Last Updated: 12/20/2012
The folks at GetDebit have scoured the web, including competing blogs, in a thorough effort to identify the best balance transfer offers in the marketplace. Note that this post changes often as new offers come online and other offers end, so bookmark this page.
Credit Cards With No Balance Transfer Fees
Cards with no balance transfer fees and 0% APR are the equivalent of free loans, assuming you play it smart by always paying at least the minimum monthly payment. These types of offers are exceedingly rare (maybe you see 1 or 2 of these per year, if you’re lucky!).
Currently, Chase Slate is offering a no fee, 0% introductory offer (see details below). This is the mack-daddy of all balance transfer offers.
Best Balance Transfer Offer Available
Slate From Chase 15-Month No Fee Balance Transfer Offer. Hands down, the Slate from Chase offer is the best on the market. It’s really quite simple. It’s a 15-month 0% promotional APR on both purchases and balance transfers. If you make the transfer within 60 days of account opening, you won’t pay any balance transfer fee.
The most you can transfer is the lesser of $15K or the maximum credit line you have been approved for.
This is really the equivalent of a 0% interest 15-month loan. If you are carrying a high balance loan (from another credit card, auto loan, personal loan, etc) and you have reasonably good credit, then you’d be wise to take advantage of this “refinancing” opportunity.
Just make sure you have the discipline to make the monthly minimum payments (that should go without saying!).
Other Excellent Long Duration Balance Transfer Offers
While sometimes it makes sense to get a 12 month loan for free, there are other situations where you may want a longer-term 18-month balance transfer, and are OK paying the 3% balance transfer fee. Remember, a 3% fee spread out over 18 months amounts to a very low annual interest rate.
Citi Diamond Preferred 18-Month Balance Transfer Offer. While there’s a 3% balance transfer fee on the Citi Diamond Preferred Credit Card, bear in mind that you’ll pay no interest on balances you transfer for a whopping 18 months. That’s some serious piece of mind. You’ll also pay no interest on any purchases you make during the first 18 months-really nice! After the promotional period, your APR will range from 11.99% to 21.99%, depending on your credit level. There’s also no annual fee on this card.