The easiest way to reduce costs associated with paying credit card bills is to apply for a lower interest rate. However, if a card company isn’t willing to lower a rate, the best way to enjoy lower payments is to investigate balance transfer opportunities. To snag new customers, many card companies offer terrific deals for balance transfers that may offer a 0% interest rate for a short time along with no fees charged during for the transfer. The following credit cards provide the best balance transfer options with zero or low fees and excellent introductory interest rates of 0% for several months.
1. Chase Slate card
Deal: 15 months of introductory 0% APR plus no balance transfer fee
Why it’s great: The Chase Slate card is one of the only credit cards offered today with no fee charged for a balance transfer. Most cards charge somewhere between 3% and 5%. In addition, the Slate card doesn’t have an annual fee associated with an account. Additional purchases may be made during the introductory period that also benefit from the 0% introductory APR. Apply Here
2. Discover it card
Deal: 14 months of introductory 0% APR
Why it’s great: With its “Discover it” card, Discover offers card holders over a year to pay off a transferred balance and also doesn’t charge a late fee for the first late payment and never charges over-the-limit fees. In addition, Discover has increased the number of local customer service representatives and promises users of this card the opportunity to talk to a United States-based customer service representative. There is also no annual fee with this card.
3. Citi Simplicity card
Deal: 18 months of 0% APR plus zero transfer fees
Why it’s great: The Citi Simplicity card doesn’t charge over-the-limit fees nor are there any late fees charged for missed payments. No other card offers as much time to pay off a transferred balance before interest charges impact the account. Card holders may also make additional purchases during the introductory period without any interest charges levied, and there is also no annual fee for the card. Apply Here
4. Capital One Platinum Prestige card
Deal: 0% APR until November 2014
Why it’s great: One of the best features of this Capital One card is the low variable APR that will kick in after the introductory period is complete. Most cards have a variable or fixed rate that is above 20%, but the Capital One Platinum Prestige card has a regular rate that won’t go over 18.9% and might be as low as 10.9%. There is also no minimum transfer requirement, so a card holder doesn’t need to have a lot of credit card debt to benefit from this offer. Apply Here
5. Citi Diamond Preferred card
Deal: 18 months of introductory 0% APR
Why it’s great: With a full year and a half to pay off a credit card, users of the Citi Diamond Preferred card may take advantage of a leisurely payment schedule before any interest charges are applied to the transferred balance. This card also offers a variety of exceptional perks like help getting tickets to sports events or concerts, as well as assistance to find special deals on hotel stays and airline flights. Apply Here
6. Citi Dividend Platinum Select card
Deal: 12 months of introductory 0% APR
Why it’s great: Although card holders don’t have as long an introductory period to pay off balances on this card when compared to other options, there is an available cash back rewards program. Card holders get 1% cash back on all purchases and may also receive up to 5% cash back on a unique category every few months. Apply Here
Each of these cards offers a variety of lengthy introductory periods and also makes it easy to enjoy other credit card benefits, like cash back opportunities and additional purchases made with 0% interest. Choosing the best card will come from a combination of a money-saving introductory offer plus attractive card features.