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Best Zero Percent Balance Transfers (February 2011)

Posted By Jim On 02/03/2011 @ 7:42 am In Credit | 24 Comments

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.

  • Limited Time – No Balance Transfer Fee
  • Promotion only valid through February 28, 2011
  • 0% intro APR on balance transfers for 12 months, then the Regular APR
  • 0% intro APR on purchases for 12 months, then the Regular APR
  • 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
  • Up to 1% unlimited Cashback Bonus on all other purchases
  • 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.

  • Limited Time – 0% intro APR on balance transfers for 24 months, then the Regular APR
  • Promotion only valid through February 28, 2011
  • 0% intro APR on purchases for 6 months, then the Regular APR
  • 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
  • Up to 1% unlimited Cashback Bonus on all other purchases
  • No Annual 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):

  • 0% Intro APR on balance transfers for 18 months and 0% Intro APR on purchases for 12 months. After that, the APR will be 11.99%-20.99% based upon your creditworthiness.
  • Extra Cash from Citi: enjoy discounts on gift cards, travel, merchandise and more
  • Citi® Identity Theft Solutions
  • Secure, free online account management
  • No annual fee*

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[4] 0% balance transfer: http://www.bargaineering.com/articles/list-of-cards-with-0-balance-transfer-offers-for-12-months.html

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