There are many great deals on offer today for balance transfer cards. However, not all zero percent balance transfer cards are the same. For instance, some cards only offer low introductory zero interest rates for a limited time. The result a current buyer’s market when it comes to getting a balance transfer credit card that will not only help users build credit, but also consolidate debt with great savings on interest payments. We reached out to Steven Moore, with bestcreditcards.co a comparison portal that offers in depth card reviews, to help identify some of the top promotions this summer.
Top balance transfer card perks
When consolidating credit card debt – in this day and age when there are so many great deals on offer – one of the first things that pops-up is interest rates. For instance, Chase is leading the pack this summer with its Chase Slate credit card that is trending now for applicants wishing to consolidate their debt onto one interest friendly credit card. The Chase Slate balance transfer deal is all about paying less interest overall; while also saving on balances and new charges. In addition, Chase has reduced or kept its interest rates on five of its top travel rewards cards this summer to the national average annual percentage rate (APR) of 15.99.
Moreover, Chase Slate features a zero introductory balance transfer fee for “all transfers made during the first two months,” states the Chase website. The zero introductory rates for new Chase Slate customers includes a zero introductory APR for 15 months on both balance transfers and new purchases. After the first 15 month period ends, Chase Slate offers a variable APR of between 12.99% and 22.99%. Also, Chase Slate is promoting its balance transfer offer with $0 annual fees. At the same time, Forbes Magazine named Chase Slate has offering the best overall deal on balance transfer credit cards.
Capital One aiming at balance transfer market
While the Capital One Platinum Prestige credit card is a top brand that is being marketed heavily both in TV ad and online ads, this credit card company is upping the ante this summer season by promoting a transfer balance at 0% APR, and 0% introductory APR on “all purchases” through October 2015. In this way, Capital One can keep this promotion going for another 18 months, say credit card analysts commenting online.
The Capital One Platinum Prestige credit card balance transfer offer also includes:
– No annual fee
– Unlimited 1.5% cash back on purchases with no daily limits
– Gold standard fraud coverage with Capital One’s pledge that this free service offers “peace of mind” if the card is stolen or lost
– Extended warranty protection on “eligible” purchases
– Customer service offered 24/7
In general, the Capital One Platinum Prestige offer for balance transfers, and daily purchases, seems to have all the bells and whistles that one would want in credit card, say credit card analysts commenting online. Still, the deal for 0% intro APR is only available when you apply on the Capital One website or other approved links, states a Capital One press release.
Save money on balance transfers
Another aspect of transfer credit cards is linked to how competitive the top lenders are when it comes to this balance transfer card offer. For instance, most top credit cards feature 0% intro APR on balance transfers for the first 18 months. After that period of time, the variable APR will kick in and raise the card holders interest rate based on such things as “creditworthiness.” The result is huge amounts of interest being saved by credit card holders today.
Top balance transfer offers online
While each credit card company offers its own details about balance transfer cards and conditions, the general rule is to always offer accurate information for applying for these special credit cards. For example, the top credit card company websites feature user friendly balance transfer cards that feature zero interest for the first 18 months. The people who wish to take advantage of this great offer can simply click on the “take offer” button on a credit card company webpage.
At the same time, the top 10 balance transfer credit cards featured online this summer season include:
– Citi Diamond Preferred Card
– Barclaycard Rewards MasterCard
– Capital One Platinum Credit Card
– Capital One Secured MasterCard
– Discover it for Students credit card with a $20 cash back bonus
– Discover it card that offers zero interest on purchases and balance transfers for 14 months; while other balance cards usually offer 18 months of 0%
– Citi Simplicity Card
– Discover it card with 18 months balance transfer
– Chase Freedom
– Blue Sky from American Express
In general, each of these “balance transfer” credit cards feature between 15 and 18 months with zero interest unless specified. Also, there are some terms and restrictions that may apply to these special balance transfer credit card offers. Also, there are many positive customer comments online today about the great deals on balance transfer cards with zero interest charged over an 18th month period. The credit card companies offering this special deal during the busy summer months hope customers will take advantage of this summertime offer that involves most major credit card companies.
