Best 0% Balance Transfer Cards
A balance transfer card can be a great way to save money on interest charges if you have high-interest credit card debt. But with so many cards on the market, how do you choose the best one for you?
Here are a few things to consider when shopping for a 0% balance transfer card:
1. Intro APR Period:
- Look for the longest possible introductory 0% APR period. Some cards offer 0% APR for 12 months, while others offer up to 21 months. The longer the introductory period, the more time you have to pay off your debt without incurring interest charges.
- Be aware of the APR after the introductory period. Make sure you can comfortably pay off your balance before the introductory period ends, or you could end up paying a high interest rate.
2. Balance Transfer Fee:
- Balance transfer fees can range from 3% to 5% of the transferred balance. Shop around for cards with the lowest balance transfer fee, or consider cards that offer a 0% balance transfer fee for a limited time.
- Some cards waive balance transfer fees for a limited time. Keep an eye out for these offers as they can save you a lot of money.
3. Other Fees:
- Look for cards with no annual fee. You don't want to pay an annual fee for a card you're only using to transfer a balance.
- Read the fine print carefully. Some cards may have other fees, such as late payment fees or over-limit fees.
4. Credit Score:
- Your credit score will play a major role in determining your eligibility for a 0% balance transfer card. Cards with longer 0% APR periods typically require a higher credit score.
5. Other Features:
- Consider features like rewards programs or cash back. These features can help you save even more money in the long run.
Here are some popular 0% balance transfer cards to consider:
- Chase Slate: Offers 0% APR for 15 months and no annual fee.
- **Citi Simplicity®: ** Offers 0% APR for 21 months and no annual fee.
- Bank of America® Customized Cash Rewards Credit Card: Offers 0% APR for 18 months and no annual fee.
Remember to read the terms and conditions carefully before you apply for any credit card. By following these tips, you can find the best 0% balance transfer card to help you pay off your debt and save money on interest charges.
