Are you struggling to keep on top of credit card repayments? You’re not alone as 70% of Americans are falling behind on their bills.1 Thankfully zero balance transfer credit cards offer a way to stop interest growing for up to 18 months. To view the best offers on zero balance transfer credit cards start an online search today.
What Are Zero Balance Transfer Credit Cards?
Zero balance transfer credit cards can be a great tool for consumers looking to consolidate their credit card debt and save on interest charges. These cards allow you to transfer balances from high-interest credit cards to a new card with a 0% introductory APR on balance transfers. This means that you can pay off your debt interest-free for a set period of time, typically ranging from 12 to 18 months. They have become extremely popular for consumers to help break the debt curve and finally get on top of debt repayments.
Benefits of Using Zero Balance Transfer Credit Cards
- Save on Interest Charges: By transferring your balances to a zero balance transfer credit card, you can avoid paying interest charges on your debt for a set period of time. This can help you pay off your debt faster and more affordably.
- Simplify Your Finances: If you have multiple credit cards with high balances and different interest rates, consolidating your debt onto a single zero balance transfer credit card can help simplify your finances and make it easier to manage your payments.
- Improve Your Credit Score: By paying off your debt more quickly and consistently, you can potentially improve your credit score over time. This can help you qualify for better interest rates and loan terms in the future.
- Take Advantage of Rewards: Some zero balance transfer credit cards also offer rewards programs that allow you to earn cash back, points, or miles on your purchases. By using your zero balance transfer credit card for your everyday expenses, you can earn rewards while also paying off your debt interest-free.
- Avoid Late Fees: If you’re struggling to keep up with payments on multiple credit cards, a zero balance transfer credit card can help you avoid late fees and potential damage to your credit score. By consolidating your debt onto a single card, you can make one monthly payment and avoid missed or late payments.
The 5 Best Zero Balance Transfer Credit Card Options This Year
Chase Slate Edge Card2
The Chase Slate Edge card offers 0% APR on balance transfers for the first 18 months, as well as no balance transfer fee for transfers made within the first 60 days. This can be a great option for those looking to pay off their debt interest-free over a longer period of time without incurring any additional fees. Additionally, the Chase Slate card also offers a free credit score and fraud protection.
Citi Simplicity Card3
The Citi Simplicity card offers 0% APR on balance transfers for the first 18 months, making it one of the longest introductory periods available. There is also no annual fee or late fee on this card, making it a good option for those who may occasionally miss payments. However, there is a balance transfer fee of 5% (or $5 minimum), which should be taken into account when considering this card.
Discover It Card4
The Discover it card offers 0% APR on balance transfers for the first 14 months, as well as cashback rewards on purchases. Additionally, there is no annual fee and no penalty APR on this card. However, there is a balance transfer fee of 3% (or $5 minimum).
Wells Fargo Reflect Visa Card5
The Wells Fargo Reflect Visa card offers 0% APR on balance transfers for the first 18 months, as well as no annual fee. However, there is a balance transfer fee of 3% (or $5 minimum). This card also offers cell phone protection when you pay your monthly bill with the card.
BankAmericard6
The BankAmericard offers 0% APR on balance transfers for the first 18 billing cycles, as well as no annual fee. However, there is a balance transfer fee of 3% (or $10 minimum). This card also offers free access to your FICO credit score.
Make Sure The Card Is The Right One For You
It’s important to note that while zero balance transfer credit cards can offer significant benefits, they are not a one-size-fits-all solution for everyone. It’s important to carefully evaluate your financial situation and consider the costs and benefits of using a zero balance transfer credit card before applying.
Find Your Perfect Zero Balance Transfer Credit Card Today
As you can see zero balance transfer credit cards can be a useful tool for consumers looking to consolidate their credit card debt and save on interest charges. By carefully evaluating the terms and conditions of different cards, you can find a card that meets your needs and helps you achieve your financial goals. To view the best offers on zero balance transfer credit cards start an online search today.
See Zero Balance Transfer Credit Cards
Reference:
- https://www.cnbc.com/2019/03/19/70-percent-of-people-with-credit-card-debt-cant-pay-it-off-this-year.html
- https://creditcards.chase.com/balance-transfer-credit-cards/slate/edge
- https://www.citi.com/credit-cards/citi-simplicity-credit-card
- https://www.discover.com/credit-cards/cash-back/it-card.html
- https://creditcards.wellsfargo.com/reflect-visa-credit-card
- https://www.bankofamerica.com/credit-cards/products/bankamericard-credit-card/
