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Balance transfer promotions can come in handy. This is especially the case when you owe money to a creditor that charges a high interest rate. If you’re in the market for a credit card that offers a favorable balance transfer, be sure to research a card’s terms and features before applying to make sure that you’re getting a good deal. Here are five of the industry’s best credit cards.

Discover It

discover_it_spruce_1Nerdwallet reports that the Discover It card is one of the best cards to get if you need to transfer a balance. When you first sign up for an account, the financial institution will offer you balance transfer terms of 0 percent for 18 months. Along with this generous transfer offer, the company lets you earn 5 percent back on certain types of purchases like gas and groceries. Discover will also give you 1 percent back on everything else that you buy. The company does limit the cashback offer to $1,500 a quarter.

The Discover It card does not charge annual fees, and once your account switches out of the 0 percent balance transfer promotion, your interest rate for the card will range from 11.24 percent to 23.23 percent. The card’s variable annual percentage rate, or APR, will be set according to your credit history.

Citi Simplicity Card

citi-simplicity-cardThe Citi Simplicity Card comes with a few unique features. For one, the financial institution offers the longest introductory 0 percent rate of any credit card. With this card, you’ll get a 0 percent interest rate on your balance transfer for 21 months. The company extends this rate to purchases as well.

After the 0 percent rate expires, Citi charges from 13.24 percent to 23.24 percent, which is a variable APR. In addition, you can transfer any kind of debt to the company’s 0 percent balance transfer rate. For instance, you can transfer a student loan or even a car loan. Other unique features of the Citi Simplicity Card include its lack of late fees, annual fees and penalty interest rates.

Chase Slate

slate_cardAccording to Credit Karma, the Chase Slate Card is a good option for balance transfers. With the Chase Slate Card, you’ll receive a 0 percent introductory rate as well as 0 percent on transfers that you make within the first 60 days of having the account. The 0-percentage rate will last for 15 months. After the promotion expires, the remaining balance will shift into the card’s regular APR, which varies from 13.24 percent to 23.24 percent.

You don’t have to have an excellent credit rating to be approved for this credit card. In addition, Chase will not charge you a penalty APR if you’re late on a payment. To help you get out of debt faster, Chase gives its members access to a debt payoff plan that you can customize.

Citi Double Cash Card

citi-double-cashIf rewards are as important to you as favorable balance transfer terms, then consider applying for the Citi Double Cash Card. Not only will you be eligible for the card’s 0 percent balance transfer rate for 18 months, but you will also have access to a rewards program that lets you earn 1 percent cash back on purchases. After you’ve paid for the purchases that you make, the financial institution will give you another 1 percent back.

The only drawbacks to the Citi Double Cash Card is the 3 percent fee for transferring balances and the need to have good credit to qualify.

Capital One

capital-one-secured-mastercardForbes confirms that Capital One has several credit cards that offer 0 percent for balance transfers, but the financial institution’s best one is the Platinum Prestige Card. It offers you 0 percent for purchases and a balance transfer during your first 15 months as a card member. The Prestige card does not have an annual fee, and the APR ranges from 10.9 percent to 20.9 percent after your 0 percent ends. You will pay a 3 percent fee to transfer a balance to the credit card.

Capital One gives its card members access to a Credit Tracker program, and with this, you’ll be able to keep an eye on your credit score. The Prestige card also comes with $0 Fraud Liability protection and an extended warranty program as well as niceties like price protection, travel accident insurance and car rental insurance.

Choosing the Best Balance Transfer Credit Card

Competition in the credit card industry is to your benefit. With the number of 0 percent interest rate balance transfer offers that are available today, you’ll have the opportunity to select the best credit card for you.