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Best Zero Percent Balance Transfers (February 2011)

The offers on this page are out dated, you can find the latest news on the best zero balance transfers [3] here.

Once a month, every month, I’ll be providing an update on the “state of the balance transfer” on the first Thursday of the month. With the credit crisis abated and the economy recovering, a lot of credit card companies are resuming their credit card offers, including the once prominent 0% balance transfer [4]. In these monthly posts, I’ll keep you apprised on how the landscape has changed in the last month along with a look at some of the more prominent cards in each category.

In the last month, we’ve seen the introduction of a lot of cards with longer 0% APR periods. We’ve even seen Discover bring in a card with no balance transfer fee, a staple during the housing boom but something that has fallen out of favor as of late.

Your typical trade-offs are still there – longer 0% period or lower balance transfer fee? Discover has a 5% fee but a 24 month 0% APR period but Citi has a lower fee but only an 18 month 0% APR period. The right card for you depends on your balance and how quickly you think you can pay it off.

No Balance Transfer Fee

As far as I know, the only major credit card that’s offering a 0% balance transfer with no balance transfer fee is this Discover More Card. Not only do you get a 0% balance transfer for 12 months but you also get 0% introductory APR for 12 months on purchases, along with no balance transfer fee for a transfer made under this offer and with this application. This card is also part of the 5% Cashback Get More program and there is no annual fee.

Longest 0% Balance Transfer Period

The card may look like the one above but this one offers a longer balance transfer period but it comes with a 5% balance transfer fee.

4% Fee, 18 Month Transfer Period

Citi offers a card that sits in the happy medium in both the fee and period arena, a 4% fee coupled with an 18 month 0% Intro APR on balance transfer (plus 0% Intro APR on purchases for 12 months):