0% Balance Transfer Credit Cards

Is your credit card failing to stack up against the competition? With the economy on the rise, and thousands of consumers looking to increase their spending due to higher incomes, credit cards are becoming a financial powerhouse once again. With hundreds on offer, each offering something a little different to consumers, finding your dream card can be a lengthy and difficult process.

In fact, it’s so difficult – largely due to the incredible amount of variety available – that many of today’s consumers fail to find their ideal card. Aiming to save time and limit stress, they pick the first card that comes their way. While this is great for keeping your time commitment short, it’s a potentially expensive choice. Over time, that poor choice in credit cards can become quite costly.

This is because many credit cards have high interest rates, particularly those that are most heavily marketed by banks. Many others have high fees. Others have limited or no cash back options, and even more still have little in the way of consumer support. In short, cutting your credit card search short isn’t always a good idea. In fact, it’s often quite the opposite – a costly, difficult mistake.

Thankfully, there’s an alternative option out there. When you find your ideal card, you’re free to transfer the balance of your old credit card over to it. Known as a ‘balance transfer,’ it’s a simple procedure that allows you to shift your debt elsewhere, limiting your total credit card interest on most purchases. Unfortunately, it’s also an action that triggers an often expensive card charge.

In this guide, we’re going to look at 0% balance transfer credit cards, cards that have a zero rate of interest on balance transfers. This allows you to transfer your debt from one card onto another for a certain amount of time, all without any interest developing on your account. A simple deal that’s an absolute hit with consumers, we’re going to look at everything you need about balance transfers.

Let’s begin with availability. Just as almost all credit card issuing banks offer a low-interest card, a high-limit – of even no limit – card, and a cash back credit card, many now offer a zero percent card for balance transfers. These cards are available through the ‘big three’ credit card companies such as VISA, Mastercard, and American Express, along with smaller providers such as Diner’s Club.

At the top of the charts, particularly in terms of overall consumer value, is Citibank. With the well-known Platinum Select Card on its roster, Citibank offers a grant total of twenty-one months of no-interest balance transfers to new customers. This amounts to almost a year or no interest payments, allowing consumers to quickly and reliably transfer over their credit balance to a Citibank card.

Citibank also offers a range of perks on their balance transfer credit cards. The Platinum Select has a range of cash-back options, including bonus points earned on many purchases. In exchange for an amazing credit card, however, consumers need to have strong credit. For people with credit ratings that aren’t amazing, there’s always the Diamond Preferred card, also available through Citibank.

Other credit card issuing banks include Capital One, with a twelve-month interest free balance transfer period on all of their new cards. While not as helpful for consumers – particularly when rewards are concerned – as Citibank, Capital One’s credit card selection is strong. Many of their cards have low or no interest following the twelve month period, along with earnings points.

All of the above listed 0% balance transfer credit cards are processed through Mastercard’s credit card network, allowing for peace of mind and reliable consumer protection for customers. If you would prefer an alternative card, a number of cards are available through American Express. One competitively priced and easily available option is the American Express Gold or Green card.

Both of these cards have cash back options, earnings-based points, and of course, balance transfer periods where no interest is paid on the card’s balance. As American Express issues their own card accounts independently, their offerings can differ from one country to another. Check with a local card issuer to find out about what zero-percent balance transfer credit cards are available for you.

Discover and Chase also offer zero-percent balance transfer cards, both of which offer interest free periods of fifteen months for consumers. Designed to appeal primarily to low-spending consumers, the majority of these cards are not designed with businesses in mind. As such, they have relatively low credit limits, and are designed to deal with consumer spending and small purchases at most.

As far as business 0% balance transfer credit cards, both Citibank and Chase offer a variety of top-tier options. Small businesses may be able to find credit cards with both balance transfer features, a cash back or credit point system, and other major perks. The majority of these cards are issued with MasterCard, although American Express also offers their own range of small business cards.

Whether for your business or your personal life, your casual spending or your major purchases, it’s always smart to keep a balance transfer credit card in your wallet. Should you need to diversify and spread your credit, or simply extend your repayment period, a balance transfer credit card is often the easiest, least expensive, and most consumer-friendly way to repay your credit card debts.