Find credit cards, loans, mortgages and insurance using our guides, tools & comparison engines!
Balance Transfer Credit Cards
Updated: April 10th, 2012 by Timothy James -- We will cover two important areas here. Firstly, how to choose a suitable Balance Transfer Credit Card - and secondly, which the best card offers are in this category for the current week. Read the guide then compare the cards! Alternatively, if you want search for other credit card types, you can do that here.
Read The Guide...
This guide
will give
you
important
information
you should
know before
applying;
such as:
How this
type of
credit card works.
When, how and who should use them.
Tips, tricks and card
advice.
Top 10
Balance
Transfer
Credit Cards
Compare The
Cards...
Looking for
the best
Balance
Transfer Credit
Card offers?
>>
Click here
Recommended:
Most popular credit card in this category.
Balance Transfer Credit Cards - What are they
& how do they
work?
Some
credit
card
companies
allow
you
to
transfer
outstanding
credit
card
debt
onto
a
new
card
where
they
offer
an
introductory
interest
rate,
usually
between
0%
and
5%
for
up
to
21
months.
The benefit for them: They get a new customer.
The benefit for you: You save money and usually get additional borrowing capabilities.
This type of credit card could save you hundreds, even thousands of dollars in
annual interest payments, depending on your circumstances; so if you have outstanding credit card debt, and you fit the criteria that the card providers' require, this type of card is definitely worth considering.
TIP:
Check
out
our
SwitchSave
tool
which
will
help
you
find
the
best
card
offer
that
could
save
you
the
most
money.
(Once
at
the
tool
select:
credit
cards
>
your
credit
score
>
I
want
to
transfer
a
credit
card
balance
to
save
money).
However,
before
you
use
the
tool,
be
sure
to
read
the
'important
tips
and
advice'
section
below
first.
How to save
money with this
type of credit
card.
Balance
transfer
credit
cards
are
especially
beneficial
to
those
who
have
several
outstanding
debts
with
high
associated
interest
rates.
Here's
how
a
balance
transfer
credit
card
could
help
bring
the
cost
of
that
debt
down.
Let's
say
you
currently
have
2
credit
cards...
The first has an outstanding balance of $1200 and you pay an interest rate of 16.9% APR,
The second has an outstanding balance of $900 and you pay an interest rate of 18.9% APR.
If you choose to transfer the balances from
these credit cards to your new
0%
APR balance transfer credit card you will
still
have a total outstanding balance of $2100 BUT you
won't
be
paying interest on that balance for a specified period of time.
The result is that every dollar you pay each month goes towards paying the actual card balance off, potentially saving you a ton of money long term. Note: You MUST pay your monthly minimum payments on time and in full - or the benefits and savings could be lost!
Additional
benefits of
these cards...
Many
card
companies
not
only
offer
0%
interest
on
balance
transfers,
they
also
offer
a 0%
interest
rate
on
new
purchases
as
well,
meaning
that
anything
you
buy
with
your
card
will
also
be
subject
to
the
0%
rule.
Of
course,
when
the
introductory
period
ends,
the
interest
rate
reverts
to
normal
and
you'll
pay
interest
on
the
balance
that
remains.
In
other
words,
try
your
hardest
to
pay
the
balance
off
before
the
interest
rate
rises,
or
shift
the
debt
elsewhere
before
it
does.
Important tips
and advice
1:
Avoid choosing a
provider if you
have already had
a card with them
in the past
couple of years
as some may
reject you
automatically.
(By provider we
mean 'Citibank'
or 'Chase' (for
example), rather
than 'Visa' or
'MasterCard')
2:
If
you
are
planning
additional
spending
on
your
balance
transfer
card,
in
our
opinion
it
is
very
important
to
apply
for
a
card
with
a 0%
rate
for
new
purchases,
which
we
were
talking
about
a
moment
ago.
3:
Be
sure
to
keep
making
the
minimum
payments
on
your
old
card
until
the
balance
transfer
process
is
complete
or
you
could
be
hit
with
late
payment
fees.
4:
Remember
that
if
you
transfer
a
balance
to a
new
0%
APR
card,
even
though
you
won't
be
paying
interest,
you
will
STILL
be
paying
monthly
payments
- so
don't
forget
to
pay
them!
5:
You
will
usually
need
a
good
to
excellent
credit
score
to
be
approved
for
most
balance
transfer
cards as
you
will
be
seen
to
be
taking
on
additional
debt
even
if
you
intend
to
deactivate
your
current
cards
once
the
transfers
are
complete.
The best Balance Transfer Credit Card offers for the current week...
Whilst
other
finance
websites
usually
list
vast
numbers
of
available
credit
card
offers
on a
single
page,
in
our
view,
all
that
does
is
create
confusion
(and
a
lot
of
research
work)
for
you,
the
consumer.
We've
done
all
that
work
for
you.
The
top
cards
in
our
opinion
are
each
marked
with
5
stars.
Remember,
credit
card
companies
change
their
offers
and
rates all
the
time
and
the
below
information
is
correct
at
the
time
of
writing.
Be
sure
to
double
check
the
terms
of
the
offer
on
the
provider's
website
before
completing
an
application.
0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the APR will be 11.99%-21.99% based upon your creditworthiness.
24/7 access to personalized concierge service providing assistance in booking hotel, flights, concert tickets and much more
Special access for Citi cardmembers to purchase presale tickets, preferred seating, VIP packages, and other unforgettable live entertainment experiences through Citi Private Pass®.
$0 liability on unauthorized purchases and Citi® Identity Theft Solutions
Earn $100 Bonus Cash Back after you make $500 in purchases in your first 3 months
0% Intro APR for 15 months on purchases and balance transfers
5% Cash Back on up to $1,500 spent at grocery stores and movie theaters from 4/1/12 - 6/30/12
You'll enjoy new 5% categories every 3 months like gas stations, restaurants and even airlines. It's free and easy to activate your bonus each quarter!
You will get 50,000 bonus Avios after your first purchase
25,000 bonus Avios after you make $10,000 in purchases within the first year of account opening
Plus an additional 25,000 bonus Avios after you make an additional $10,000 in purchases within the first year of account opening
That's enough Avios for one roundtrip business class reward ticket
New: Smart Chip Technology allows you to use your card for chip based purchases in Europe & beyond, while still giving you the ability to use your card as you do today at home
Pay no foreign transaction fees when you travel abroad
Earn 2.5 Avios for every $1 spent on British Airways purchases
Earn 1.25 Avios for every $1 spent on all other purchases
Every year you spend $30,000 on your British Airways Visa card, you'll earn a Travel Together Ticket good for two years
Regular APR
Annual Fee
Balance transfers
Credit Needed
15.24% Variable
$95
Either $5 or 3% of the amount of each transfer, whichever is greater.
$100 in gift cards - When you redeem the 10,000 bonus ThankYou® Points received after you make $650 in purchases and sign up for paperless statements within the first 3 months
0% intro APR for 12 months on balance transfers and for 7 months on purchases. After that, 12.99% - 22.99% variable
5 points for every $1 spent at restaurants and on books, movies and music. 1 point for every $1 you spend on all other purchases
APR reduction on purchases when using credit wisely
Approvals.com - Find credit cards, loans, mortgages and
insurance using our guides, tools & comparison engines!
We have organized the website to make it as easy as
possible to identify cards, loans, mortgages and
insurance that you
will find most beneficial. However, we cannot guarantee
that you will be approved for any financial service or
offer displayed on Approvals.com because financial
companies make decisions based upon personal
circumstances, FICO scores, credit scores as well as
other information and their criteria is subject to change
and varies constantly.
Please note that we are not a lender and do not loan any
money. In addition, we may receive a commission from financial
institutions that we recommend or review on the website. We cannot be held responsible
for the content and/or actions of external websites and
services that
are linked to from Approvals.com and you will be subject
to their terms and conditions when using them. Visitors
to Approvals.com are also responsible for researching
offers and making
financial decisions that are most suitable for their own
circumstances. The information found present on this
website is designed to help you choose financial products amd does not constitute financial advice.
Be very sure to read the terms and conditions before applying for
any financial offer.
