During the past four years, American Express and Advanta both issued credit cards that offered fixed APRs on balance transfers until the balances were repaid. As of September 19th, none of these offers are available to consumers. Advanta, which had offered a 2.99% fixed APR with its life of balance card, and American Express, which had offered 4.99% fixed APRs on a number of cards, have removed these offers from the market. American Express replaced its fixed for life offers with 2.99% for 12 month offers. However, these balance transfers also carry a 3% fee, making 0% APR for 1 year offers a substantially better deal for consumers.
For consumer's sake, we hope the move away from fixed APR for life balance transfers is short lived. Unfortunately, it could be months, or more likely, years before such offers return to the market. In the interim, we suggest seeking out a credit card that offers a 0% APR for a year on balance transfers. Below are our current recommendations.
 Low Variable and 0% APR Alternatives to Fixed APR Balance Transfers
|
