All posts by Leonard Kreicas

Best Balance Transfer Offers September 2021

balance transfer credit cards

No interest on balance transfers until 2023 with special introductory rates on some new accounts

When you transfer your high-interest balance to a credit card offering an introductory 0% APR (Annual Percentage Rate) you could reduce your monthly credit card bills by a significant amount.

A fixed interest rate of zero financing for a year or more allows you to make affordable payment on only the balance you owe. Note that minimum monthly payments are still due until the intro period ends. Once the special 0% rate expires regular rates will apply to the remaining balances.

CHECKLIST

Most major banks charge upfront balance transfer fees that are added to the balance. Usually the fees are less than interest you’re currently paying, but check with a professional financial advisor before proceeding with a balance transfer. Fees such as balance transfer, annual, late payment, etc. could swallow up any savings on interest.

See if credit line with the new card covers the amounts you want to transfer. For instance if you have a $10,000 balance to transfer and only get a $2,500 credit line with the new card, that may not be enough to save a meaningful amount. You’ll also be complicating life by having more credit card payments to keep track of.

Never charge anything on the card since purchases often are mixed in with transfers. When that happens the entire balance may be due way before the expiration of the introductory period. If not paid in full you might even pay regular interest rates on the amounts transferred.

Normally you cannot transfer balances between cards from the same bank or issuer. Inquire whether funds from the new card can be sent to the original card. Otherwise an excess of “hard” inquiries could damage your credit score.

Allow a lag time between transfer request and its posting to the old card. A month might pass before balance is erased from the high-interest account. That delay might result in an unexpectedly large amount due for the first card.

THE CARDS

The credit cards below feature longer 0% APR periods so you can pay bills in a planned manner under the guidance of trusted financial mentor.


20 MONTH INTRO 0% APR

U.S. Bank Visa® Platinum Card

  • 20 month 0% intro APR for transfers completed first 60 days
  • No annual fee
  • Balance transfer fee: 3%
  • Regular APR is 14.49% to 24.49% once intro period expires

18 MONTH INTRO 0% APR

Citi Double Cash Mastercard®

  • 18 month zero-interest intro APR(valid for first 4 months)
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 13.99% to 23.99% after intro period expires

Citi Diamond Preferred Mastercard®

  • 18 month zero-interest intro APR(valid for first 4 months)
  • Balance transfer fee: 3%
  • Also offers 0% APR on purchases for 18 months (other 0% APR purchases offers)
  • No annual fee
  • Regular APR is 13.74% to 23.74% once intro period expires

Citi Simplicity

  • No interest intro APR for 18 first months
  • Transfers must be completed during initial 120 days
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 14.74% to 24.74% once intro period expires

Wells Fargo Platinum Visa®

  • 0% APR for 18 months on balance transfers
  • Introductory rate applies only on transfers made within first 120 days
  • Balance transfer fee: 3%
  • Also offers 0% APR on purchases for 18 months (other 0% APR purchases offers)
  • No annual fee
  • Regular APR is 16.49% to 24.49% once intro period expires

Citizens Bank Clear Value Mastercard®

  • No interest APR for first 18 months on balance transfers
  • No cut-off date during balance transfer introductory period
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 13.99% to 21.99% after intro offer expires

15 MONTH INTRO 0% APR

KeyBank Latitude Credit Card

  • 15 month introductory 0% APR on balance transfers and purchases
  • Balance transfers must be completed within first 60 days of account opening
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 9.99% to 19.99% after intro offer expires

PNC Core Visa® Credit Card

  • 15 month introductory no interest APR
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 10.99% to 22.99% after intro offer expires

SunTrust Cash Rewards World Mastercard®
SunTrust Travel Rewards Mastercard®
BB&T Bright Visa® credit card

While currently issued as separate products, SunTrust and BB&T have merged to form Truist, so the credit cards will eventually become Truist ones.

  • 15 month introductory no interest APR
  • No cut-off date for special introductory rate
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 11.24% to 21.24% after intro offer expires

Citi Rewards+ Mastercard®

  • 15 month introductory 0% APR on balance transfers
  • They must be completed within first 120 days
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 13.49% to 23.49% after intro offer expires

Citi Custom CashSM Credit Card

  • 15 month introductory 0% APR on balance transfers
  • They must be completed within first 120 days
  • Balance transfer fee: 5%
  • No annual fee
  • Regular APR is 13.99% to 23.99% after intro offer expires

Wells Fargo Active Cash Card

  • 15 month introductory 0% APR on balance transfers
  • Balance transfer request must be made within first 120 days
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 14.99% to 24.99% after intro offer expires

Diamond Resorts World Mastercard® from Barclays Bank

  • 15 month introductory 0% APR on balance transfers
  • Balance transfer request must be made within first 45 days
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 15.74% to 24.99% after intro offer expires

TD Cash Visa® Card

  • 15 month introductory no interest APR
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 12.99% to 22.99% after intro offer expires

Mastercard® Black Card (Barclays Bank)
Mastercard® Gold Card (Barclays Bank)
Mastercard® Titanium Card (Barclays Bank)

  • 15 month introductory 0% APR on balance transfers
  • Balance transfer request must be made within 45 days of opening
  • Balance transfer fee: 3%
  • Annual fees are $195 (Titanium), $495 (Black), $995 (Gold)
  • Regular APR after intro offer expires varies on which card you apply for and credit history

Bank of America® Customized Cash Rewards Credit Card

  • 15 month introductory no interest APR on transfers within first 60 days of account opening
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 13.99% to 23.99% after intro offer expires

BMO Harris Bank Platinum Mastercard®

  • 15 month introductory 0% APR on balance transfers
  • Balance transfers must be completed within first 90 days of account opening
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR is 12.24% to 20.24% after intro offer expires
  • Available only in Arizona, Florida, Indiana, Illinois, Kansas, Minnesota, Missouri and Wisconsin

Fifth Third Bank Truly Simple Mastercard®

  • 15 month introductory no interest APR
  • Balance transfer fee: 4%
  • No annual fee
  • Regular APR is 11.99% to 22.99% after intro offer expires

Bank of the West (BNP Paribas) Platinum Mastercard®

  • 15 month introductory 0% APR on balance transfers
  • Balance transfers must be completed within first 90 days of account opening
  • Balance transfer fee: 4%
  • No annual fee
  • Regular APR is 14.99% to 22.99% after intro offer expires

Citizens Bank Cash+ World Mastercard®

  • 15 month introductory no interest APR
  • Balance transfer fee: 4%
  • No annual fee
  • Regular APR is 15.99% to 23.99% after intro offer expires

Regions [Bank] Life Visa® Card

  • 15 month introductory 0% APR on balance transfers
  • Balance transfers must be completed within first 60 days of account opening
  • Balance transfer fee: 4%
  • No annual fee
  • Regular APR is 11.99% to 21.99% after intro offer expires

Elan Financial Services

Elan Financial Services issues 20-month introductory 0% APR on selected credit cards on behalf of several banks, which normally have the following terms:

  • 0% APR financing for first 20 months after opening account
  • Balance transfer fee: 3%
  • No annual fee
  • Regular APR of 13.49% to 23.49% once intro period expires (changes depending on prime interest rates)

A small sampling of those banks are:

Hillcrest Bank Visa® Platinum Card
Exchange Bank(NE Missouri) Visa® Platinum Card
Exchange Bank(Oklahoma) Visa® Platinum Card
Fulton Bank Visa® Platinum Card
People’s United Bank Mastercard® Platinum Card
Sterling National Bank Visa® Platinum Card
Suncrest Bank Visa® Platinum Card
The Bank of Missouri Visa® Platinum Card

NO BALANCE TRANSFER FEE & INTRO 0% APR

Union Bank Platinum Visa Credit Card

  • 15 month introductory no interest APR
  • No balance transfer fee on transfers made within 60 days; 3% after that (terms)
  • No annual fee
  • Regular APR is 8.49% to 19.99% after intro offer expires

Navy Federal Credit Union®Credit Card (members only)

  • 12 month introductory 0% APR
  • No balance transfer fee
  • No annual fee
  • Regular APR is 5.99% to 18.00% after intro offer expires

Purdue Federal Visa Signature (members only)

  • 12 month introductory 0% APR on purchases, balance transfers and cash advances
  • Balance transfer fee: 0%
  • No annual fee
  • Regular APR is 11.50% to 17.50% after intro offer expires
  • General membership via one-time $50 fee to join Purdue University Alumni Association as a Friend of the University

First Tech FCU Platinum Mastercard (members only)

  • 12 month introductory 0% APR
  • Balance transfer fee: 0%
  • No annual fee
  • Regular APR is 6.99% to 18.00% after intro offer expires
  • General membership via one-time fee to join Computer History Museum or the Financial Fitness Association

Wings Visa® Platinum Credit Card (credit union members only)

  • 12 month introductory 0% APR
  • Balance transfer fee: 0%
  • No annual fee
  • Regular APR is 8.15% to 18.00% after intro offer expires
  • General membership via one-time fee to join Wings Financial Foundation

BBVA Compass ClearPoints Visa Card

BBVA ClearPoints credit card

After merger with PNC Bank the BBVA ClearPoints credit card is no longer accepting new applications. 

Material below is for archival purposes.

Flexible choices give you better deals. The BBVA credit card allows you how you want to be rewarded. You get extra savings, 3% or 2%, from among these ten categories.

  1. Business
  2. Dining
  3. Entertainment
  4. Gas
  5. Groceries
  6. Health Care
  7. Maintenance
  8. Retail
  9. Travel
  10. Utilities

Choices are made quarterly, so you can plan ahead of time which charges to put on the card to maximize savings.

These points can be redeemed for an account credit without any complicated math.

As an incentive BBVA offers an 0% introductory APR for 13 months to new credit card holders qualifying purchases.

Pay NO annual fee for the BBVA Compass ClearPoints credit card and add additional authorized users at no cost.

Multiple Payment Options offers you the ability to pay your bill by mail, automatic debit, online banking or at any local branch

Security alerts notify you of possible suspicious activity on your account, as well as convenience notices for payments, balances, special offers and more.

You never pay interest if you pay your balance in full every month.

Additional free services include:

  • Free extended warranty for up to one year
  • Generous free insurance coverage up to $10,000 per purchase, with a $50,000 maximum per cardholder
  • Free Common Carrier Insurance: A full Benefit Amount of $500,000 is payable for accidental loss of life, two hands or two feet, sight of both eyes, one hand or one foot and sight of one eye, speech and hearing in both ears or any combination thereof.
  • The Visa Auto Rental Collision Damage Waiver benefit (“Auto Rental CDW”) provides—at no additional charge—reimbursement for damage due to collision or theft up to the actual cash value of most rental vehicles, when certain terms and conditions are met.

 BBVA has an another special bonus offer for Everyday Heroes:

Everyday Heroes get 5,000 bonus CompassPoints when they open a new Clear Points or Visa Signature Credit Card within 60 days of registering with the Everyday Heroes specialty program. This relationship is limited to

  • Teachers
  • Law enforcement members
  • Fire fighters and first responders
  • Healthcare workers including nurses, pharmacists, medical technicians
  • Active, reserve, and retired U.S. Military personnel