5 Balance Transfer Credit Cards
Credit cards that offer promotional balance transfers can be incredibly valuable. These offers give cardholders the opportunity to transfer their existing balances to their new account and enjoy 0% APR for a limited time. By law, these offers must last a minimum of six months, but the longest ones currently available extend for 21 months.
1. Chase Slate®
Nearly all credit cards with 0% APR promotional financing impose a 3% balance transfer fee, except for Chase Slate®. New cardholders receive 15 months of interest free financing on both new purchases and balance transfers, and they can perform a balance transfer within the first 60 days of account opening with no balance transfer fee. After the first 60 days, you’ll pay 5% of the amount transferred, with a minimum of $5. Once the promotional financing rate expires, the remaining balance will be subject to the standard interest rate, which is a variable APR of 13.24%, 18.24% or 23.24%. Thankfully, paying late won’t affect your interest charges, as this card has no penalty interest rate.
This card is an excellent choice for people who need some extra help getting their credit back on track. One great feature of the Chase Slate® card is the ability to see your monthly FICO score online at no extra cost. You will also have access to Chase’s Blueprint program, which allows you to keep track of your debt payoff, including determining which categories you will pay in full each month, such as gas and groceries, instead of paying interest on those everyday purchases. You can also choose to pay off a large purchase quickly using the Split feature to set a time frame and monthly payment plan. This card has no annual fee.
2. Chase Freedom®
Chase Freedom® is another card that features both an introductory balance transfer offer and cash back rewards. This is a great option for someone who can keep track of the revolving rewards categories and is interested in a balance transfer under $15,000. This card has a 0% introductory APR for 15 months on new purchases. There is a balance transfer fee of 5%, with a minimum fee of $5. This card provides rotating rewards categories that allow you to maximize returns during different quarters of the year. Earn 5% cash back up to $1,500 in bonus categories that you activate each quarter, including grocery stores, movie theaters, restaurants, Starbuck’s, gas stations, Zappo’s and Amazon. You will earn 1% cash back on all other purchases. Cash back rewards are tracked as points and can be redeemed for statement credits, gift cards and travel. New applicants may be eligible to earn a $150 bonus after spending $500 on purchases in the first three months of account opening. Cardholders will benefit from fraud monitoring for added security and alerts, which will help set dollar limits on different transactions, including ATM withdrawals. You can activate the feature to receive a text if the balance reaches specific amount. You don’t have to have excellent credit for this card. You may qualify for Chase Freedom® with good credit, and with no annual fee, you can keep the rewards active as long as you maintain the account.
3. Citi Simplicity® Card - No Late Fees Ever
Citi Simplicity® Card - No Late Fees Ever® Card – No Late Fees Ever – is a great balance transfer option for cardholders who are worried about paying late, as it has no late fees and no penalty APR ever. This card offers 0% APR introductory financing on purchases and balance transfers for 21 months, and a standard APR of 13.24% to 23.24% after that. Cardholders can also benefit from several features that that they can use to stay in control of their finances. For example, you can set up automatic account alerts that will send text or email alerts on balance levels, payments due or when you spend over the credit limit, and you have the ability to change your payment due date to a more convenient time in the month, such as just after payday. Another feature included with this card is the Citi Price Rewind. If Citi finds it for a lower price for a qualifing purchase within 60 days of sale, you can be refunded the price difference up to $300 per item, and up to $1,200 per year. Citi Simplicity® Card - No Late Fees Ever offers no rewards and has no annual fee.
4. Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases
Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases is another card that offers 0% Intro APR on balance transfers and purchases for 21 months, with a 3% balance transfer fee. After the promotional financing offer expires, the standard APR will be 12.24% to 22.24% with a penalty APR of up to 31.24% in the event that you make a late payment. Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases does not have a direct rewards program where you can earn points or cash back, but this card offers many benefits for those who shop online and want access to special entertainment offers. Cardholders can access Citi Easy Deals that offers special deals on shopping at name brand stores like Gap, CVS and Footlocker. You will also benefit from the personal concierge service and Private Pass program that can assist you in making exclusive dinner reservations at Citi Preferred restaurants, and purchasing tickets to concerts, shows and sporting events. Make the most of the credit card account’s security features, including choosing your own payment date, setting up automatic account alerts and more. These options will help you stay on top of your spending and let you know if you are reaching a credit limit. This card is compatible with the Apple Pay system, and you will be eligible for damage and theft protection, worldwide car rental insurance, and travel and emergency assistance. With a low interest rate and access to great benefits, the Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases card is an excellent choice for people with good credit. There is no annual fee for this card.
5. Citi® Double Cash Card – 18 month BT offer
If you are looking for a cash back card that also features 0% APR promotional financing on balance transfers, Citi® Double Cash Card – 18 month BT offer offers just that. This card extends interest free financing for 18 months on balance transfers completed within the first four months of account opening, and there is a 3% balance transfer fee. After that, the standard APR will be 13.24% to 23.24% based on your creditworthiness. Cardholders will earn 1% cash back on all purchases at the time of sale, and another 1% cash back on all payments you make as long as the payment is equal or greater to your minimum balance. Once you reach $25 in cash rewards, you can redeem that amount in the form of a check, statement credit, gift card, or a credit deposited directly into your Citi savings or checking account that was used to pay a Citi credit card bill at least two times. Cash rewards are active as long as you keep the account open. A perk of Citi® Double Cash Card – 18 month BT offer is the waiver of the late fee on the first time you pay late. There are no restrictions on the amount of cash back you can earn and no category limitations. As with the Citi® Diamond Preferred® Card – 21 Month Intro Offer on BT and Purchases, customers may access benefits from Private Pass and Price Rewind. This card has no annual fee.