Balance transfer cards are your best bet to get out of the sticky spot of mounting debts and high interest rte by transferring the balance to a card that has low interest or zero interest for a certain amount of period.
When you look for
balance transfer cards, you have to look for the ones that offer very low or
zero interest rate, no or very less balance transfer fees and no annual fees.
You can also go to an aggregator site which has many balance transfer cards in
one platform so that you can do comparison shopping and pick the one that suits
you the best. Here are some good deals on balance transfer cards that you can
check out this summer.
1.
Citi Platinum Select MasterCard - This card offers zero percent
interest rate for up to 18 months, after which the interest rate is just 9.99
percent. The balance transfer fee is 3 percent and there is no annual fee.
There is a $30 statement credit which means if you spend that amount in the
first three months, there is a substantial waiver to your balance transfer
fees.
2.
Citi Diamond Preferred Card
- It has 0 percent introductory APR for 18 months on balance transfers and
purchases. After 18 months you APR will be 11.99%-21.99% depending on your
creditworthiness. Balance transfer fee is 3% or $5 minimum.
3.
Simmons First National Bank Visa Platinum Card – You may not get a
zero percent offer here but still this is one of the best balance transfer
deals you can get because the APR is 7.25 percent for the life of the balance
and there are no annual fees or balance transfer fees involved. No doubt, you get many deals from Citi and
Chase that have 0 % APR for the first few months but Simmons First National
Bank Visa Platinum Card can give you better peace of mind and you do not have
to worry about looking for another deal after the introductory period is over.
4.
Chase Slate – There is no balance transfer fee if you transfer the
balance from another credit card to Chase Slate within first 30 days of opening
an account unlike other accounts that do
charge a balance transfer fee. There is 0 percent introductory APR for
purchases and balance transfers for 15 months, after which the APR can go to 11.99%, 16.99% or 21.99% depending on your credit score.
5.
Capital One
Platinum Prestige Card - This is also a good balance transfer card issued by
Capital One, wherein there is 0 percent APR on balance transfers and purchases
till September 2013 for new card members. The balance transfer fee is 3
percent.
6.
Chase Freedom Visa with
$100 Bonus as Cash Back - This card
offers 0 percent APR on purchases and
balance transfers for the first 15
months as well as a sign-up bonus of $100 cash back after
spending $500 in the first three months Balance transfer fee is 3% or $5
minimum. There is no annual fee.
7.
USAA World
MasterCard - This is not advertised as much but it is a very good deal to go
for. If your credit history is excellent, you can benefit from the low APR of
8.9 percent which is not for any amount of period. The balance transfer fee is 3 percent of the
balance. There is no annual fee involved as well.
