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 0% 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.
Top 0% balance Transfer Credit Cards
You can click on each respective card for more details or see the following list for more balance transfer offers:
Best overall 0% balance transfer card (12 months): I found the Discover® More® Card to be the best option for my needs because it has the most flexible cash rewards program and a 12 month balance transfer offer at 4%. Some of the other cards may offer a better cash back on certain categories, but the Discover® More® 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® Card.
Longest 0% balance transfer offer (15 months): The Citi® Platinum Select® MasterCard® offers a 0% Variable APR* on balance transfers and purchases for up to 15 months. This makes it a great card for people who want the longest balance transfer term or whish 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.
Runner-up 0% balance transfer card (6 months): The Discover More American Flag Card is similar to the Discover® More® Card, but it offers a 6 month balance transfer offer with a 3% balance transfer fee. If you can eliminate your credit card debt in less than 6 months, the Discover More American Flag Card at 3% balance transfer fee is a better offer. Otherwise, go for the longer term at 4%. The Discover More American Flag Card also 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 Discover® More® Card is the length of the balance transfer term and the fees. Sign up for the Discover More American Flag Card.
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® Card: The Discover More Card offers 0% for 12 months with a 4% transfer fee. Rates start at 11.99%. Cash rewards card; up to 5% cash back on select items, 1% on all other purchases.
- Discover® More® Card – Shamrock: 0% APR on Balance Transfers for a FULL 12 months, 3% transfer fee, 0% APR on Purchases for a FULL 9 months; up to 5%cash back on select items, 1% on all other purchases..
- Discover More American Flag Card: 0% for 6 months, 3% transfer fee, Rates start at 11.99%. Cash rewards card; up to 5% cash back on select items, 1% on all other purchases.
- Citi® Platinum Select® MasterCard®: 0% APR* on balance transfers and purchases for up to 15 months, 3% transfer fee, Rates are as low as 11.99% variable. No rewards benefits.
- Discover® More® Card – Monogram: 0% APR on Balance Transfer for a FULL 12 months, 2.99% introductory APR. Up up 5% cash back, unlimited 1% on everything else.
- 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.
- Bryant State Bank MasterCard®. 3.25% introductory APR for 6 months, no transfer fee.
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.
{ 7 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.
A while back American Express Clear offered 3.9% balance transfer for the life of the trasfered balance. This was perfect for me to pay off my 10k plus in other credit card debt. The only downside I’ve seen is that they will not allow you any additional balance transfer options on any of their cards until you pay off the current loan. Unfortunately I didn’t learn the first time and need a new balance transfer option for a Chase Visa that has jumped from 17.99 percent to 39.9 percent in the last 12 months and there are very few companies these days making any comparable offers. Those that are look very carefully at your history and often times closing accounts with an existing balance like I’ve had to do looks horrible. It took my credit score from a 720 down to a 600 flat. To add insult to injury many companies are lowering credit limits to match your current balance just to keep themselves protected. This also looks bad as it appears you’ve extended or at least closed in on your max credit limit for all cards. A double whammy if you will. Not sure the answer but I hope with this legislation new oversight all americans will begin to tell these companies where to go and begin to operate on cash only. THats the only thing we can truely do to begin to hurt these companies who pray off the consumer.