Credit cards should never be treated as extra income - treating them as such is a very slippery slope. The number one rule of credit cards is to pay off your balance each and every month.

If you find yourself at the bottom of that slope, looking up at a mountain of credit card debt, chances are you’re also paying a mountain of interest.

Thankfully there is a way out and freedom from that credit card debt could be closer than you think...

If you still have a decent credit score, then balance transfer credit cards could offer the help you need.

Take the MBNA Platinum Plus Mastercard. This card, the best balance transfer card out there, gives you 0% balance transfer interest for a whole 12 months! How much further ahead could you be if you had complete relief from interest for 12 months?

The other cards can’t compare to the card mentioned above because 0% interest for a full year is just too good. But, some cards do offer 1.99% interest for 10 months and leave you with pretty solid rewards once your promotional rate is up. It can pay off to do a little research so when your balance is paid in full you have a card that you will continue to use and benefit from.

Things to keep in mind:

  • Do not use your balance transfer card for purchases until the balance transfer promotion period ends otherwise you will be stuck paying full interest on those purchases.
  • When these promotions are up, interest rates go back to their usual 19.99%+ , so be sure to pay off the balance of your Balance Transfer card before the promotion ends.
  • Pay your minimum balance on time every month, otherwise you could lose your promotion and end up paying the full or even higher penalty interest rates.

There aren't many worse financial things than sitting on huge credit card debt at insane interest rates that could be costing you thousands every year…

And so, for this best credit card ranking, our focus shifts towards getting you the maximum annual interest savings. Because no rewards or perks is worth incurring debt.

Check out these balance transfer cards, ranked based on annual interest savings – then decide what features matter most to you.

Top 10 Balance Transfer Credit Cards Ranked By Interest Savings

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