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0% APR Balance Transfer Credit Cards |
In this section, you will find 0% APR balance transfer credit card offers. Despite the middling economy, a number of credit card companies continue to offer generous 0% APR balance transfer deals. Some companies have straightforward offers that last a full 18 months. Others advertise 0% APR balance transfers that can last up to a certain number of months, but only grant the longest advertised rates to consumers with 800+ credit scores. Be sure to read the fine print so you can avoid these less than ideal balance transfer offers.
Transferring balances to a credit card that offers a 0% APR on balance transfers for 18 months or more can provide substantial savings. If you have $5,000 in credit card debt and an interest rate of 15%, an 18 month balance transfer could save you $700 in interest. Using the money you save, it is possible to reduce credit card debt by close to 50% during the course of your 0% APR balance transfer. This savings potential increases with longer balance transfers.
Below you can compare the details of leading 0% APR balance transfer credit cards. Once you’ve found the right card, click apply to access the online application and start saving money on interest.
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Top 0% APR Balance Transfer Credit Card Offers |
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Choosing a 0% APR Balance Transfer Credit Card |
From the Editor: Credit card companies that advertise 0% APR balance transfers for “up to” a certain number of months may actually approve your application, but only grant you a 0% APR for as little as 6 months. The length of the 0% APR period with these offers is determined when your application is reviewed. In order to avoid rate shock, I recommend the Citi Platinum Mastercard, which advertise and delivers the longest 0% APR balance transfer offer presently available to all approved applicants.
Consumers who need a 0% APR balance transfer credit card but anticipate being able to repay outstanding balances in full within one year to fifteen months will likely find that the limited time no fee 0% balance transfer offer from Discover will provide up front fee savings in addition to what can be saved with a 0% interest rate.
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Additional 0% APR Balance Transfer Credit Cards |
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0% APR Balance Transfer Tips |
Balance Transfer Tip 1: When you apply for a 0% APR balance transfer online, some companies will give you the option of transferring balances with your application. Don’t do it. Apply online, then wait for your credit card to arrive in the mail.
The key reason to wait until your card arrives before doing balance transfers is that some companies advertise a 0% APR on balance transfers for up to 12 months, but may only grant you a 0% rate for as little as 6 months. By waiting until your card arrives, you can make sure you get the deal you wanted.
Balance Transfer Tip 2: If you know you’ll be able to pay off your credit card before the 0% APR balance transfer period ends, the company you choose doesn’t really matter. However, if you think you’ll need a little extra time, it may be better to choose a good company instead of the one that offers the most tantalizing deal.
I’ve recommended Discover since I first started Smart Balance Transfers in 2007. In 2008 and 2009, when most credit card companies were generating hundreds of complaints on our blog, nobody had issues with Discover. Because of this, I have a strong bias towards Discover. They respect their customers and I respect them for doing so.
Balance Transfer Tip 3: If you have large balances, you might need more than one balance transfer credit card. Credit card companies aren’t as generous with credit limits as they used to be, so getting an initial credit limit of more than $5,000 may prove difficult.
If you need two cards, you might want to consider applying simultaneously. This can give you the opportunity to evaluate the long term interest rates and terms of two cards and choose the best one to use for your balance transfer. Most credit card companies offer a range of long term interest rates that apply after the 0% APR balance transfer period ends; most also do not reveal your long term APR until after your application has been processed. So even if you don’t need two cards to get enough credit, it may be worthwhile to apply for two cards and choose the best long term deal.
*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.