Now that New Year’s resolutions have been made and holiday credit card bills have started to arrive, many consumers will be searching for ways to save money in 2012. Taking advantage of 0% balance transfer credit card offers is one of the easiest and most effective ways to get a handle on credit card debt and prevent interest charges from piling up.

Fortunately, credit card companies are eager for new card-holders and many have rolled out special balance transfer offers this January. These offers range from short term, no fee balance transfer promotions lasting 12 months to long, low fee offers lasting up to 21 months.

Noteworthy 0% Balance Transfer Offers

January is a rare month in the balance transfer universe, as consumers are faced with two types of very good balance transfer options. The first option is the no fee balance transfer. Both Discover and Chase are offering fee free transfers that can save consumers 3% of every dollar transferred ($30 for every $1,000 transferred). Continue Reading »

For the second year in a row, Discover is running a limited time 0% APR no fee balance transfer promotion. This is presently the only no fee balance transfer offer on the market.

Consumers who apply and are approved for this Discover card (see online application here) pay no fees to transfer balances and are granted a 0% APR on balance transfers and purchases for 12 months. Because balance transfer fees typically range from 3% to as much as 5% of the amount being transferred, opting for this offer saves consumers $30-$50 for every $1,000 transferred. On a $3,000 balance transfer, this works out to an additional $90-$150 of savings in addition to what can be saved with a 0% interest rate. Continue Reading »

January typically marks the beginning of balance transfer season for consumers and 2012 looks to be getting off to a good start. Consumers who anticipate needing a significant amount of time to repay their credit cards will find it possible to get a 0% APR balance transfer lasting 21 months, while those who are confident they can repay balances sooner can get a 0% APR for 12 months and pay no balance transfer fees.

The Best Balance Transfer Offers of the Month

Given the availability of both long term 0% APR offers with low 3% fees and shorter term no fee balance transfer cards, selecting the best balance transfer card really comes down to individual needs. Consumers who want to save on upfront fees ($30 for every $1,000 transferred) and are comfortable with only a 12 month 0% balance transfer period are likely best off with the recently released, limited time no fee balance transfer offer from Discover. This card is ideal for consumers who simply need a few months to get caught up on outstanding bills. Continue Reading »

While many consumers may be racking up credit card debt this month, those who are taking the time to assess existing debt will find that 0% APR balance transfer credit card options in December are as good as they were during any month of 2011.

In keeping with long term trends, Citibank continues to offer the longest balance transfer offers. They presently offer three cards with 0% interest rates lasting 21 months on balance transfers as well as new purchases. Discover remains competitive, with two cards offering 0% rates on balance transfers for 15 months or longer. And, for those who want to save on upfront fees and only need a short window to repay credit card debt, the Chase Slate card continues to be the only 0% no fee balance transfer credit card on the market.

December’s Best Balance Transfer Offers

For most consumers, and especially those who foresee the need to make purchases that cannot be immediately repaid, Citibank balance transfer offers are likely the best option. The Citi Platinum Select, Diamond, and Citi Simplicity card all offer a 0% APR on balance transfers and purchases lasting 21 months. These offers are three months longer than the second longest balance transfer promotion and a full six months longer than the second longest 0% APR on purchases promotion. All three cards carry standard 3% balance transfer fees. Continue Reading »

A few weeks ago, a Facebook page declaring December 11th as Balance Transfer Day sprung up. This marginally coherent “movement” to occupy credit card companies was clearly aiming to piggyback on the success of the Move Your Money Project as well as the Occupy Wall Street (or whatever irks you today) Movement.

The stated goal of the “movement” was to get consumers to utilize low and 0% balance transfers as a way to save money while getting back at major credit card companies. The underlying logic and motives weren’t so clear.

Earlier this week, Candice Choi of the Associated Press wrote an excellent investigative article questioning the motives of the people behind Balance Transfer Day. This controversy brought national attention to the matter and, in the process of shooting holes in the “movement,” it also served to increase awareness of balance transfers.

Consequently, the Balance Transfers Day controversy may end up helping consumers more than the “movement”.

How Consumers Can Benefit from Balance Transfers Day

Simply put, balance transfers allow consumers to transfer high interest rate debt to a new credit card that offers a low and/or 0% interest rate for anywhere from 6 months to a current maximum of 21 months. During the 0% introductory period, consumers pay no interest on outstanding balances. The ability to avoid interest expenses during a 0% balance transfer promotion can help consumers pay down the principle portion of their credit card debt faster or, at the very least, prevent interest from piling up. Continue Reading »

December may be the time for shopping, but consumers will find that the best credit cards offering 0% balance transfers this month can provide significant long term savings. Many of these credit card offers also come with 0% interest rates on purchases that can reduce the cost of buying holiday gifts on credit.

Presently, the longest 0% APR credit card deals offer 0% interest rates lasting 21 months on both purchases and balance transfers. These credit cards can help consumers who would be racking up debt on high interest credit cards from having to pay a balance transfer fee down the road while saving them money on current balances.

Best 0% APR Credit Cards for Shoppers and Balance Carriers

Citibank presently offers a trio of 0% APR balance transfer credit cards that also offer 0% interest rates on purchases. The longest of these offers are available on the Citi Platinum Select and Citi Diamond Preferred cards. Both cards provide a 0% rate for 21 months. A third card, the Citi Dividend, offers a shorter 15 month 0% APR on balance transfers and purchases, but also provides a $100 cash back bonus to consumers who spend $500 within three months. Continue Reading »

Many credit card holders are unsatisfied with their credit cards, their bank, or both. They do not like paying late fees and over the limit fees that they feel are arbitrary and punitive. Nevertheless, most cardholders continue to do business with super-sized banks that charge these fees. They may do so out of habit, out of convenience, or perhaps out of a perceived lack of choices. Cardholders actually do have a choice to do business not with a bank, but with a credit union.

The Pentagon Federal Credit Union, which is easy to join, offers the PenFed Promise Visa card as an alternative to fee laden major bank credit cards. The PenFed Promise Visa card charges no late fees, no balance transfer fee, and no foreign transaction fees, features that many consumers can benefit from.

PenFed Promise Visa Card Overview

The PenFed Promise Visa  is a rare card that may best be defined by what it isn’t rather than what it is. This card has no annual, foreign transaction, balance transfer, cash advance, over the limit, or late fees. New customers will receive a 4.99% APR on balance transfers for 36 months, and an introductory APR of 7.49% on purchases for three years. After that, customers will incur interest at a rate equal to the Prime Rate plus 6.74%.  There is a no-fee cash advance rate of 17.99% APR, and there isn’t even a penalty interest rate that applies when customers fail to make timely payments. Continue Reading »