It can be very easy to accumulate a lot of debt over a number of different credit cards. As this debt grows, it becomes very difficult to keep track of what you owe. One small misstep could ruin your credit for a very long time. Credit card companies will try to attract new customers to their company by offering credit cards that allow for the consolidation of credit card debt with periods of little or no interest. These kinds of credit cards may be just what you need to get your finances back on track. Here are some of the top balance transfer credit cards.
The Discover it is a 0% APR balance transfer credit card that is offered by Discover. It has an introductory period of 6 months with 0% APR for regular purchases. For balance transfers, the 0% APR period is for the first 18 months that you have the card. After the introductory period is over, your APR increases to 10.99% – 22.99% depending on your credit rating. This card also offers cash back rewards and 24 hour customer service.
BankAmericard Visa Card
Bank of America offers a balance transfer card with Visa called the BankAmericard Visa Card. This card has an introductory period of 15 billing cycles. During the introductory period, both regular purchases and balance transfers can be made at 0% APR. However, your balance transfers must be qualified under Bank of America’s policies. Once the introductory period ends, your APR will go up to 10.99% – 20.99%. This card has few bells and whistles, but it offers a good deal to help get rid of debt.
Citi Simplicity Card
The Citi Simplicity Card is one of many balance transfer cards that are offered by CitiBank. The 0% APR introductory period for this card lasts for the first 18 months. This period covers both regular purchases and balance transfers. After the 0% APR period elapses, your APR will go up to 12.99% – 21.99%. Although it comes with a longer introductory period, you should be aware that balance transfers come with a fee of either $5 or 3% depending on which amount is greater.
Citi Diamond Preferred Card
The Citi Diamond Preferred Card is another balance transfer card that is offered by CitiBank. This card has the exact same 0% APR policies as the Citi Simplicity Card including the introductory period and the transfer fees. However, it also offers a number of amenities that the Simplicity does not. It includes a price matching service that can find you the cheapest deal for an item, concierge service to help you book flights and hotels and special offers for concerts and other events.
Capital One Platinum Prestige Credit Card
Capital One offers a balance transfer credit card known as the Capital One Platinum Prestige Credit Card. This credit card has a 0% APR introductory period of 15 months that applies to both purchases and balance transfers. Once the introductory period has expired, your APR will increase to 10.9% – 18.9%. There is no fraud liability for stolen or lost cards. They also offer 24 hour travel assistance and roadside assistance.
If you’ve accumulated a lot of credit card debt over a lot of different accounts, a balance transfer credit card may be exactly what you need to buy yourself some time to pay off your debt and save your credit score. Be sure to consider all of the options that are out there. Each credit card offers different features that may be useful for some customers more than others. Remember to always be responsible when using credit cards so that you can avoid having to worry about accumulating debt.