Longest 0% APR Balance Transfers – Summer 2011
Transferring the balances from existing credit card accounts to a new credit card with 0% APR for balance transfer transactions is an increasingly popular way for consumers to reduce and effectively eliminate their debts. Credit card balance transfers allow card holders to transfer existing balances from other credit cards to the new card, provided that the credit limit is adequate for the balances due.
Once the balances have been transferred the cardholder pays no interest on the new balance for a promotion period of time, generally 12 months. This transfer method allows consumers to eliminate their debts and pay only one monthly bill. Without having to pay additional finance charges, consumers can effectively wipe out their debts within the promotion time period and save money while doing so. Balance transfers also eliminate paying multiple finance charges on existing cards.
Introductory offers for 0% APR credit cards are designed for those with good or excellent credit histories and scores. Once the promotion period ends, the interest rate on the credit card will increase relevant to the consumer’s credit standing. While most introductory 0% APR offers last upwards of 12 months, there are some credit card providers that offer extended time periods to enjoy zero-percent financing. Here are the best credit card offers for balance transfers:
Citibank, via the Citi Platinum Select MasterCard, offers a 0% APR for a full 21 months on purchases and balance transfers. This is a no annual fee credit card and also a low interest credit card.
Discover, via two versions of the Discover® More® Card, offers either a 0% APR for 15 months on balance transfers and purchases or a 0% APR for 18 months on balance transfers, depending on the offer you choose.
Chase, via the popular Chase Slate credit card, offers a 0% APR for up to 15 months on balance transfers and purchases. Applicants with good and excellent credit qualify for the longest rates, while those with average credit will get a 0% APR for 6 months. The Slate card also comes with Chase Blueprint, a popular online money management tool.
For additional information, please see the 0% APR balance transfer credit card area of this website to evaluate current offers. Rates and fees change frequently, so be sure to confirm all information before applying. Information in this article is accurate as of the date of publication.
