Best 0 APR Balance Transfer Credit Cards
Without question, if you carry a balance on one or more credit cards from one month to the next then you are probably paying a substantial amount of money in interest. While it would be ideal to pay down the principal in full and no longer owe interest, sometimes that just isn’t possible.
You most certainly can, however, take steps that will ensure that you are paying the least amount of money possible in monthly interest when you take advantage of the best 0 APR balance transfer credit cards.
By allocating more of your payment dollars toward the principal you will put yourself in a much stronger financial position. This can be done by taking advantage of balance transfer offers with 0% introductory rates.
There are several balance transfer credit cards on the market today and some are better than others. It really all comes down to what exactly you are looking to accomplish. Right now Discover credit cards, Chase credit cards and American Express credit cards offer some excellent 0% introductory transfer cards.
Depending upon the specific offer the 0% introductory rates will last between 6 months to 12 months. Many of the best 0 APR balance transfer credit cards will also feature a 0% introductory rate on new purchases as well.
There are other factors that must be taken into account when shopping for credit cards outside of promotional rates. Chief among them are the interest rates when the intro offer expires, and the fees.
As we all know introductory rates are just that, introductory rates. Carefully understand the terms and conditions of the offer so that you will know exactly what the interest rates will be once the introductory period ends.
When it comes to interest rates the lowest rates will always be given to the cardholders with the best credit history. Even though you may qualify for approval, that doesn’t necessarily mean you will automatically get the lowest rates so keep that in mind.
In addition, fees come in many forms including balance transfer fees. Even the best 0 balance transfer credit cards will have fees, typically ranging between 3% to 5% of the amount to be transferred. As always, carefully read the terms in the disclosure statement and if you have any questions contact the credit card issuer directly.
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