Balance Transfer Credit Cards from Our Partners
Editors Rating: 4.5/5
Check out these great promotional deals on credit cards for 2014 with low introductory balance transfer offers
These credit cards offer an introductory zero percent or low balance transfer promotion for qualified customers. Many of these no-annual-fee offers are only available for a limited time, so the time to take advantage of them is now.
Introductory balance transfer offer credit cards offer you the opportunity to trade a high interest rate on an existing credit card debt balance for no or low interest payments on a new card. Sound too good to be true? It's not. Introductory balance transfers are legitimate credit card offers that can greatly benefit certain customers. The keys are knowing what to look for in a balance transfer offer, and how to use one effectively so you don't get deeper in debt.
But a balance transfer credit card will likely make more sense than a cash back rebate, travel or gas credit card, since any reward benefit from those cards would likely be quickly eaten away if you revolve your balance. However, it's important to understand that these credit card offers have features that differ considerably from one card to the next. Also keep in mind that an offer that makes sense for one customer's situation might be a bad idea for another customer.
The better you understand balance transfer offers, the greater your chances of making them work to your advantage.
Elements of balance transfer offers
An introductory balance transfer offer allows you to take an existing balance from one credit card, and transfer it to the new card while paying no or low interest on that balance for a specified period of time. As straightforward as that sounds, there are a number of variables involved in these offers:
- The introductory balance transfer APR period. The period for which the credit card will offer no or low is limited, and that time limit can vary from one offer to another.
- The balance transfer fee. The credit card may be charging no interest on those transfers, but there is usually a one-time, upfront fee for making the transfer.
- Interest rate on new purchases. Even though balance transfers will have no or low interest for a while, interest on new purchases may kick in immediately.
- Interest rate on transferred balances. Eventually, those balances will start to be charged the standard or on-going interest rate.
- Credit limit. As with any credit card, there will be a limit on how much you can charge, and your balance transfers will immediately cut into this limit.
- Miscellaneous fees. Be aware of any other fees the credit card charges.
Be sure you get information on all these variables before acting on any balance transfer offer.
When it makes sense
Balance transfers make the most sense when they are part of a plan to reduce your credit card debt over time. If you have been carrying a balance, gaining a temporary reprieve from higher interest rates on that balance can certainly make it easier to pay down principal.
Ideally, if you can time your schedule for paying down your balance so that it coincides with the introductory balance transfer period on the card, you don't have to concern yourself with what the balance transfer interest rate will be once it kicks in. The longer the introductory balance transfer APR period, the more time you have to pay down your debt before you start racking up interest.
What to watch out for
Here are some things to be concerned about when considering an introductory APR balance transfer offer:
- Very short pay-down periods. If you are planning on paying off the balance in a few months, the balance transfer fee might exceed the money you save on interest.
- Very long pay-down periods. At the other extreme, if you don't have a realistic plan for paying down your balance by the end of the introductory balance transfer APR, then you might ultimately find that you've traded up to a higher interest rate. Also, you'll simply be shuffling your debt around rather than really addressing it.
- High new purchase interest rates. If the interest rate for purchases on the new card is significantly higher than on your old card, you'll want to make sure you don't diminish the savings on the balance transfer by racking up more expensive new charges.
Taking the next steps
If you think you can benefit from an introductory APR balance transfer offer, here are some steps for moving forward:
- Do some comparison shopping before you apply. Use the resources on IndexCreditCards.com to compare offers. Remember that turning in a credit card application can affect your credit score, so be selective about applying for cards.
- Figure out a game plan for paying down your balance. Use the low or zero percent interest period as a deadline for your debt reduction plan.
- Make your transfers on time. The introductory APR balance transfer offer may apply only to transfers made shortly after the card is activated, so make sure you don't miss your opportunity.
Used properly, introductory APR balance transfer offers can be a good tool for reducing your credit expenses. Make sure to do your research and find the best balance transfer option for you. This in turn can help with the ultimate goal of paying down your credit card debt.
Here are a few offers that have a low introductory APR balance transfer offer:
- 0% intro APR on balance transfers for 18 months--then a variable purchase APR applies, currently 10.99% - 22.99%. A 3% fee applies to each transferred balance.
- 0% intro APR on purchases for 6 months. Then the variable purchase APR applies, currently 10.99% - 22.99%
- Over 5,000 cardmembers rated 4.8 out of 5 stars* and now Discover "Ranked Highest in Customer Satisfaction with Credit Card Companies in a Tie" by J.D. Power+
- 5% cash back for online shopping and department store purchases on up to $1,500 - Oct. through Dec. 2014 when you sign up for 5%*. 1% cash back on all other purchases.
- Free FICO® Credit Score online and on monthly statements.*
- No annual fee, no late fee for your first late payment - APR won't go up for paying late, no overlimit fee and no foreign transaction fee.*
- Each Discover purchase is monitored. If it's unusual, you're alerted by e-mail, phone or text and never responsible for unauthorized Discover card purchases.
- *See rates, rewards, free FICO® Credit Score terms,balance transfer terms and other info by clicking "Apply."
- Earn 20,000 bonus miles when you spend $1,000 on purchases in the first 90 days - that's enough to redeem for a $200 travel statement credit
- Earn 2X miles on travel and dining and 1X miles on all other purchases
- Miles don't expire as long as your account is open, active and in good standing
- Get 10% miles back to use toward your next redemption every time you redeem for travel statement credits
- No foreign transaction fees on anything you buy while in another country
- 0% introductory APR for 12 months for each Balance Transfer made within 45 days of account opening. After that, a variable APR currently 14.99% or 18.99%, depending on your creditworthiness.
- Complimentary online FICO® Credit Score access for Barclaycard Arrival Cardmembers
- No annual fee
- Earn 2 points per $1 on gas, grocery, and utility purchases and 1 point per $1 everywhere else
- Use the points you earn like cash to pay for almost any purchases you've made.
- No redemption fees, no limit on the points you can earn and no complicated set up.
- Reports to all 3 major credit bureaus monthly providing you the opportunity to rebuild your credit score
- Complimentary FICO® Credit Scores as a benefit to active cardmembers. Opt-in to have instant and convenient access to FICO® Scores from your Barclaycard online account.
- No Balance Transfer Fees - start saving immediately!
- A low 8% variable APR on balance transfers and purchases
- No Annual Fees
- Choose your card benefits and features
- Get rewarded through the new Giveback™ program, where Barclaycard Ring members get money back for good performance
- Get exclusive access to our online community and vote on the card features you like and view the financials of the Barclaycard Ring MasterCard online
- Learn more about personal finance from Barclaycard and other members
- Complimentary FICO® Scores as a benefit to active cardmembers. Opt-in to have instant and convenient access to FICO® Scores from your Barclaycard online account.
- No annual fee
- No foreign transaction fee
- No balance transfer fee
- No late fee
- No penalty APR
- APR for Purchases - 7.49% introductory APR for 36 months. After that, your APR will vary with the market based on the Prime Rate, and is currently 9.99%.
- APR for Cash Advances - 9.99%. Your APR will vary with the market based on the Prime Rate.
- APR for Balance Transfers - 4.99% promotional rate for 12 Months on transfers made from November 01, 2014 through December 31, 2014 with no balance transfer fee. After that, the APR for the unpaid balance and any new balance transfers will vary with the market based on the Prime Rate, and is currently 9.99%. This transaction is subject to credit approval.
- Chip Enabled for Added Security
- Earn 10,000 bonus points after $500 in purchases in the first 90 days, enough to redeem for a $100 cash back statement credit
- 0% promotional APR for 6 months on ALL ticket purchases from a team ticket office. After that, a variable APR currently 14.99%, 19.99% or 24.99%, based on your credit worthiness
- Earn 2 points per $1 on NFL or team purchases - game tickets, in-stadium and at team Pro Shops - and 1 point per $1 on all other purchases
- 20% off every purchase at NFLShop.com - that's $20 off every $100 you spend
- Redeem points for VIP NFL experiences, game tickets or 1% cash back statement credits beginning at 2,500 points for a $25 statement credit
- All 32 team cards are available, customized with your favorite team's colors and logo
- 0% introductory APR for 15 months on balance transfers made within 45 days of account opening. After that a variable APR, currently 14.99%, 19.99% or 24.99%, based on your creditworthiness
Other Balance Transfer Cards to Consider
Let us know if you have any favorites.
"As comprehensive a list as you'll find of all the credit card offers on the table now."