The Top Credit Cards for 0 Balance Transfer in 2021

If you’re carrying a large balance on your credit card, it can be difficult to make progress paying down your debt when interest charges are added each month. However, there is an option that can help you get ahead: a balance transfer credit card. This type of card allows you to move high-interest debt from one or more credit cards onto a new card with a promotional 0% interest rate for a specific period of time, typically 12 to 18 months. By taking advantage of one of these offers, you can potentially save hundreds or thousands of dollars in interest charges, allowing you to pay off your debt faster and more efficiently. In this article, we will explore the best credit cards for 0 balance transfers and provide tips on how to choose the right one for your needs.

1. Chase Slate Credit Card:

Chase Slate Credit Card is a sought-after option for those who want to transfer their balance without any additional transfer fees. This card offers a 0% intro APR for the first 15 months, which is quite impressive. With a relatively low balance transfer fee of 3%, this credit card is a great option for individuals who are looking to save money and pay their debt off quickly.

2. Citi Double Cash Card:

Citi Double Cash Card is another top-rated credit card that offers a fantastic balance transfer deal. This card provides a 0% introductory APR for the first 18 months on balance transfers and has no annual fee. With this card, you can earn 2% cashback on every purchase, 1% when you buy and 1% when you pay it off. It’s an excellent deal for users who want to transfer their balances and earn rewards simultaneously.

3. American Express EveryDay Credit Card:

The American Express EveryDay Credit Card is an ideal option for people who need to consolidate their debt and earn rewards. This card is loaded with perks like a 0% introductory APR for the first 15 months on balance transfers. Plus, if you make at least 20 purchases in a billing period, you can earn 20% extra rewards points. Having both features on a single credit card in addition to the standard balance transfer facility makes it an excellent choice for many.

4. Discover it Balance Transfer Card:

Discover it Balance Transfer Card comes equipped with a 0% introductory APR for the first 18 months on balance transfers. This card is an optimal choice for users who wish to avoid paying interest and fees to eliminate their balance. It also offers a rewards program that lets you earn 5% cashback on rotating categories each quarter and 1% cash back on everything else. It’s a great option if you wish to transfer balances over a long period while enjoying the cashback as well.

5. Capital One Quicksilver Cash Rewards:

Capital One Quicksilver Cash Rewards card is undoubtedly the best option for people looking for a low balance transfer fee. With zero percent APR for the first 15 months, this card also comes with an unlimited 1.5% cashback on all purchases, providing users with excellent rewards. Additionally, it has no annual fee, making it a great offer for those who want to reduce their debt while receiving a cashback as well.

6. HSBC Gold Mastercard:

HSBC Gold Mastercard is an excellent credit card for people looking for a low-interest rate on their balance transfer. This card offers users a 0% introductory APR for the first 18 months and no annual fee. It’s one of the low-cost options available in the market if you’re looking to transfer a significant amount of balance to a single card.

7. BankAmericard Credit Card:

BankAmericard Credit Card is a highly recommended credit card on the list of balance transfer cards. It offers users a 0% introductory APR for the first 18 billing cycles on balance transfers. Additionally, there’s no annual fee and even has a free FICO credit score checker that helps you monitor your score. If you’re looking for a balance transfer card with no catch, this is one of the best available choices.

8. Wells Fargo Platinum card:

Wells Fargo Platinum card is an outstanding option for people looking to transfer their balance for a more extended period. This card offers users a 0% introductory APR rate for 18 months on balance transfers, and no annual fee, plus standard Wells Fargo perks like cell phone protection. Overall, it’s an excellent option for users looking to transfer their balance over an extended period on a no-fee basis.

9. US Bank Visa Platinum Card:

The US Bank Visa Platinum Card is an excellent option for users who’d like to consolidate their debt over a more extended period. It offers a 0% introductory APR for the first 20 billing cycles on balance transfers. Additionally, it has no annual fee and benefits such as fraud protection and free access to your VantageScore kept up-to-date every quarter. With an extended duration like this, the card brings significant savings and stability to users.

10. Barclaycard Ring Mastercard:

Barclaycard Ring Mastercard is an excellent option for people seeking complete transparency on fees and rates. It offers users an 0% introductory APR on balance transfers for the first 15 months. Additionally, there’s no annual fee, balance transfer fee, cash advance fee, and foreign transaction fee. It also allows you to track revenues from other cardholders and make donation contributions to charities. If you’re looking for a socially conscious yet economically smarter balance transfer card, consider Barclaycard Ring Mastercard.

Choosing the Best Credit Card for Your Balance Transfer Needs

When it comes to choosing the best credit card for your balance transfer needs, it’s important to do your research and compare your options carefully. Here are 10 things to consider when selecting a credit card with a 0% balance transfer:

1. Length of the 0% Introductory Period

One of the most important things to consider when choosing a balance transfer credit card is the length of the 0% introductory period. Ideally, you want to choose a card that offers the longest 0% period possible so that you can pay down your debt without accruing any interest charges.

2. Balance Transfer Fees

Many balance transfer credit cards charge a fee for transferring your balance from one card to another. Before applying for a balance transfer card, be sure to check the fee amount and calculate whether it’s worth it based on the amount of debt you plan to transfer.

3. APR After the Introductory Period

Once the 0% introductory period is over, the interest rate on your balance transfer credit card will increase. Be sure to check the APR after the introductory period ends to make sure it’s a rate you’re comfortable with.

4. Credit Score Requirements

Some balance transfer credit cards require a certain credit score to be eligible for the card. Before applying, check the credit score requirements to make sure you can qualify for the card.

5. Rewards Programs

Some balance transfer credit cards also offer rewards programs that allow you to earn cashback or points for purchases made with the card. If you’re interested in earning rewards, consider a card that offers a program that aligns with your spending habits.

6. Foreign Transaction Fees

If you plan on using your balance transfer credit card while traveling abroad, be sure to check if the card charges foreign transaction fees. It’s best to choose a card that doesn’t charge these fees to avoid any surprises on your bill.

7. Late Payment Fees

Before applying for a balance transfer credit card, be sure to check the late payment fees to avoid any unexpected charges. Make sure you understand the payment due date and penalties for missing a payment.

8. Annual Fees

Some balance transfer credit cards charge an annual fee for using the card. Be sure to check the annual fee amount and weigh the cost against the benefits of the card.

9. Customer Service

It’s also important to consider the quality of customer service offered by the credit card issuer. Look for a card that has a reputation for excellent customer service, especially if you plan on using the card frequently.

10. Additional Benefits

Finally, consider any additional benefits offered by the balance transfer credit card, such as extended warranties, purchase protection, or travel insurance. These benefits can add value to the card and make it a more worthwhile choice for your balance transfer needs.

How to choose the best credit cards for 0 balance transfer?

If you are planning to transfer your credit card balance, then you need to choose the right credit card for this purpose. Here are some factors to consider before choosing the best credit cards for 0 balance transfer.

1. Interest rates

The interest rates should be at the lowest rate possible. Some cards offer an introductory 0% interest rate for the first six months or even for the first year. After that, the rate may increase, so ensure that you are aware of the changes in interest rates.

2. Fees

There might be fees associated with balance transfers such as a balance transfer fee or an annual fee. Some credit cards may waive these fees. Therefore, it’s important to look for a credit card that has low or no fees.

Credit Card Balance Transfer Fee Annual Fee
Citi Simplicity® Card $5 or 5% of the amount transferred, whichever is greater $0
Chase Freedom Unlimited® $5 or 5% of the amount transferred, whichever is greater $0
Discover it® Cash Back 3% fee waived for the first 14 months $0

3. Credit Score

Credit scores are an important factor when it comes to credit card applications. Some credit cards are designed for people with good credit, while others are tailored to those with fair credit. If your credit score is below 600, your options for balance transfer credit cards might be limited.

4. Rewards and Benefits

Rewards and benefits are an added bonus to credit cards. Some credit cards offer cashback rewards on balance transfers, while others offer sign-up bonuses, points, or miles. You should choose a card that rewards you for your spending habits.

5. Length of Introductory Period

The introductory period is the duration during which the cardholder can enjoy a 0% interest rate. Some cards might offer a short 6-month period, while others might offer up to 21 months. A longer introductory period gives you more time to pay off your balance. However, keep in mind that some credit cards with long introductory periods come with higher fees.

By considering the factors above, you can make an informed decision when choosing the best credit card for 0 balance transfer.

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10 Pros and Cons of Best Credit Cards for 0 Balance Transfer

In this section, we will discuss 10 pros and cons of using the best credit cards for 0 balance transfer. It’s essential to weigh the advantages and disadvantages before making any decision about transferring credit card balances.

1. Pros of Best Credit Cards for 0 Balance Transfer

a. Low or Zero Percent Introductory APR:

The low or zero percent introductory APR (Annual Percentage Rate) is the most appealing feature of 0 balance transfer credit cards. This introductory period usually lasts from 12 to 18 months, which means that you can pay off your credit card debt without paying any interest during the introductory period.

b. Save Money on Interest:

By transferring your credit card balances to a 0 balance transfer credit card, you can save a significant amount of money on interest. If you have a high-interest rate on your current credit card debt, transferring the balance to a 0 balance transfer credit card can help you pay off the debt faster and save money on interest.

c. Consolidate Credit Card Debt:

If you have multiple credit card debts with different interest rates, consolidating them into one 0 balance transfer credit card can simplify your payment process and help you save money on interest.

d. Improve Credit Score:

Having high credit card debt can negatively impact your credit score. By transferring your balances to a 0 balance transfer credit card and paying off the debt, you can improve your credit utilization ratio and boost your credit score.

e. Access Credit Card Rewards:

Some 0 balance transfer credit cards offer rewards programs, such as cashback or travel points, which you can earn while paying off your credit card debt.

2. Cons of Best Credit Cards for 0 Balance Transfer

a. Balance Transfer Fees:

Most 0 balance transfer credit cards charge a balance transfer fee, which is usually around 3% to 5% of the transferred amount. This fee can eat into your savings, especially if you’re transferring a large balance.

b. High Regular APR:

Once the introductory period is over, the regular APR on 0 balance transfer credit cards can be high, which can erase the savings you made during the introductory period.

c. Temptation to Spend:

Having a 0 balance transfer credit card can be tempting, and you might be tempted to spend more than you should. This can lead to more debt and financial trouble.

d. Limited Credit Limit:

When you apply for a 0 balance transfer credit card, your credit limit might be lower than your current credit cards. This can limit your ability to transfer the entire balance and reduce your available credit.

e. No Grace Period:

Most 0 balance transfer credit cards don’t have a grace period, which means that you have to start making payments immediately. This can be a disadvantage if you need some time to adjust your finances before making payments.

f. Affect Credit History:

Transferring credit card balances to a 0 balance transfer credit card can affect your credit history and credit score. It could lower your average account age and make it harder to get new credit.

That’s a Wrap!

Well, there you have it – our top picks for the best credit cards for 0 balance transfers. We hope you found this article helpful in your search for the right credit card for your needs. If you have any feedback or questions, please feel free to leave a comment below. Thanks for reading and don’t forget to visit our site again for more exciting articles like this!

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