Balance Transfer Credit Card
A balance transfer is a fruitful initiative to save on interest and accumulate all your debts to one credit card. This juggling of all your debts to one card also avoids multiple payments every month. However, you need to know the terms and conditions of the respective card to which you are planning to make a transfer. Every balance transfer card issuer has a distinctive set of guidelines and policies for various cards with 0% balance transfer rate for a specific period.
To help you better with the right decision on which card to choose for a balance transfer, here are the top 7 balance transfer credit cards in the market:
Citi Diamond Preferred Card
Annual Fees: $0
Intro APR on Balance Transfer: 0% for 21 months
Balance Transfer Fee: 5% of each transfer with a minimum requirement of $5
This card is one of the most rewarding balance transfer card that offers free of charge transfer for about 21 months. Once the period expires, the card comes with an additional balance transfer fee of about 5% on each transfer or $5, whichever is greater. The interest will keep on accruing until you pay all your debts including the debt that you transferred to the card.
Wells Fargo Platinum Visa Card
Annual Fees: $0
Intro APR on Balance Transfer: 0% for 15 months
Balance Transfer Fee: 3% or $5 whichever is greater for 18 months
This credit card is a good option for individuals looking for 0% APR for balance transfer and purchases. When transferring debts and paying down balances, you are at ease for 18 months. However, after that, you are charged about 3% of each transfer or $5, whichever is greater. The only drawback here is that this option is valid for only 18 months and after that, the balance transfer fee rises to 5% of each transfer.
Citi Simplicity Card
Annual Fees: $0
Intro APR on Balance Transfer: 0% for 18 months
Balance Transfer Fee: 5% or $5 whichever is greater
The Simplicity Card issued by CitiBank is known to be one of the best balance transfer cards with no penalty charges for late payment and no annual fees throughout the tenure of its utilization. It does have a variable APR that is purely based on your financial history and creditworthiness. There is a balance transfer fee of 5% on each transfer or $5, whichever is greater for all the transfers done after the intro period of 18 months. If used wisely, this card can prove to be one of the most rewarding credit cards for users looking on best purchases and balance transfers.
Citi Double Cash Card
Annual Fees: $0
Intro APR on Balance Transfer: 0% for 18 months
Balance Transfer Fee: 3% for minimum $5
This card from CitiBank offers a host of benefits at $0 annual fees with enticing APR on purchases and balance transfer. For 18 months, there is no transaction fee for a balance transfer, but after that, you are charged 3% with a minimum transfer requirement of $5. It comes with a flat-rate reward program, and you tend to enjoy 2% on all your purchases, 1% when you buy and 1% when you make the payment for your purchase.
Discover it Balance Transfer
Annual Fees: $0
Intro APR on Balance Transfer: 0% for 18 months
Balance Transfer Fee: 3% of the amount of each transfer
Discover it Balance Transfer card comes with $ annual fees and no foreign transaction fees. With the credit card, you tend to enjoy 5% cash back at various places like grocery stores, gas stations, restaurants, and Amazon whereas 1% on all other purchases. The card also offers benefits including zero liability for illegal purchases and the facility to lock or freeze your account if you have lost your card.
Blue Cash Everyday Card
Annual Fees: $0
Intro APR on Balance Transfer: 0% for 15 months
Balance Transfer Fee: 3% or $5 whichever is greater
Blue Cash Everyday Card is a rewarding credit card issued by the American Express. The card offers a 3% cash back on purchases made up to $6,000 at U.S. supermarkets, 2% cash back on gas stations and selective departmental stores in the US, and 1% on the remaining purchases. For 15 months you enjoy 0% APR on balance transfer and later the transfer fee rises to 3% or $5, whichever is greater. You also have the facility to enjoy the benefits of travel accident insurance, fraud protection, and roadside assistance.
U.S. Bank Visa Platinum Card
Annual Fees: $0
Intro APR on Balance Transfer: 0% for 20 months
Balance Transfer Fee: 3% or $5 whichever is greater
This card from the US Bank is an appealing card with 0% APR on purchases and balance transfer as an introductory offer for 20 months. After that, the transfer APR rises to 3% on each transfer or $5, whichever is greater. With this card, you behold the flexibility to choose your due date as per your convenience.
Conclusion
These are the best seven balance transfer credit cards. However, there are much more available in the market with exciting APR on balance transfer. All you have to do is analyzing the worthiness and fruitfulness of the card before actually ending up buying an excellent balance transfer card.
