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0% APR BALANCE TRANSFER CREDIT CARDS

Balance transfer credit cards provide consumers the opportunity to save substantial amounts of money on interest. For many people, a 0% balance transfer can reduce interest expenses by more than 75%. This can translate into hundreds, even thousands of dollars in yearly savings. A year ago, the vast majority of companies offered 0% rates for a full year. Today, these offers are difficult to find, as the average 0% intro period has been reduced to about 6 months, though some exceptions can be found.

Below you will find information on 0% balance transfer credit cards as well as links to secure online applications. All links open in new windows. If a link fails to open, temporarily disabling your pop-up blocker will fix the problem.

DISCOVER® MORE(SM) CARD - 0% ON BALANCE TRANSFERS FOR 12 MONTHS


  • 0% Intro APR for 6 months on Purchases, and 12 months on Balance Transfers*
  • Editor's Note: This is the top pick for balance transfers becauses, unlike many other credit card companies that advertise a 0% APR for 12 months, Discover delivers on their advertised rate to approved applicants. Other credit card companies advertise a 0% rate for up to 12 months, but may only grant you that rate for as little as 6 months.
  • Earn more cash in more ways than anyone else(SM)
  • Unlimited cash rewards, automatically
  • Up to 20% Cashback Bonus® when you shop online
  • Double rewards with more than 100 Cashback Bonus Partners
  • Customer Service in less than a minute, anytime you want
  • $0 Fraud Liability Guarantee

Introductory APR

Introductory APR Term

Regular APR

Annual Fee

Credit Type

0% *
12 Months *
As low As 11.99% *
None *
Good

CITI® PLATINUM SELECT® CARD


  • 0% APR* on balance transfers and purchases for 7 or 12 months, based on a review of your application.
  • No annual fee
  • Citi® Identity Theft Solutions
  • $0 Liability on unauthorized purchases

Introductory APR

Introductory APR Term

Regular APR

Annual Fee

Credit Type

0% *
7 or 12 Months *
As low as 11.99%(V) *
None *
Good

BRYANT STATE BANK MASTERCARD®


  • No Balance Transfer Fee
  • 3.25% Introductory Balance Transfer Rate for 6 Months
  • $20 Annual Fee
  • Low Interest Rate of 11.25%*
  • $0 Fraud Liability
  • 24/7 Online Account Access
  • Emergency Cash Advance & Card Replacement
  • Worldwide Acceptance
  • *See Card Terms and Conditions

Introductory APR

Introductory APR Term

Regular APR

Annual Fee

Credit Type

3.25% on Transfers *
6 Months *
11.25% *
$20 *
Good

DISCOVER® MOTIVA(SM) CARD



 MORE DETAILS HERE
  • 3.99% Intro APR for 6 months on Purchases, and 12 months on Balance Transfers*
  • Get a Pay-On-Time Bonus(SM) equal to a full month’s interest every time you make 6 on-time payments in a row—twice a year, every year
  • 5% to 20% Cashback Bonus® at top retailers through our exclusive online shopping site
  • Increase, even double, your rewards when you redeem for gift cards from our 100 Cashback Bonus Partners
  • No annual fee

Introductory APR

Introductory APR Term

Regular APR

Annual Fee

Credit Type

3.99% *
Up to 12 Months *
As Low As 11.99% *
None *
Good

GOLF MAGAZINE REWARDS VISA® CARD


  • Save with an introductory 0% Annual Percentage Rate (APR) for Balance Transfers through your first 6 monthly billing cycles.
  • Free 1 dozen Titleist Pro V1 golf balls after your first purchase of $50 - a $58 value!
  • Earn 1% cash back. Or earn points for golf gear, access to championship courses, VIP golf experiences, plus travel, merchandise, and gift cards
  • Points don't expire (as long as your account is open and you use your credit card every 24 months)
  • No annual fee

Introductory APR

Introductory APR Term

Regular APR

Annual Fee

Credit Type

0% on Transfers *
6 Months *
16.24% *
None *
Excellent

DISCOVER® MORE(SM) CARD - CLEAR



 MORE DETAILS HERE
  • Earn more cash in more ways than anyone else(SM)
  • Unlimited cash rewards, automatically
  • Up to 20% Cashback Bonus® when you shop online
  • Double rewards with more than 100 Cashback Bonus Partners
  • Customer Service in less than a minute, anytime you want
  • 0% Intro APR for 6 months on Purchases, and up to 6 months on Balance Transfers*


Introductory APR

Introductory APR Term

Regular APR

Annual Fee

Credit Type

0%* *
6 Months* *
11.99% - 19.99%* *
None *
Good

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Understanding 0% Balance Transfers

Balance Transfers Will Save You Money and Help You Get Out of Debt Faster

Obviously, transferring debt to a credit card that charges no interest for a year will save you money. What surprises people is just how much money they can save. Taking standard balance transfer fees into consideration, a person with a 14% interest rate can expect to save around $100 for every $1,000 they transfer to a 0% card. For a person with $5,000 in credit card debt, the savings will likely exceed $500.

Saving $500 in one year is great. However, the most overlooked benefit of balance transfers is the role a 0% rate can play in getting you out of debt quicker. Here’s a prime example:

A person with $5,000 in debt and an average interest rate of 14% will need to pay $250 every month for the next 8 years to become debt free. That’s right: 8 YEARS. In that time, they’ll spend over $1,400 on interest.

However, if that same person does a 0% balance transfer and makes a $250 monthly payment, their debt will be reduced by close to 60% in just one year. If the interest rate goes back to 14% after the 0% period expires, it will only take one more year of $250 monthly payments to be completely free of credit card debt.

By taking advantage of a 0% balance transfer, a person can get out of debt 6 years quicker and save over $1,000 in interest. There truly is no easier way to free oneself from the burden of credit card debt. This, unfortunately, is the reason banks are making it more and more difficult for consumers to get approved for these offers. Fortunately, as long as 0% balance transfers are available, a credit card debt free life doesn’t have to be the road less traveled.

Securing a 0% APR for a Full Year

The credit crunch has severely impacted the duration of 0% APR balance transfers and all but completely eliminated fixed APR for life balance transfers. While it was common to see 0% offers lasting one year to as much as 15 months during the credit boom, most credit cards now only offer 0% rates for 6 months.

The Current State of Balance Transfer Fees

From 2006 to 2008, a number of credit cards offered 0% interest rates on no fee balance transfers. Today, these offers have been pulled from the market. Presently, a few companies offer no fee balance transfers, but they do not offer 0% rates. The industry standard fee for balance transfers is currently 3% to 5%. These fees are vastly offset by the savings a 0% balance transfer can provide. For example, a person who has a 20% interest rate that does a 0% balance transfer for 1 year with a 5% fee will pay 75% less in interest and fees than they would without a balance transfer.

Frequently Asked Balance Transfer Questions?

Which Credit Cards Should I Transfer Balances From First?

Although it should go without saying, it makes the most economic sense to transfer balances from credit cards with the highest interest rates first. Some "experts" may suggest eliminating cards with low balances first as a means to feel like you’re making progress. However, when all is said and done, the most important thing is maximizing the amount of money you save.

How Long Does it Take for a Balance Transfer to Occur?

While it varies from company to company, you should anticipate at least a few weeks for your balance transfers to clear. During this time, closely monitor you credit card accounts online and continue to make payments in a timely fashion. Missing a payment on a credit card can cause your account to default, leading to interest rates of 29% or more. With credit card companies anxious to raise rates on consumers, it’s much better to be safe than sorry.

Will Doing a Balance Transfer Hurt My Credit Score?

While there is no definitive answer to this question, it is possible to hurt your credit score if you close your old accounts before paying down your debt. This issue arises because a primary component of your credit score is based on how much of your available credit you are using. A person using 80% of their available credit appears maxed out to lenders. Thus, keeping your old credit card accounts open will reduce your overall credit usage, which could actually improve your score.

*Important Disclaimer: See online credit card applications for complete details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the “Apply Now" button, you can review the credit card terms and conditions on the issuing company's website.

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