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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 Slate® from Chase - which charges no fees on balance transfers - and the Citi® Diamond Preferred® Card which offers a 0% APR on balance transfers and purchases for 18 months, the longest introductory period presently being offered by any major credit card company.
How Much Can You Save with a Balance Transfer Credit Card: The amount that can be saved 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, SmartBalanceTransfers.com 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.
Study Shows Majority Of Americans Aren’t Aware of 0% APR Balance Transfer Credit Cards: Smartbalancetransfers.com recently conducted a poll using Google online surveys to measure overall awareness of balance transfer credit card offers. We found that over 60% of Americans have never heard of 0% APR promotions. This somewhat disturbing finding highlights just how lacking Americans are when it comes to credit card financial literacy.
Citi Simplicity Card Review: The Citi Simplicity provides the longest balance transfer offer available - a 0% APR for 18 months - as well as the longest 0% rate on purchases, also 18 months. In this review, I take a look at who can benefit most from the Citi Simplicity Card which, along with the Citi Diamond Preferred Card, presently offers consumers the greatest potential savings on interest.
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 $400-$500. While this card does not offer balance transfers, it is a great deal for consumers looking to cash in with a rewards card.
Chase Freedom $200 Cash Back Bonus Now Freedom $100 : Just as the longest balance transfer offers have been reduced from 24 months to 18 months, the biggest cash back rewards bonuses have also been on the decline in 2012. Chase recently reduced the sign up bonus on the Chase Freedom card from a maximum of $200 to $100. Nevertheless, this is still a good option for consumers seeking low rates as well as a cash back bonus.
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.
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0% Credit Card Offers by Company |
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Recent News from the SBT Credit Card Blog |
Cash Back Credit Card Bonuses Shrink In May but $150 Cash Back Bonuses Available:While the credit card market is replete with offers for travel rewards, many cardholders still prefer the value, convenience, and simplicity of cash back rewards. Nevertheless, April saw the expiration of a pair of limited time, cash back sign up bonus offers. Both the Freedom card from Chase and the Citi Dividend Platinum Select Visa [...] read more
The Incredibly Shrinking Credit Card Rewards Sign Up Bonus:If an observer follows a market for long enough, eventually a pattern emerges. Competitors repeatedly try to outbid each other in their efforts to acquire a scarce commodity. Ultimately, the increased offers cannot be sustained and the market collapses. This can take the form of a minor correction or it can resemble a bubble bursting. [...] read more
Using a Credit Card Rewards Bonus for a Summer Vacation:Summer is just around the corner and many are just starting to plan their vacations. Since summer is a peak travel season, it is a great time to use credit card rewards rather than pay cash. For those who need a new credit card to accumulate enough points or miles for a trip, there is [...] 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.