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Balance Transfer Credit Card


Balance Transfer Credit Card

You will often see offers for credit cards that have a very low rate for balance transfers. This means you can transfer your balance from one card to the new card and take advantage of a lower initial interest rate.

Sometimes these low initial rates for balance transfers will apply for 6 months or a year. Some cards apply the low rate for the life of the balance. Low interest rates will allow your payments to reduce more of your actual debt. So you'll be debt free sooner.

There are two considerations you need to be aware of regarding balance transfer cards:

  1. Many balance transfer cards require that you have good to excellent credit. They are, after all, accepting your unsecured debt at a low interest rate. This places them at risk, so they limit balance transfers to those they believe are good credit risks.

  2. Some banks charge a "transfer fee" that is a percentage of your balance. This may simply be another way to collect your money. Instead of charging interest over the course of a low or zero interest rate, they collect their money up front as a "transfer fee.".

You may want to check your credit report before you apply for a new balance transfer credit card, especially cards that require good or excellent credit. Check to see how many negative items are on your report. This will give you an indication of your chances for success.

Consider the following excellent balance transfer cards:

CitiBank - Citi® Platinum Select® Card
With the Citi® Platinum Select® card comes the added protection of Citi® Identity Theft Solutions, $0 liability on unauthorized purchases, and secure, free online account management.

  • 0% Intro APR* for 12 months
  • Balance transfer fee applies with this offer
  • No annual fee

Discover® Platinum Card
With the Discover® Platinum Card you can enjoy a 0% Introductory APR* for Purchases and Balance Transfers for 12 months and earn 5% Cashback Bonus® in popular categories that change four times a year like gas stations, restaurants, clothing stores, travel and more* and Up to 1% Cashback Bonus on all other purchases automatically*

  • 0% Intro APR* for Purchases and Balance Transfers for 12 months
  • 5% Cashback Bonus® in popular categories that change four times a year like gas stations, restaurants, clothing stores, travel and more*
  • Up to 1% Cashback Bonus on all other purchases automatically*
  • Unlimited cash rewards that never expire
  • $0 Fraud Liability Guarantee
  • Easiest online Account management options
  • No Annual Fee
  • DOUBLE your Cashback Bonus (turn $20 into $40) when you redeem for gift cards or certificates from many of our 70 brand name partners.

* View Rates, Fees, Rewards and Other Important Information.

Chase Platinum Card
Great Rates. Full Platinum Privileges. Apply Now for the Chase Platinum Visa® card with no annual fee. Consolidate your high interest credit card bills and save with great low rates. Transfer the balances from your higher interest rate accounts to your new Chase Platinum Visa Card and save money while receiving the Platinum privileges you deserve.

Save Money With:

  • 0% Interest*
  • No Annual Fee
  • Interest-free grace period when you pay your bill in full each month
  • Zero Liability on Unauthorized Purchases*
  • FREE Online Account Access
  • FREE travel services including Auto Rental Insurance and Worldwide Travel Accident Insurance

Citi - AT&T Universal Platinum Card
Now there's a card that offers more of the privileges you deserve—the new AT&T Universal Platinum Card. It gives you a 0% APR on balance transfers for 12 months*, so you have more ways to manage your finances and save. Plus, it comes with special benefits that make life a little easier.

  • 0% APR on balance transfers for 12 months*
  • No annual fee
  • 2 free directory assistance inquiries per month
  • Up to 30 free phone minutes per month, anytime, anywhere
  • Wireless phone loss and theft insurance reimbursement for replacement coverage
  • Citi® Identity Theft Solutions
  • Fraud Early Warning
  • $0 Liability Protection on unauthorized purchases
  • Balance transfer fee applies with this offer

*See terms & conditions

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Invest While You Are Young
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