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Save Money with Smart 0% Balance Transfers |
At Smart Balance Transfers, you can compare a wide selection of 0% balance transfer credit cards from leading banks and utilize our balance transfer calculator and articles to help you save the most money possible when doing balance transfers online. Since 2004 our company, Credit Card Depot Inc, has helped thousands of consumers find new balance transfer credit cards. We designed this web site to provide visitors like you with the targeted information necessary to maximize the savings that can be reaped with 0% balance transfer offers.
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Recommended 0% Balance Transfer Credit Cards |
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0% Balance Transfer Insights |
From the Editor: For most consumers, the top 0% balance transfer credit cards presently available are the Citi Platinum Select Card and the Citi Diamond Card. Both of these offers provide a 0% APR on balance transfers (and purchases) that lasts 21 months while charging a low 3% balance transfer fee. Those who feel confident in their ability to repay debts quickly, however, should consider the limited time no fee balance transfer offer from Discover, which offers a 0% APR for 12 months and waives the standard 3% balance transfer fee charged by most companies.
How Much Can You Save with a Balance Transfer Credit Card: The amount that can be saved via balance transfers varies from person to person. The key reason savings vary is interest rates. People with higher interest rates clearly stand to benefit the most from a 0 balance transfer. However, monthly payments also influence how much can be saved. Paying more every month decreases your overall savings, but it is clearly the best thing to do.
To provide a sense of how much money can be saved with a 0% balance transfer, here are three examples. A person with $5,000 of credit card debt and a 12% interest rate who makes a $150 monthly payment can save $488 on interest with a 0% balance transfer for 18 months. With the same payment, a person with a 15% interest rate can save $695. Lastly, someone with a 20% rate can save $1,064. These savings take balance transfer fees into consideration and illustrate why balance transfer credit cards are an effective way to save money and get out of debt faster. (If you're interested, you can see the math here).
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Balance Transfer Credit Card Articles |
Balance Transfers 101: Covers the basics of 0 balance transfers. This article is designed to help first time users of balance transfer credit cards understand how these money saving transactions work as well as how to maximize your interest savings.
0% Balance Transfer Dos and Don'ts: Even though 0% APR balance transfer offers have been getting longer, many companies still want to avoid taking in new customers for balance transfers. Here are some tips to help you avoid bad balance transfer mistakes and get the best deal.
How Many Balance Transfer Credit Cards Do I Need?: If you are looking to transfer more than $3,000 to a balance transfer credit card, you may need more than one card to get a high enough credit limit. However, because most credit card companies do not provide you with your exact long term interest rate when you apply (and others may grant you 0% rates for less than they advertise), applying for two balance transfer credit cards is the best way to make sure you not only get a high enough credit limit, but the best overall deal.
The 10 Best Balance Transfer Credit Cards in 2012: Every month, Smart Balance Transfers evaluates and ranks the top 10 balance transfer credit cards available. Our rankings aim to help consumers get a better understanding of the benefits and drawbacks of leading balance transfer offers.
Chase Slate 0% APR No Fee Balance Transfer Credit Card Offer: For only the second time in the past two years, a major credit card company is offering a 0% APR no fee balance transfer offer. The limited time Chase Slate promotion offers a 0% APR for up to 12 months on balance transfers and purchases and waives the standard 3% balance transfer fee charged by most banks. However, this credit card has a significantly shorter 0% introductory period than competing cards, so long term savings should be weighed against up front transaction fee savings.
Discover 0% APR No Fee Balance Transfer Credit Card Promotion: As they did in 2011, Discover has released a limited time, 0% APR no fee balance transfer offer at the start of 2012. This short term promotion has no set end date, but will likely only be available until the end of February. At present, it offers the best no fee balance transfer terms of any card on the market..
Chase Freedom Rewards Cards: Freedom $200 Cash Back Vs. Freedom $100: Chase is presently offering multiple versions of the Chase Freedom card. The Chase Freedom $200 offers the largest sign-up bonus, but it charges a higher long term interest rate and does not offer a 0% rate on balance transfers. The Chase Freedom $100 card, on the other hand, offers a nice sign up bonus as well as a 0% APR on balance transfers for 12 months and a 0% APR on purchases for 6 months, making this card a better option for consumers with credit card debt.
Citi Platinum Select Mastercard Review: The Citi Platinum Select MasterCard provides the longest balance transfer offer available - a 0% APR for 21 months. In this review, I take a look at who can benefit most from the Platinum Select Mastercard which, along with the Citi Diamond Preferred Card, offers consumers the greatest potential savings on interest.
How to do a 0 APR Balance Transfer: If you are new to balance transfers, this article shows you how to do 0% APR balance transfers the right way so you can maximize your savings on interest, avoid penalties and fees, and find the best possible balance transfer offers for your situation.
Chase Sapphire Card $500 Sign Up Bonus: While companies like Citibank and Discover are battling it out to win over customers seeking value from a new credit card, Chase has been raising the stakes in the rewards arena. They recently launched a promotion for the Chase Sapphire card that provides applicants with a sign up bonus worth between $500-$625. While this card does not offer balance transfers, it is a great deal for consumers looking to cash in with a rewards card.
Balance Transfer Fees 101: In the past two years, the number of credit cards offering no fee balance transfers had dwindled. Most major credit card companies no longer offer no fee balance transfers, let alone no fee balance transfers with 0% interest rates for 1 year. So, is paying a balance transfer fee worthwhile? (Hint: IT IS!). Learn more about balance transfer fees.
More Balance Transfer Articles
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0% APR Balance Transfer Credit Card Offers |
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Recent News from the SBT Credit Card Blog |
Credit Card Use As An Economic Indicator:In a democracy with a decentralized economy, it can be very difficult for economists to determine the exact nature of consumer spending trends. One method that has become increasingly popular is the analysis of data reported by credit card processors. This data can be used to determine consumer spending in various sectors such as food, [...] read more
Review: The American Airlines AAdvantage Credit Card from Citi:When most people consider a travel rewards credit card they immediately think of one that earns frequent flier miles. Their next thought is often about the difficulty they will have booking award flights at the lowest mileage levels. Sadly, most airlines have made it almost impossible to find multiple award seats to popular destinations anywhere [...] read more
3 Types of Cash Back Credit Cards — Which is Best?:Those who pay their credit card balances on time and in full each month should be using a rewards credit card. Although many cardholders enjoy their rewards in the form of loyalty points such as frequent flier miles, cash back remains the most popular type of rewards card. Unfortunately, while cash back rewards can seem [...] read more
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How to Avoid a 0% APR Balance Transfer Mistake |
A 0% APR balance transfer provides a great opportunity to save money on interest. However, there are three pitfalls one must avoid to insure a 0% balance transfer doesn't become a balance transfer mistake.
- Continue to make payments on your old credit cards until your new credit card has completed the balance transfer: It can take anywhere from a few days to a few weeks for a balance transfer to clear with your old credit card company. Until it has, don't neglect bills from your old credit card.
- Pay your new balance transfer bill on time: Obviously it is important to pay one's credit card bills on time. However, with a 0% introductory rate it is even more so. Why? Because the fine print of many balance transfer offers state that a late payment can void the 0% APR. In other words, if you miss a payment, you can lose your 0% balance transfer rate.
- Don't run up a bill on your old credit card and waste money paying interest on new purchases: Getting a credit card that offers a 0% APR on balance transfers and purchases is a good way to avoid this pitfall.
If you avoid these three pitfalls, you are prepared to maximize the savings a 0% balance transfer credit card provides.
*Important Disclaimer: See credit card applications for complete terms and conditions. While Smart Balance Transfers makes reasonable efforts to maintain accurate information, all credit card information is presented without warranty. When you click an "Apply" button, you can review the credit card terms and conditions on the issuing company's web site.