One-time balance transfer, what's the best choice?

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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One-time balance transfer, what's the best choice?

Postby Kimosabi » Thu Feb 09, 2012 4:02 pm

So basically I have a CapOne Platinum card that I took out about 3.5 years ago. I took the card out in dire times and it has been close to or near its limit ($1000) for the past 3 years where I have made on-time minimum payments. This is my only card. The APR is around 22% at this point and I have to pay a $5 monthly fee that they added on after the first year (bull****). Anyways my credit isn't terrible but I don't have a serious credit history either.....if these means anything I recently switched to Verizon wireless and got a brand new Galaxy Nexus and phone plan and no deposit was necessary after a credit check.

I have done a bit of research on the balance transfer cards, but according to this website, for the most part "excellent credit" is needed....which I'm pretty sure I don't have. I don't want to just go around applying for all the cards on the list obviously.

Can anyone recommend a card that has 0% balance transfer rate and possibly 0% APR on purchases for 6 months or so that may be easier to qualify for? I won't be doing any other balance transfers, so this is really just necessary for this one time.


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Postby CCG » Sun Feb 12, 2012 1:36 am

The easiest BT offer to qualify for right now will probably be the Chase Slate, as they publicly advertise it for "average" credit, versus their other cards which are labeled "excellent" credit. You can check out my review here: Chase Slate

Good Luck!


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Postby DavidNY » Sun Feb 12, 2012 11:20 am

Citibank has three cards with 18 month, 0% BT offers but there may be an initial fee.

But consider this: A Galaxy Nexus costs about $300 on a Verizon contract, which costs about $100/month. There's $400 you could have used to pay down this debt.

I would suggest evaluating your spending, eliminating the lattes, and paying off the $1000 rather than shifting it to another card.

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