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Askold Shcherbakov
Askold Shcherbakov

0 Apr On Balance Transfer


A balance transfer credit card can be a powerful tool in your debt-busting arsenal. A 0% APR offer on a credit card can save money by having all your payments go towards knocking out the principal balance instead of some being used to pay interest charges.




0 apr on balance transfer



The U.S. Bank Visa Platinum Card offers a very lengthy intro APR rate and no annual fee. There are two caveats, which are the balance transfer fee and the lack of a rewards program. Still, the savings on interest during the introductory period can eclipse the fee.


The Citi Double Cash card's simple cash back structure and long-lasting balance transfer APR offer make the Citi Double Cash a favorite among those who want to set it and forget it. It offers a solid cashback rate on all purchases and 0% intro APR on balance transfers, all without an annual fee.


Those looking to consolidate debt and pay it off over time will appreciate the long introductory offer on balance transfers. A $0 annual fee further enhances its frugal appeal. On the downside, this card is light on perks and comes with a heavy balance transfer fee.


The Citi Simplicity Card offers a very long intro APR offer for balance transfers, with the catch that each transfer incurs a fee. You'll also get an intro APR offer on purchases. However, there is no rewards program nor any welcome bonus, making this truly a "simple" card for those looking to hold a balance for a long period of time.


Balance Transfer Offer: Get a 0% intro APR for 18 months from account opening on purchases and qualifying balance transfers. An intro APR extension of up to 3 months with on-time minimum payments during the intro and extension periods is available. A 17.74% - 29.74% variable APR applies after that. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a balance transfer fee of up to 5%, min $5 applies.


Balance Transfer Offer: Get a see terms introductory APR for 18 billing cycles for purchases and balance transfers, see terms variable APR applies thereafter. Intro rate applies for any balance transfers made in the first 60 days; balance transfer fee of 3% applies to each transfer.


Balance Transfer Offer: Get a 0% intro APR on purchases and balance transfers for 18 billing cycles, followed by a variable APR of 19.24% - 29.24%. A balance transfer fee of either 3% or $5 applies, whichever is greater.


Balance Transfer Offer: Get a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 18.74% - 28.74%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5).


Balance Transfer Offer: Get a see terms introductory APR for 21 billing cycles for purchases, and for any balance transfers made in the first 60 days, a variable see terms thereafter will apply. A 3% fee applies to all balance transfers.


Most balance transfer cards require you to make your balance transfer within the first month or two of opening your account in order to qualify for their 0% intro APR offer. But the Citi Diamond Preferred Card has one of the most generous time periods of any card on the market, giving you four months from the date you open your account to transfer debt to the card.


Balance Transfer Offer: Get a 0% intro APR for 21 months on eligible balance transfers from date of first transfer and 0% intro APR for 12 months on purchases from date of account opening. After that, the variable APR will be 17.74% - 28.49%. Balance transfers must be completed within 4 months of account opening. A balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies.


Balance Transfer Offer: Get a 0% intro APR for 21 months on balance transfers from date of first transfer, and 0% intro APR for 12 months on purchases from date of account opening. After that, the variable APR will be 18.74% - 29.49%, based on your creditworthiness. There is an intro balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater, for transfers made within 4 months of opening the account. After that, a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies.


Balance Transfer Offer: Get a 0% intro APR on balance transfers for 15 months from date of first transfer and on purchases from date of account opening. After that, the variable APR will be 18.24% - 28.24%, based on your creditworthiness. An intro balance transfer fee of either 3% of each transfer or a minimum amount of $5 within the first 4 months of account opening applies. After that, the amount of each balance transfer will be 5% of each transfer (minimum $5) applies.


Balance Transfer Offer: Get a 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.49% - 28.24% applies. Intro balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days, after that either $5 or 5% of the amount of each transfer, whichever is greater applies.


Balance Transfer Offer: Get a 0% intro APR for 18 months from account opening on purchases and balance transfers, then a variable APR of 19.49% - 28.24% applies. An intro transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, applies on transfers made within 60 days of account opening. After that, a fee of either $5 or 5% of the amount of each transfer, whichever is greater applies


Not all balance transfer cards are created equally. To generate our list of the best balance transfer cards, Forbes Advisor reviewed dozens of credit cards with balance transfer options across a broad spectrum of issuers.


A balance transfer lets you save on existing high-interest debt by transferring your balance to a card with a lower interest rate or, better yet, one with an introductory 0% APR offer on balance transfers. Sometimes there is a balance transfer fee to move debt from one card to another, typically between 3% to 5% of the amount being transferred.


A 0% balance transfer is when you shift debt to a card offering a promotional 0% interest rate on the amount that you transfer. This can save you money as any payments you make toward the balance on a 0% card will go entirely toward paying down the principal while the intro period lasts, instead of toward additional finance charges that have accrued over time.


Since most (but not all) credit cards come with balance transfer fees, it typically only makes sense to make this move if the new card has a lower interest rate than your existing debt or comes with a low or 0% promotional offer.


For example, American Express says it typically takes from five to seven days for a transfer from another bank to be completed but it could take as long as six weeks. Citibank says on its site it can take from two to 21 days and Chase says most transfers are complete within two weeks.


A 0% balance transfer works the same way as any other balance transfer. After you choose the card with an introductory 0% APR balance transfer offer, you can opt to make the transfer during the application process, or reach out to someone at the issuing bank to shift a balance to the new card.


Opening a credit card should be treated as a major financial decision. Carefully selecting the best balance transfer cards for you comes with many questions and challenges and the more time you have to make this decision, the better. Lucky for you, Forbes Advisor offers a multitude of resources to help you not only choose a card, but make the most of it.


Another consideration: Will the card provide any useful perks or rewards after your balance transfer is paid off? Cards including the Citi Double Cash, for instance, provide a lengthy balance transfer period and rewards.


In a recent Forbes Advisor survey 22% of respondents were somewhat or very unconfident that they could pay off their credit cards in full and on time. This group may be well served by considering a balance transfer credit card which would allow them to pay off those balances while saving on interest.


If you have a plan to use a balance transfer to help you pay down your debt more quickly than you could without doing a transfer, in the long run, your overall debt load will be lower and that will in turn have a positive impact on your credit score.


Balance transfer business credit cards function in the same way as personal balance transfer cards. Before making a transfer from one business credit card to another, consider the terms of the offer, how long any introductory APR offer will last as well as any balance transfer fees you may incur.


But a balance transfer credit card is the exception to that rule. If you can transfer a balance from a high-interest credit card to one with a 0% APR offer or even a lower ongoing interest rate, you can save money.


Carrying a large debt on your credit cards can feel like an endless predicament. You scrape together the largest payment you can afford each month, but watch a large part of your cash go toward interest, while your original balance decreases by a teeny fraction. A card with a 0% balance transfer offer could be a lifesaver, since 100% of your payment goes to whittling down your balance.


The best balance transfer credit cards below have 0% intro APR periods from 12 to 21 months, reasonable balance transfer fees and no annual fees. Some of the cards in this list will even let you enjoy an interest-free period on balance transfers through 2024.


Why we picked this card: A lengthy intro APR gives you more time to pay off your balance, and the no-annual-fee Wells Fargo Reflect Card features one of the longest. It also offers a lengthy intro APR on purchases. 041b061a72


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