Best balance transfer credit card 0
Do balance transfers hurt your credit score? A balance transfer fee compensates a lender in this case, the credit card issuer for taking on the risk of issuing what amounts to a temporary interest-free loan. Consolidating debt is one of the smartest ways to get ahead of a mounting pile of bills that might have gotten away from you. Keep your old card open After youve made your balance transfer, keep your old card open.
Beware the APR on purchases Even the credit cards that offer an appealing 0 interest rate arent always so clear with their terms. Although its possible to pay off a loan with a balance transfer credit card, keep in mind that theyre best suited for managing smaller debts.
Thats a shorter 0 APR period than most of the cards on this list, but its still a great way to put your debt on hold and get some breathing room. How much can you save with a balance transfer card? You might experience a temporary dip in your credit score after you complete a balance transfer.
To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. How to choose a balance transfer credit card The best credit cards for balance transfers share a number of key features. The good news is that you have the ability to calm things down with the help of a balance transfer credit card. Introductory APR This is the most intriguing factor for many people drowning in debt.
Aspire Platinum Credit Card As you can see, most of the cards on this list require good to excellent credit. With such crippling figures, it isnt surprising that Americans are seeking a better way to handle their finances. Citi Double Cash Card Why we rate it best for cash back rewards The Citi Double Cash Card offers an inventive cash back rewards program on top of a generous 18-month 0 introductory balance transfer offer (13.99.99 variable APR after the intro period ends).
Although this fee is standard with most balance transfer offers, you might be able to avoid. It might be possible to transfer part of a large loan balance to a balance transfer credit card and get some relief from interest charges.
It should offer you the best combination of the most important factors including: Annual fee A balance transfer credit card that charges a high annual fee will invariably eat away at any savings you were hoping to glean from the lack of balance transfer fees. Sometimes, a card will offer you a low balance transfer fee with an astronomical interest rate. The choice category earns 3 percent cash back on one of the following categories such as travel, gas, dining, online shopping, drug stores or home improvement/furnishings and 2 percent on grocery store/wholesale club purchases each quarter (on the first 2,500 in combined. One, you can transfer a qualifying balance from another credit account and avoid APR for 15 introductory months, with the regular.49-24.99 variable rate applying afterward.
Youll get a decent 0 APR on balance transfers and purchases for the first 6 months you have your card. Credit utilization accounts for 30 percent of your credit score. If you are being choked by a suffocating interest rate, an offer that allows you to pay 0 interest for a limited amount of time can be incredibly enticing.
Wells Fargo Platinum card Why we rate it best for good credit This cards introductory balance transfer offer (18 months at 0 APR on qualifying transfers, then.49.49 variable based on creditworthiness) is among the longest available from our partners. See card details/apply or read our full Wells Fargo Cash Wise Visa card review. Is it worth the effort of applying, transferring, and reorganizing?