If you carry a balances on your credit cards, then you might want to consider signing up for a 0% balance transfer credit card offer and transferring that credit card debt to a zero percent interest rate. If you carry a balance, a zero percent interest rate can save you hundreds, if not thousands of dollars over the duration of the 0% balance transfer offer.
How to evaluate 0% balance transfer credit card offers
Not all offers are created equally, as you will see below. You will want to evaluate each card individually and make sure you understand the credit card offer. Some important things to look out for include:
- Duration of balance transfer offer. Most cards offer 6 – 12 months at 0%.
- Balance transfer fees. Most fees range from 0% – 3%, or a fixed price, such as $75.
- Interest rate. This only matters if you plan on using the card after you pay off your balance.
- Rewards and cash back. Depending on your needs, you may want to consider credit cards with sign up bonuses, rewards bonuses, cash back cards, points cards, or special features, such as travel cards or gas rebates.
Best zero percent balance transfer credit card offers
Here are the best 0% balance transfer credit card offers, based on the criteria listed above.
- Discover More American Flag Card. The Discover More American Flag Card offers 0% for 12 months with a 5% transfer fee. Rates start at 11.99%. Cash rewards card; up to 5% on select items, 1% on all other purchases.
- Discover® More(SM) Card: 0% for 6 months, 3% transfer fee, Rates start at 11.99%. Cash rewards card; up to 5% on select items, 1% on all other purchases.
- Citi® Platinum Select® MasterCard®: 0% for 6 months, 3% transfer fee, 0% interest on purchases for 6 months, Rates are as low as 11.99% variable. No rewards benefits.
- Miles by Discover® Card: 0% for 6 months, 3% transfer fee, Rates start at 11.99%. Travel rewards card; 12,000 Bonus Miles – 1,000 Miles Each Month You Make a Purchase for the First 12 Months.
- Escape by Discover® Card: 0% for 6 months, 3% transfer fee, Rates start at 11.99%. Travel rewards card; 25,000 Bonus Miles* – 1,000 Miles Each Month You Make a Purchase the First 25 Months.
- Discover® Motiva(SM) Card: 0% for 6 months, 3% transfer fee, Rates start at 11.99%. Cash rewards card; Earn 5% to 20% Cashback Bonus® at Top Online Retailers* and up to 1% on all other purchases.
- Citi® mtvU™ Platinum Select® Visa® Card for College Students: 0% APR on Purchases and Balance Transfers for 6 Months, If You Qualify, Based on Your Application and Credit History. 3% balance transfer fee, APR as low as 17.24% V after introductory period. Unique student rewards program that rewards students based on on-time payments, not exceeding limit, and good grades.
As you can see, most of these cards offer some form of cash back or rewards, which makes them a nice option to use after you pay off your balance transfer.
Best overall balance transfer card (12 months): Of these cards, the Discover More American Flag Card is the best balance transfer card for people looking for the longest 0% balance transfer term. The Discover More American Flag Card offers up to 5% cash back on purchases, 0% interest on purchases for the first 6 months, and no annual fees. It also offers 1% cash back on almost all other purchases, making this card not only one of the best balance transfer cards on the market, but one of the best cash rewards credit cards on the market. The main difference between the Discover More American Flag Card and the other Discover More Cards is the length of the transfer term and the fees. The term is good for 12 months and the fee is 5%. If you can eliminate your credit card debt in less than 6 months, than the Discover More Card at 3% balance transfer fee is a better offer. Otherwise, go for the longer term. Sign up for the Discover More American Flag Card.
Best overall balance transfer card (6 months): I found the Discover® More(SM) Card to be the best option for my needs because it has the most flexible cash rewards program. Some of the other cards offer a better cash back on certain categories, but the Discover® More(SM) Card offers a flat 1% on all purchases, with some bonus categories at up to 5% cash back. As an additional bonus, you can get a $50 cash bonus when you spend $599 within your first 3 billing cycles. Sign up for the Discover® More(SM) Card.
Best 0% balance transfer offer if you want to use the card while paying off your balance transfer: The Citi® Platinum Select® MasterCard® offers a 0% balance transfer rate for 6 months, plus 0% interest on purchases for 6 months. This makes it a great card for people who want to continue making purchases while paying off their current debt at a 0% interest rate. However this card does not offer any specific rewards programs. Sign up for the Citi Platinum Select MasterCard.
You can click on each respective card for more details, or check out more balance transfer credit cards at CardOffers.com.
{ 6 comments… read them below or add one }
you need to show the card(s) with a cap on transfer fees
Caps on balance transfer fees are becoming very rare nowadays.
The Discover More card is a great card of balance transfers. Of course, balance transfer card offers can change often so always be sure to read the fine print before applying.
i am interested in zero percent financing
If I already used citi and discover’s 0% offer, can I still apply for another 0% balance transfer with one of them? are there other cards available?
Hello ph, yes, you can apply with other cards and may get approved as long as your credit score supports adding another line of credit. This varies from person to person, so I can’t tell you if you will be approved or not. You can also check out the Chase Freedom rewards credit card, which has great benefits and a $50 bonus on the first purchase.