cards Banner of 2016


Citi Simplicity Card

While a lot of cards will only give you 0% APR on your first year after you transfer over, the Citi Simplicity Card will give you 0% interest for 21 months. That is a nice long time period to catch up on your debts! After that, the APR ranges from 13.24%-23.24%. There is no annual fee for this card and no late fees. You can move any type of debt to the card, even student loan debt.

Any drawbacks? There are no cash-back rewards for using the Citi Simplicity Cards, and you do need to have top-shelf credit to qualify. There is a one-time 3% fee for the balance transfer as well.

Chase Slate

You get 0% APR on this card for the first 15 months, after which your APR will vary from 13.24%-23.24%. While this is not as long a period as the Citi Simplicity Card gives you, it is still more than a year. Unlike the Citi Simplicity Card, there is no transfer fee. You also do not need to have stellar credit to qualify for this card, though you do need average credit.

What are the drawbacks? While Citi Simplicity allows you to transfer any type of debt you want, you can only transfer other credit card debt to Chase Slate. There is an upper limit of $15,000. There are also no rewards.

Discover it®

This card only gives you 0% APR for the first 6 months, after which the APR ranges from 11.24%-23.24%. You do get an extended 0% APR period of 18 months for any balance transfers. There is no annual fee, and you can transfer most types of debt to this card, as you can with the Citi Simplicity card. The balance transfer fee is the same—you will pay 3%. You must have good credit to qualify.

Wondering why you would choose Discover it® over Citi Simplicity, which has a much longer APR, or Chase Slate, which also has a longer APR and no transfer fee? The main advantage is that you get 5% cash back rewards on up to $1,500 worth of purchases every quarter. After that you still get 1% cash back on all additional purchases. As a special promotion for your first year, you get double cash back rewards.

Which card is best? It all depends on your needs. If you make a lot of purchases, Discover it® may save you money—it is also the best option for international travelers. If you cannot swing a balance transfer fee, consider Chase Slate. If what you need most is 0% APR for the longest possible timeframe, then Citi Simplicity may be your best bet.