Balance transfer cards are credit cards which you switch to pay the balance owed to another card. These credit cards help you save your money. To get the best balance transfer cards you must consider so many things. Among which include the annual percentage rate, the balance transfers fee as well as the grace periods.
Getting a balance transfer can be tricky and if you don’t get the right it the first time can affect your credit score. You must consider the cost of balance transfer as well as the APR amongst other things. Before you get a balance transfer card, you should know everything that has to do with credit cards and how to avoid credit card fees. Click Here to learn more.
Best Credit Cards for Cost Effective
Bank Americard Credit Card Review
- A grace period for all balance transfers.
- There are no annual fees to pay.
Bank Americard credit card charges no fee on all balance transfer for a period. This grace period lasts for the first 2 months of using the card. It also offers the cardholders low interest. This is one of the best balance transfer cards at the moment.
The balance transfer card charges no annual fee for using the card. There is a $0 fee charged when you make a balance transfer within the first 2 months. Another benefit of using this balance transfer cards is there are no introductory fees to pay. You also get a 0% APR grace period which lasts for a period of 60 days.
One huge drawback for using this credit card is it doesn’t offer rewards for purchases made. If you’re looking for a card to which can possibly sponsor your spending, then you should look at another card. You also cannot carry out balancer transfer from cards issued by the bank of America to this card. you can also get a longer 0% introductory APR from other cards.
Best Credit Card For 0% Intro Grace Period
Citi Simplicity Card Review
- The longest intro grace period for any balance transfer card.
- You don’t pay an annual fee for using the card.
This is balance transfer cards known for the best introductory grace period. Citi Simplicity card offers a pool of benefits and reward which makes it really valuable. It offers a 0% intro period for more a year. You also get to pay $0 annual fee for making use of the card.
Citi simplicity card has the best introductory grace period for a balance transfer card. The 0% intro grace period last for 21 months. With this, it’s safe to say you can get the intro grace period from another card. Another unique feature of this card is it doesn’t charge an APR fee as a penalty for late payment. However, you need to pay back balance owed on time. Citi simplicity card lets you transfer any debt owed.
Like other cards, you don’t earn rewards when you use the card to make purchases. It also charges a 3% or $5 fee for balance transfer made. Whichever fee higher will be charged for balance transfers made. You also can not transfer balance owed from other Citi bank accounts to this balance transfer cards.
Best Credit Card For Average Credit
Chase Slate Card Review
- No annual fee charged for using the card.
- You get a 0% intro grace period on balance transfers.
Chase Slate card is ideal balance transfer cards for those with average credit. Apart from the fact that it offers a 0% intro grace period, it also offers tools to help you manage and pay back your credit balance.
Chase Slate card offers one of the longest 0% intro APR in the balance transfer card group. The introductory grace period last 15months. It also charges no annual fees for using the card. Chase slate card lets you keep track of your FICO score free of charge.
Like other great balance transfer cards, you don’t earn rewards when you make purchases using the card. There is also a limit on the balance transfer you can make using the card. Balance transfer limit stands at $15000 no matter your limits.
Best Credit Card for Long-Term Value
Discover it 18 Month Balance Transfer Card Review
- There are no annual fees to be paid.
- An intro grace period which lasts 18months.
- You get cash back rewards when you use the card for purchases.
Unlike most balance transfer cards, discover it-Balance Transfer Card offers you rewards when you use the card to make purchases. Every quarter, you get 5% cash back when you make spending of up to $1000. This %5 cash back depends on carrying categories which change each quarter. You get a 1% cash back when you spend on other things. In addition to this, you get a bonus that grows each time you use the card.
You get a balance transfer fee for every balance transfer you make after the grace period. You pay a 3% balance transfer fee. The grace period for purchases you make using the card is shorter than the balance transfer grace period. The grace period on purchases lasts for 6months.