Looking for the best 0% APR terms on credit cards? You’ve come to the right place. A 0% APR balance transfer credit card allows you to move balances away from high-interest-rate cards and thus save on interest. When used carefully, they can be a useful tool for managing and reducing the amount of interest you pay on debt.
With changes coming as a result of new credit card laws, it’s uncertain how long card issuers will continue to offer balance transfers at 0% APR terms. If you’re thinking of doing a balance transfer to take advantage of a 0% interest promotion rate, you might want to look for one sooner rather than later, since the recent trend is for 0% APR offers to erode to less attractive terms.
Here are some of the best 0% APR balance transfer offers which are currently active:
Longest 0% APR Balance Transfer Credit Cards
Citi Simplicity® Card
Citi Simplicity® Card features include:
0% intro APR on balance transfers for a whopping 18 months. Longest active 0% APR balance transfer deal that we’ve seen
0% intro APR on purchases for 18 months
No late fees – EVER
No penalty rate – EVER
No annual fee – EVER
See full details or apply
Chase Slate® is another card worth the look.
Chase comes with Blueprint from Chase® which allows you to separate out and pay for larger items from smaller purchases on your statement, so that you can avoid paying interest on every day items. The main features of the Slate® from Chase balance transfer credit card are:
$0 introductory balance transfer fee
0% introcutory APR for 15 months on purchases and balance transfers
$0 annual fee
Plus, you receive your monthly FICO® score for free.
About a year ago I jumped on the USBank Visa card which was a no-fee transfer and 0% on balance transfers and purchases for 12 months. That rate expired 2 days ago. I tried a few different offers but my mortgage applications late last year contributed to me being turned down for any offers with a big enough credit limit to be useful.
Fortunately I still had an old Citi Platinum card which had some transfer offers. I was able to transfer ~$5800 with a 3% transfer fee and 1.99% interest until March of 2011. It’s not the best offer I’ve ever had but I was able to take advantage of it without decreasing my average account age. Plus since I have had this card for 10 years I am no where near the credit limit. As soon as all the inquiries drop off my credit report I should be looking great if I need credit in the next year or 2.
Introductory offers are great, but sometimes you can have better luck utilizing a card that you already carry. As Nickel said even these offers might be getting scarce. The offer I took advantage of was posted in November and I have not seen anything like it posted since that time.
problem is, moving debt around and renaming it don’t solve the problem. debt. The debt is still there. You think you have done something to solve the problem but you did not. Perhaps you save a few bucks in interest if you’re really lucky, but you still have the debt.
I agree with you. I still have a debt that I need to repay. This just reduces my cost while I gather the funds. If I had not bought my house in October I would have eliminated this debt by now. However I used my credit offers to increase the size of my available down-payment to secure better terms for my mortgage, which will save me far more in interest than an extra year under credit card balances will cost.
Between debt reduction and savings additions I have been making over $1000/month of progress for the last 6 months that I have been keeping track. I am still in phase 1 of my debt elimination project, so offers like these are still necessary to progress.
I agree with you that transferring a credit card balance is just a short term tactic rather than a long term strategy. The nice thing about some of the Discover Cards is that they are not only good for doing a balance transfer but also good for using as a cash back/rewards card once the balance is paid off in full (and hopefully then paid off in full each and every month).
I agree with Mike — I have a Citi 0.99% balance transfer that I’ve been paying off for the last few years and they’ve tacked on a $60 annual fee to make more money. This is an indication that they are willing to change terms in their favor whenever they please. Do you really want to do business with a company like this? Fortunately, it’s just about paid off and I will be canceling as soon as we buy a house.
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