Credit card issuers are in such fierce competition these days to attract new customers that most have started offering sweetheart deals to win you over, like ultra-long 0% introductory interest periods. While these types of offers can be great (switching from paying something like 15% interest to 0% is obviously a smart move), so many cards are offering so many varying offers that sifting through them to find the better ones can become a little confusing.
Like most things, there's no single answer for everyone, yet in our research, we found that four cards in particular each offered appealing features that beat out other similar cards. One offers a solid 15-month 0% term, yet charges no balance transfer fee. Two more offer nice 0% intro terms together with attractive cash back rewards programs.
Chase Slate® has no balance transfer fee, no annual fee, and still delivers 15 months interest-free on any balance transferred in the first 60 days. You only need good credit to be approved as opposed to excellent, so it's a bit easier to get in than most cards offering this level of incentive. There is no significant rewards program, since the Slate is all about the balance transfer features. No transfer fee and no annual fee, combined with the 0% intro APR means that this is free money for the 15 month term, no catches. If you don't need the entire 18 months offered by the BankAmericard, the Slate can be your best bet since it doesn't have a balance transfer fee. More Details >
BankAmericard® Credit Card has an unbelievable 18 billing cycles (months) of 0% intro APR, which is the longest interest-free intro period here. The card does, however, charge a 3% balance transfer fee. If you're carrying a balance, and realistically you know you will have to carry that balance for a while, this card becomes a no-brainer. As an example, assume you have a $10,000 balance on your current cards at a 15% rate. Over the 18-month term, you would have paid $2,522 in interest.* Switching to this card would cost $300 in fees, but then nothing the rest of the way, for a net savings of $2,222 making the transfer. More Details >
Capital One® Quicksilver®Cash Rewards Card includes 0% intro APR on balance transfers 9 months, 1.5% cash back rewards and $100 cash bonus. All with no annual fee. This is good if you want to consolidate your credit card balances, save through the balance transfer, but also earn rewards on any new spending you make. The Quicksilver does charge a 3% balance transfer fee. Most appropriate for anyone looking to transfer a balance and make some purchases. Making the charges on the Quicksilver would earn cash back but not require any interest during the intro period. More Details >
Chase Freedom® offers 15 months of 0% intro APR, 1% cash back rewards and $150 bonus. All with no fee. Temporary offer to new card members: If you charge $500 in the first 3 months, you’ll earn a $150 bonus. Combine that with the 1% standard cash back feature, plus 5% cash back in certain rotating spending categories per quarter (at the time of this writing it includes gas and local commuter transportation) and this card really starts to pay. All this and you get 15 months of 0% intro APR. Does, however, charge a 5% balance transfer fee. But still a great combination of 0% intro APR, solid cash-back rewards, and an attractive limited-time bonus offer. More Details >
With so many issuers competing to offer such great introductory incentives, it seems smart to make use of them in the right way! We hope our reviews of these cards was helpful, and if you have any comments, please don't hesitate to let us at the LendingTree Credit Card Review Team know!
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