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Best Credit Cards for Balance Transfer

If you are searching for the best credit cards balance transfer then there are several things you must keep in mind. First and foremost, because you are in fact carrying a balance foreword from one billing cycle to the next you must carefully weigh the annual percentage rate (APR).

It is absolutely vital that you take the time to compare interest rates amongst the credit cards that offer a balance transfer option. Many times these offers will feature an introductory rate that is designed to entice consumers to either apply for a credit card, or switch from another issuer.

That’s all well and good but please understand that as soon as that introductory period ends, the regular interest rate will apply. Certainly that sounds like a rather obvious point to make, but surprisingly many people see offers featuring a 0% APR and tend to forget that it will expire.

Oftentimes the best credit cards for balance transfer will offer a 0% introductory interest rate for a period of 6 to 12 months. That is an outstanding opportunity to pay down your existing balance because you will be able to apply 100% of your payments to the principle.

Fees are another matter to consider that are becoming increasingly important in the credit card industry. Because of the recent credit card reform legislation many banks and issuers are now charging account holders higher fees. In some cases they are introducing new ones as well.

This is all in an attempt to make up for lost profit opportunities that the reform laws now prohibit. By all means be cognizant of these fees. You can find an outstanding interest rate but if you are suddenly facing expensive fees then those savings will be pretty much wiped out.

Speaking of fees, it is pretty much universal now that there will be balance transfer fees charged. As a general rule they can range between 3% to 5% of the amount transferred. Each and every card is different so please read the terms of the offer very carefully.

Before you submit your credit card application be sure to completely understand exactly what the interest rates, fees and other important terms are. You can compare the best credit cards for a balance transfer, including offers from Chase and Discover cards, right here at


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