0% APR Promotional Balance Transfer Offers – What Could Go Wrong?

0-percent-aprPromotional financing offers that feature 0% APR on balance transfer offers are incredible financial tools. These credit cards allow customers to transfer their balance from another card, and avoid interest payments for up to 18 months.

Nevertheless, these offers are not foolproof. Here are some of the things that can prevent cardholders from utilizing these offers:

  • Fair. No annual fee. No overlimit fee. No foreign transaction fee. Pay up to midnight ET online or by phone on your due date without a fee. Plus, paying late won't raise your APR.*
  • Generous. 5% cash back at Home Improvement Stores, Furniture Stores and Bed Bath & Beyond® on up to $1,500 in purchases from April through June 2014.*
  • Human. 100% U.S.-based customer service available any time.
  • Safe. Because you're never responsible for unauthorized charges with our $0 Fraud Liability Guarantee.
  • Plus, free FICO® Credit Score on your monthly statement to help you stay on top of your credit.*
  • 0% Intro APR* on balance transfers for 18 months. Then the variable purchase APR applies, currently 10.99% - 22.99%. A fee of 3% applies for each balance transferred.
  • 0% Intro APR* on purchases for 6 months. Then the variable purchase APR applies, currently 10.99% - 22.99%.
  • * Click 'Apply' to see rates, rewards, and free FICO® Credit Score terms and other information.
Purchases Intro
Balance Transfers Intro
Regular APR
Annual Fee
Credit Needed

0% for 6 months*

0% for 18 months*

10.99% - 22.99% Variable*

$0

Excellent Credit


1. Applicant is not approved. Credit cards with 0% APR promotional financing are only offered to those with the best credit scores. Those who have a limited credit history, a large amount of debt, or a record of missing payments are unlikely to qualify.

2. Low credit limit granted. Even when approved, credit cards with promotional financing may not offer recipients as high of a credit limit as they might have liked. As a result, it may not be possible for cardholders to transfer their entire balance to the new card, and they will still have to pay some interest.

3. The balance transfer is not performed correctly. Sometimes, balance transfers are requested, but they are not completed in a timely fashion. Therefore, cardholders should always continue to make payments on their balance until the balance transfer is confirmed by the issuer of the card that the balance is being transferred from.

4. The balance transfer is used to enable procrastination. The purpose of a promotional balance transfer is to pay off debt more quickly by saving money on interest payments. Yet too many cardholders see these offers as a way to avoid paying debt indefinitely. This is a mistake.

  • Pay less interest. Save on balances and new purchases.
  • $0 balance transfer fee - introductory offer!
  • 0% Introductory APR for 15 months on purchases and balance transfers
  • $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%, 22.99% (V)*

$0

Excellent/Good


Cardholders should always try to pay off their entire balance before the promotional financing expires. Those who want to count on continuing to receive more balance transfer offers in the future are setting themselves up for problems. Balance transfers offers come and go, and credit card holder’s credit scores can rise and fall. At some point, the music can stop, and those who rely on the balance transfers may not have a chair.

  • 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 12.99% - 21.99% 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% - 21.99% (Variable)*

$0*

Excellent Credit


When credit card users understand some of the ways that 0% APR promotional balance transfers can fail to produce the desired results, then they can take steps to ensure that it does not happen to themselves.

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 251 posts.

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