The No Headache Guide to the Best Balance Transfers

Over the last five years, I've seen the credit card industry undergo a number of changes. And, when it comes to balance transfers, most of these changes have not been good for consumers.  No fee balance transfer offers have disappeared, balance transfer fees have gone up, and new tricks have appeared in the fine print of many credit cards.

As a result of these changes, helping people find the best balance transfer credit card has become a lot more difficult.

Presently, credit card companies are frantically raising interest rates and cutting the length of 0% APR deals. Because most credit card companies no longer offer 0% rates lasting more than 6 months, the Discover® More (SM) Card - American Flag card, which offers a 0% APR for 12 months, is currently the best deal around.

Now, while the Discover® More (SM) Card - American Flag offers a 0% APR on balance transfers for 12 months, it does charge a 5% fee. However, most cards that offer a 0% for 6 months charge at least a 3% fee. Thus, with a 5% fee, you essentially pay 5% interest for the year. Compared to 10%, 15% or 20%, you're looking at tremendous savings. And, unless you can repay your balance in 6 months, paying an extra 2% is a much better option than paying a standard interest rate for 6 months of the year.

If you're ready to apply, you can view the Discover® More (SM) Card - American Flag application here.