A review of several 0% balance transfer credit cards

Save Money With Zero % Balance Transfers!

There is a lot of money to be saved by moving your credit card balance to a different credit card that is offering a period of zero percent interest on the money transferred. You must be careful however, to pay down or off the balance and understand what interest rate you will have after the introduction rate expires, or it may cost you more in the long run. The credit cards listed below are just a few of the good cards to look at in credit card arbitrage when you go looking to get short term interest free money:

  • U.S. Bank Visa Platinum gives a full 12 months of zero % introductory APR (annual percentage rate) when you apply online and transfer your current balance to this card. There is no annual fee. It is a conventional card but a typically good deal if you are serious about saving money. Don’t waste your time applying unless you have a good credit score already.
  • Discover More(SM) Card: You get to save more money with this card’s zero % APR on both purchases and balance transfers. The deal allows you to enjoy an interest-free rate on purchases and balance transfers for the first 6 months.
  • Citibank’s Citi Platinum Select MasterCard is a low variable APR credit card but again just for those with good credit. It is just a standard convenient everyday credit card.This card has no annual fees and carries a very low 0% APR on balance transfers and purchases for up to 12 months. OK the rate isn’t zero and doesn’t apply to cash advances, at any time the variable APR on purchases and balance transfers is still competitively low, when compared to other platinum credit cards.
  • Smartline Platinum MasterCard does not charge an annual fee, and the normal annual interest rate for cash advances is 19.8%. They are offering though, their lowest long-term rate of 5.99% on purchases and balance transfers for a guaranteed 3 years. You lose the deal if you fail to make a payment or make a late one. After the offer period your rate will stay low and become the variable prime rate plus 2.99%. Save money there is a no-fee balance transfer service.

You can save money by simply transferring your balance to a credit card with a zero percent interest rate, but you must be aware of the consequences if you don’t pay off the balance before the intro offer expires.  The important thing to keep in mind is to effectively manage the details of the transferred balance to the end of the promotion period and continue to do so thereafter. As with all financial moves the secret is to understand detailed ins and outs before taking on the new responsibilities and the inevitable but manageable risks involved.

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