Credit Card Forum
  • 0% For Transfers & Purchases

    zero percent APRLet’s be honest… standard credit card interest rates can be outrageous. This is why transfer offers are definitely the way to go. What are the best balance transfer credit cards? Here’s what you need to know:
    • Which card(s) will you be transferring from? Most issuers won’t allow you to transfer balances to another one of their credit cards. For example, you cannot transfer your balance from one Citi card to another Citi card. So make sure you choose a different bank than your current card.
    • How long is the offer? Every card on the market nowadays usually charges a transfer fee of 3-5%. So to get the most bang for your buck, you need to get the absolute longest 0% APR offers.
    The Best Credit Cards For Balance Transfers 2013 This sponsored list is constantly updated with the best offers.

    BEST OFFER: Discover it®
    Not only is this the longest 0% offer for balance transfers, but the card also has an awesome rewards program so even after you pay it off you will actually want to keep it around. You'll be happy to hear that Discover uses 100% U.S. based call centers so their customer service is top notch. There's no annual fee.
    Discover it card
    • 0% intro APR* for 18 months on balance transfers and 6 months for purchases. Then the variable APR applies which is currently 10.99% to 22.99% *Click apply for terms & conditions
    • 5% cash back on up to $1,500 in purchases at home improvement stores now through June 30th with sign-up. 1% cash back on all other purchases*.
    • No late fees for first late payment, no APR hikes for paying late, and no pay-by-phone fees.


    BankAmericard Cash Rewards™ Credit Card
    Bank of America Cash RewardsDo you want an offer that has it all? With this no annual fee card you get a 0% intro APR offer, a generous rewards program, and even a $100 cash rewards bonus after you make $500 in purchases within the first 90 days. You get a 0% introductory APR for 12 billing cycles on purchases as well as any balance transfer you make within the first 60 days. After that the regular APR is 12.99% to 22.99% Variable*. Even though this may not be as long as some of the other 0% intro APR offers, remember with this one have the opportunity earn a $100 cash rewards bonus, too.

    Last but not least, the rewards program lets you earn 3% on gas and 2% on groceries for the first $1,500 in combined spending each quarter on gas and grocery purchases. All other purchases earn 1%. Best of all, if you have a Bank of America checking or savings account and redeem your rewards into it, you will receive a 10% customer bonus (for example, $100 in rewards would become $110).



    BankAmericard® Better Balance Rewards™ Credit Card
    Bank of America Better Balance RewardsThis is a very unique card because it rewards you for paying down debt in a responsible manner. Simply pay on time and more than the minimum every month and at the end of the quarter, you will receive $25 in cash rewards. That means over the course of a year you could earn $100.

    And if you have another qualifying account, you will also receive an extra $5 bonus in each quarter, in total that's up to $120 in cash rewards you could earn every year.

    What’s really nice about this rewards program is that it can help motivate you to pay down debt, instead of motivating you to spend more! If you apply right now you can get a nice introductory APR offer: 0% for 12 billing cycles on purchases and for any balance transfers you make within the first 60 days. After, the regular APR is 11.99% - 21.99% Variable*. There’s no annual fee.



    Slate® from Chase
    Right now this is the only promotion out there that isn't charging a balance transfer fee. Keep in mind that the 0% is slightly shorter and the card doesn't have a rewards program. However based on reviews/feedback, Slate is the easiest Chase card to get approved for. After the zero interest promotion ends you will have a variable APR of 11.99%, 16.99%, or 21.99%. There's no annual fee.
    Chase Slate
    • 0% for a full 15 months on balance transfers*
    • 0% for a full 15 months on purchases*
    • No fee for balance transfers (which are made during the first 60 days)*
    • Click below to apply online or call 1-888-249-6096


    Capital One® Platinum Prestige
    This is the best balance transfer credit card from Capital One®. It also gives you an intro 0% APR on purchases, too. The MasterCard® Platinum Benefits include 24-hour travel assistance services, $100,000 travel accident insurance, auto rental insurance, and extended warranty coverage on eligible purchases. After the intro period, your APR will be 10.9-18.9% (V) based on creditworthiness.
    Capital One Platinum Prestige
    • 0% intro APR on balance transfers until September 2014
    • 0% intro APR on purchases until September 2014
    • MasterCard Platinum benefits
    • No annual fee


    Blue Cash Everyday® Card from American Express
    American Express stopped doing balance transfer credit cards during the "Great Recession" and they still haven't brought them back yet. However with this deal you can get a nice 0% offer on purchases and earn a $100 bonus for making $1,000 in purchases within the first 3 months. The rewards are ridiculously lucrative and there's no annual fee.
    Amex Blue Cash
    • 0% intro for 12 months on all your purchases. The regular APR is 12.99% - 21.99% (Variable).
    • Earn Cash Back: 3% at US supermarkets, up to $6,000 per year in purchases, 2% at US gas stations & select US dept stores, 1% on other purchases. Terms and limitations apply.
    • Cash back is in the form of Reward Dollars that can be redeemed as a statement credit.
    • Terms and restrictions apply.


    Citi Simplicity® Card
    Like the card above, this one also comes with a 18 month promotion for balance transfers. However it does not come with a rewards program. What's really unique about this credit card is that there are no late fees or penalty APRs.
    Citi Simplicity
    • 0% intro APR for 18 months on balance transfers and purchases. After that, the variable APR will be 12.99% - 21.99% based on your creditworthiness.
    • Balance transfer fee of either $5 or 3% of the amount transferred, whichever is greater.
    • No late fees, no penalty rate, and no annual fee.


    Chase Freedom® Visa
    It's rare to find a balance transfer deal that also gives you a cash bonus, but that's exactly what this 3-part promotion does. You will receive 0% on both balance transfers and purchases. But to sweeten the pot, Chase is also tossing in a special $100 bonus if you spend at least $500 within the first 3 months. This 1 offer is giving you 3 incentives at the same time.
    Chase Freedom Visa
    • 0% intro APR for 15 months on balance transfers and purchases. After that, the regular interest rate is 13.99%-22.99% (V).
    • $100.00 bonus for spending $500 within the first 3 months
    • 5% cash back in categories + 1% cash back on everything else



    How to get the most out of your balance transfer offer:

    Avoid late payments: Thankfully, the credit card reform that went into effect back in 2010 protects consumers against rate hikes during the first year, except under some exceptions (like making a payment 60 days late). So just make sure you always pay at least the minimum on-time. Setting up auto payments are an easy way to do this.

    It’s now OK to make purchases on the card: Before the reform, payments were applied to balances with lower interest rates first (i.e. 0% balance transfer offers). Now, payments are automatically applied to the higher rate balances first (like standard APR purchases) after the minimum payment amount is paid. That means it now makes sense to use the card for spending, but if you want avoid interest, make sure to pay the total amount of new charges during each cycle. The ability to do this is beneficial if the credit card offers rewards you want to take advantage of.

    Try and choose a card you will want to keep. Of course the purpose is to save money on interest, but it doesn’t hurt to consider the benefits. If there are two balance transfer deals for the same duration, you might as well go with the one that offers the best rewards and benefits... so you will actually still want to keep it around after the debt is paid off! Another reason to do this is because part of your credit score is based on the average age of your accounts - the older the better. This is why it's best to avoid opening and closing accounts on a frequent basis.

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