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About Editor's Picks: Our editor selects credit cards based on the features the credit card offers consumers, including introductory rates, fees, long term interest rates, and its relative value compared to competing offers. While this site receives remuneration from credit card companies, our rankings strive to objectively provide consumers with relevant, unique options.

May’s Best Balance Transfer Offers

may-sbt-indexAs spring stretches into summer, many credit card users have not been able to recover from their holiday spending. And the most powerful tool for avoiding interest charges while paying down existing debt remains credit cards with 0% APR promotional balance transfer offers.

This May, credit card applicants can chose from these five top credit cards:

Citi Simplicity® Card

Simplicity continues to offer 18 months of interest free financing on both new purchases and balance transfers, with a 3% balance transfer fee. In addition, Simplicity boasts no late fees and no penalty interest rates, and there is no annual fee for this card.

  • 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 12.99% - 22.99% based on your creditworthiness.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • No late fees - Ever
  • No penalty rate - Ever
  • No annual fee - Ever
  • Save time when you call with fast, personal help, 24 hours a day.
Purchases Intro
Balance Transfers Intro
Regular APR
Annual Fee
Credit Needed

0%* for 18 months*

0%* for 18 months*

12.99% - 22.99% (Variable)*

$0*

Excellent Credit


Citi® Diamond Preferred® Card

Also from Citi, the Citi® Diamond Preferred® Card features the same 18 months of interest free financing that is offered with Simplicity. But instead of no late fees and no penalty interest rates, the Citi® Diamond Preferred® Card features several travel insurance and purchase protection policies that are usually found reward cards with annual fees. But unlike those products, there is no annual fee for this card.

  • Get 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the APR will be 11.99%-21.99% based upon your creditworthiness.*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer.
  • Citi® Easy DealsSM Get what you want for less. Earn Citi Easy Deals Points for the purchases you make with your card.
  • Redeem your points for great online deals on name-brand merchandise, gift cards and even local deals.
  • Let our 24/7 concierge service help book your hotel rooms, flights and more.
  • $0 liability on unauthorized purchases and Citi® Identity Theft Solutions.
  • No annual fee*
Purchases Intro
Balance Transfers Intro
Regular APR
Annual Fee
Credit Needed

0%* for 18 months*

0%* for 18 months*

11.99%-21.99% (Variable)*

$0*

Excellent Credit


Discover it™

Discover’s new offering for 2013 continues to win over fans with two different promotional financing offers. The first, is for 14 months of 0% APR financing on both new purchases and balance transfers, with a 3% balance transfer fee. The other is for 18 months of 0% APR financing on balance transfers, but only 6 months for new purchases. Yet both cards feature 1% cash back on all purchases, and 5% back on purchases from categories of merchants that change every quarter. In addition, there is no annual fee or foreign transaction fees for this card, and the late late fee is automatically waived for card holder’s first late payment.

  • 0% intro APR on purchases & balance transfers for 14 months—then a variable purchase APR applies, currently 10.99% - 22.99%. A 3% fee applies to each transferred balance.
  • Over 5,000 cardmembers rated 4.8 out of 5 stars* and now Discover 'Ranked Highest in Customer Satisfaction with Credit Card Companies in a Tie' by J.D. Power*.
  • 5% cash back for online shopping and department store purchases on up to $1,500 - Oct. through Dec. 2014 when you sign up*. 1% cash back on all other purchases.
  • Free FICO® Credit Score online and on monthly statements*.
  • No annual fee, no late fee for your first late payment - APR won't go up for paying late, no overlimit fee and no foreign transaction fee.*
  • Each Discover purchase is monitored. If it's unusual, you're alerted by e-mail, phone or text-and never responsible for unauthorized Discover card purchases.
  • 100% U.S.- based customer service—anytime, day and night.
  • *See rates, rewards, free FICO® Credit Score terms and other info by clicking 'Apply.'
Purchases Intro
Balance Transfers Intro
Regular APR
Annual Fee
Credit Needed

0% for 14 months*

0% for 14 months*

10.99% - 22.99% Variable*

$0

Excellent Credit


Citi ThankYou® Preferred Rewards Card

Citi offers its ThankYou® Preferred Rewards Card with both rewards and a promotional financing offer. New applicants receive 12 months of 0% APR financing on new purchases and balance transfers, with a 3% balance transfer fee. In addition, cardholders receive 15,000 ThankYou points after making $1,000 in purchases within 90 days of opening a new account. This is worth $150 in gift cards, loan repayments, or travel booked through Citi. Cardholders also receive one ThankYou point per dollar spent on all purchases, and there is no annual fee.

Slate® from Chase

Slate remains in a class of its own as it is the only credit card with a 0% APR promotional balance transfer offer and no balance transfer fee. New applicants receive 15 months of interest free financing on both new purchases and balance transfers. There is no annual fee for this card.

  • Best 0% Offer in 'Crowning 2013's Best Credit Card Offers' (January 14, 2013) -Forbes Online
  • Pay less interest. Save on balances and new purchases
  • $0 introductory balance transfer fee for transfers made during the first 60 days. After that, the fee for future balance transfers is 3% of the amount transferred with a minimum of $5.
  • 0% Introductory APR for 15 months on purchases and balance transfers. After the introductory period ends, a variable APR of 12.99%, 17.99%, or 22.99%.
  • $0 Annual Fee
Purchases Intro
Balance Transfers Intro
Regular APR
Annual Fee
Credit Needed

0% for 15 months*

0% for 15 months*

12.99%, 17.99%, or 22.99% (V)*

$0

Excellent/Good


Editor's Note: This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Citi or any of the other companies whose products are featured in this content.

About the author

Jason Steele

Jason Steele is a freelance journalist specializing in personal finance and travel and is recognized as an expert in credit cards. He is a regular contributor to many of the top personal finance sites such as Wise Bread and Money Talks News. His work has been frequently carried on mainstream news outlets such as MSN Money, Yahoo, Finance, and Business insider.

Jason lives in Denver Colorado with his wife and two daughters.

– has written 327 posts.

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