By now, we all know how balance transfers can make a huge difference in the bottom line of our finances. These credit cards that offer a lower APR and the opportunity to transfer balances from higher APR cards can make a huge difference in a number of areas, including how long it takes to pay a balance off, how much we ultimately spend in finance charges and even the monthly minimums for those difficult months when our income falls short of expectation.
Still, not all balance transfer credit cards are created equally. There are a host of factors that go into each offer and in order to take maximum advantage of these opportunities, we must carefully select the one that’s best going to serve our purposes. So, with that thought in mind, here are a few of the highest ranked balance transfer credit cards for you to consider.
We’ll tell you about the benefits, the intro APR offers, the annual fees and any other benefits or drawbacks for each offer. Once you’re armed with the right information, making your decision doesn’t have to become and overwhelming burden. As always, we strongly encourage anyone who’s shopping for a new credit card to carefully review the terms and conditions of every offer before you make your decision.
Impressive APR Intro Periods
You might be surprised to learn that a 0% APR will vary in its applicability from one credit card to another. One offer might have a six month intro while another similar credit card might extend a 36 month (or longer) intro APR. When you’re looking for ways to consolidate your debts, this information is a powerful tool.
The Chase Slate Vertical Card with Blueprint
This credit card offer has several perks, including an intro period with 0% APR for up to fifteen months. After that, your APR can be as low as 11.24% (though keep in mind, there are several economic factors that might affect any APR rate after the intro rate expires).
Other Chase Slate credit card perks include no annual fee and the Slate with Blueprint’s many financial tools designed to help you save money each month. You’ll incur a 3% transfer fee, though this is in line with other comparable credit card offers.
Discover More Card
Another 0% intro offer, this time, courtesy of the Discover Network, allows you to transfer your balances with no APR for the first fifteen months. After that, the rate reverts to anything between 11.99% and 20.99%. You’ll also enjoy up to 20% cash back bonuses at select retailers when you use your Discover More card to shop online. This credit card also has no annual fee, making it an attractive consideration for many. Use your card, too, to purchase gas, groceries or at home improvement stores for up to 5% cash back.
Simmons First Visa Platinum Rewards Credit Card
This credit card will require excellent credit ratings to qualify. While there’s no 0% APR intro rate, there’s also no transfer fees for you to worry about. Easily transfer balances online or via phone. There are also no bonus points with this offer, though there exists a rewards program which is similar to many other credit card offers.
It’s considered a universal rewards card, meaning its applicable to most anything you wish to apply them to, including travel points. Simmons First Visa cardholders enjoy complimentary travel accident insurance, emergency cash and card replacement.
Starwood Preferred Guest Credit Card
While this particular card offer doesn’t not include a 0% APR offer, you can take advantage of transferring your balances wit only a 2.9% APR. The network, American Express, has team with Starwood hotels for this co-branded credit card. Along with easy balance transfers, this is also a favorite credit card for many who travel. Rest easy knowing your credit and other financial information is stored securely and with the latest technological advances. You’ll also receive an instant decision when you apply online for the Starwood Preferred Guest card.
These are but a few of the balance transfer credit cards available on the market today. With more banks and companies competing for your business, it’s worth the extra time to research each offer before you select one. Those extra few minutes can affect you and your budget for many months and years.
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