Find Out The Best Credit Card For Balance Transfers
If you’ve been keeping up with our blog, you know we recently talked about all the important things you need to consider and bear in mind when looking for a new credit card to transfer balance when dealing with your debt situation. Today we compare the top credit cards in the market to determine the absolute best one for balance transfer. Read on to find out which ones cut.
Chase Slate Credit Card
A credit card that has previously been included in the 2013 crowning of best credit cards offers by Forbes – Online it has some striking features to consider for potential customers. Let’s list out all the reasons why this credit card is on our list:
- This credit card offers a 0% introductory Annual Percentage Rate for all its new customers.
- This zero percent introductory APR is applicable for an initial period of 15 months on all balance transfers.
- After the introductory period ends, a variable APR of 12.99% or 17.99% or 22.99% is applicable.
- An introductory 0% APR on all purchases for 15 months
- It has an initial balance transfer fee of $0 for the initial 60 days upon opening of an account
- After the initial two month period, a balance transfer fee of 3% of the amount transferred is applicable in the future.
- The minimum amount of balance transfer is $5
- No annual fee.
Overall a good deal with a decent amount of time to pay off balances without incurring additional interest charges. What’s more is that this option is available for customers with an average to good credit score and history.
Discover it Credit Card
The Discover it- 18 Month Balance Transfer is a great credit card for customers that are looking for a card that offers both, a lower interest rate as well as additional rewards and cash back. Here is all the others reason that makes this credit card one of the best options available to anyone in the market for a new credit card:
- A zero percent introductory Annual Percentage Rate on all balance transfers for all customers valid for 18 months, as stated by the name of the card itself.
- A zero percent introductory Annual Percentage Rate for all customers on all purchases for six months.
- A variable APR between 10.99-22.99% after the initial period on balance transfers and purchases, although a 3% fee is applicable on all balance transfers.
- No annual fee.
- No late fee for the first payment or will there be any change in APR on late payments.
- No over limit charges nor any Foreign Transaction Fees
- A 5% cash back at gas stations, travel, groceries, and up to $1500 on all purchases from July through September 2014
- 1% cash back on all other purchases
- Free Fico Credit Score online and monthly statements
- 100% U.S based customer service 24/7
What takes the cake and makes Discover it- 18 Month Balance Transfer the card to consider is that in addition to considerably low-interest rates apart from the initial introductory period and rewards and bonuses offered, no cardholder will have to pay for unauthorized purchases thanks to the $0 fraud liability guarantee. The only possible downside of this card seems to be the demand for excellent credit score and history with an average score of 741 needed for approval of this card. That said this credit card makes an excellent choice for customers carrying a monthly balance or those who are interested in making a large balance transfer.
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