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Can You Earn Rewards With Balance Transfer Credit Cards?
July 1, 2025
If you're juggling credit card debt while trying to maximize rewards, you might be wondering if you can earn points or cash back on balance transfers. This comprehensive guide breaks down everything you need to know about combining balance transfers with rewards programs, helping you make an informed decision for your financial health.
What Are Balance Transfer Credit Cards?
Balance transfer credit cards are specialized financial tools designed primarily for debt consolidation. These cards typically offer a promotional interest rate, often 0% APR, for an introductory period ranging from 12 to 21 months. During this promotional period, you can transfer high-interest debt from other credit cards and pay it off without accruing additional interest charges.
Balance Transfer Credit Cards: Pros & Cons
Pros:
- Save money with 0% APR introductory offers on balance transfers
- Consolidate multiple credit card debts into one payment
- Some cards offer rewards on new purchases
- Potential to improve credit score through debt consolidation
- Fixed grace period for paying off transferred balances
Cons:
- Balance transfer fees typically range from 3% to 5%
- Cannot earn rewards on transferred balances
- Higher credit score usually required for approval
- Interest rates may increase significantly after the promotional period
- Some cards have restrictions on eligible purchases for rewards
Who Should Consider a Balance Transfer Credit Card?
A balance transfer credit card is ideal for:
- Individuals carrying high-interest credit card debt
- Those with a good to excellent credit score (typically 670 or higher)
- People who can pay off their transferred balance during the promotional period
- Cardholders looking to consolidate multiple credit card payments
- Those who want to improve their financial health through debt management
Best Balance Transfer Cards With Reward Programs
Let's explore some top options that combine balance transfer benefits with rewards:
- 0% APR introductory offer for 18 months on balance transfers
- Earn 2% total cash back: 1% when you make purchases, 1% when you pay your bill
- No annual fee
- Variable APR of 19.24% to 29.24% after the promotional period
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Wells Fargo Active Cash® Card
- 0% intro APR for 15 months on qualifying balance transfers
- Flat 2% cash rewards on purchases
- $200 cash rewards bonus after spending $500 in first 3 months
- No annual fee
- Variable APR of 20.24% to 29.99% after intro period
[[ SINGLE_CARD * {"id": "2894", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Cash Back Seekers", "headerHint": "0 Annual Fee"} ]]
Bank of America® Customized Cash Rewards Credit Card
- 0% intro APR for 15 billing cycles on balance transfers and purchases
- Choose your 3% cash back category
- 2% at grocery stores and wholesale clubs
- 1% on all other purchases
- No annual fee
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Smart Strategies for Combining Rewards and Balance Transfers
When using a balance transfer credit card with a rewards program, consider these expert tips:
- Focus on Debt First: Prioritize paying off your transferred balance during the promotional period before focusing on earning rewards.
- Separate Your Strategy: Consider using two different cards - one for the balance transfer and another for earning rewards on new purchases.
- Watch for Terms and Conditions: Pay attention to card issuer's policies regarding rewards eligibility and balance transfer fees.
- Calculate the True Cost: Factor in balance transfer fees when determining if the rewards program justifies the cost.
Consider Using Kudos to Maximize Your Rewards
While managing your balance transfer, you can still maximize rewards on your everyday purchases using Kudos, a free AI-powered browser extension. Kudos automatically recommends the best credit card to use for each purchase, ensuring you earn the most rewards possible. Currently, they're offering $20 back after your first eligible purchase — just sign-up for free with code "GET20" and make a purchase at a Boost merchant.
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Our Expert Takeaway
Balance transfer credit cards can be powerful tools for debt consolidation, and while you typically won't earn rewards on the transferred balance itself, some cards offer valuable rewards programs for new purchases. The key is finding the right balance between debt management and rewards earning, always prioritizing the elimination of high-interest debt first.
Balance Transfer Credit Card FAQ
Can you earn rewards points on balance transfers?
No, balance transfers typically don't earn rewards points, miles, or cash back.
How long do 0% APR promotions usually last?
Most promotional periods range from 12 to 21 months, depending on the card issuer.
What credit score do you need for a balance transfer card?
Most balance transfer cards require a good to excellent credit score (670 or higher).
Is there a fee for balance transfers?
Yes, most cards charge a balance transfer fee of 3% to 5% of the transferred amount.
Can you do multiple balance transfers to the same card?
Yes, but they must be completed within the card issuer's specified timeframe and are subject to your credit limit.
Should you close your old credit card after a balance transfer?
Generally no, as this could negatively impact your credit score by reducing your available credit and credit history length.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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