Youwill be able to save hundreds of dollars just by moving a high-interest ratebalance to a balance transfer credit card that has a zero percent introductoryrate. A card with a longer introductory period is the best choice that youshould look at because this will give you plenty of time to pay off yourbalance and also avoid paying interest. You can also look out for cards thathave no balance transfer fee, rewards, zero percent on purchases to save moremoney.
Top 5 Cards for Balance Transfer
Best for No Balance Transfer Fee: Chase Slate
With this card,you will not pay for a balance transfer fee on any balance that you transferduring the first 60 days that you open your account. After 60 days, then youwill pay a balance fee of five percent of the amount that you transferred. Youwill also enjoy a zero percent introductory APR on purchases and balancetransfers for 15 months after you open your account. There is a regular APR of16.44 to 25.74% that applies afterward. The best part is that it has no annualfee and no penalty APR if you miss a payment.
Best for no annual fee: Capital One®Quicksilver® Cash Rewards Credit Card
Youare going to get a $150 cash bonus when you spend $500 on purchases within thefirst three months after you open your account. You will also be able to earn1.5% cash back from every purchase that you made. The card has no rotatingcategories or sign-ups needed before you can earn cash rewards and there is nolimit to how much you can make. There is zero percent APR on purchases for 15months on this card while you will then pay between 14.74 -24.74% APR afterthat. You will also have to pay a 3% fee for the amounts that are transferredwithin the first 15 months. The best thing about this card is that you will notpay an annual fee or foreign transaction fees.
Longest Introductory Period: Citi Simplicity
This is the bestcard for you if you are going to need more time to pay off a larger balance.There is zero percent introductory APR on purchases and balance transfers andit last for 18 months after which you will then have to pay a regular APRbetween 15.99 to 25.99% based on your creditworthiness. You will also have topay a balance transfer fee of 5% on each transfer amount. You can choose yourpayment due date anytime you want during the month. The best part with the cardis that it has no late fees, annual fee, and penalty rate.
Best for 5% Cash Rewards: Discover it
Thisis going to be a perfect choice for you if you want to earn rewards on creditcard after you have paid off your balance transfer. The card also has zeropercent introductory APR that lasts for 14 months on purchases and balancetransfers before you will then pay between the range of 13.99 to 24.99% afterward.The card has a balance transfer fee of 3% while you will also earn 5% cash backon up to $1,500 in purchases each quarter as long as you have registered onlineor through the mobile app. You will also earn 1% cash back on other purchaseswhile the cash back that you have earned will be matchedautomatically to you at the end of the first year as a new cardholder. You canalso freeze your account so as to prevent unauthorized use of your credit card.
Best for $0 liability: Wells Fargo PlatinumVisa® Card
This card has zero percent introductory APR on purchases and balance transfers for 18 months after which the APR rate is between 13.49 – 26.99% APR afterward. You will also qualify for intro rate and fee with the balance transfers that you made within 120 days. You will also get up to $600 protection on your cell phone against covered damage or theft if your monthly cellular telephone bill was paid with Wells Fargo Platinum. There is also a convenient tool that is going to help you to create a budget which manages your spending with My Money Map. It also has a zero percent annual fee.