7 Best Balance Transfer Credit Cards With 0% Aprs In September 2023 – America’s debt is growing at record levels. Here are the 9 best balance transfer credit cards right now, some with 0% interest for up to 21 months
At its core, a 0% balance transfer credit card helps you temporarily eliminate interest charges on your debt. Getty Images/iStockPhoto
7 Best Balance Transfer Credit Cards With 0% Aprs In September 2023
A long period of high inflation in the U.S. Impact on debt. According to the New York Fed’s quarterly report on household debt and credit, credit card balances rose a record 17% over the past year. And, with the average credit card annual percentage rate, or APR, hitting a record 20.33% this year, those interest payments are about to start adding up — and fast.
How To Do A Discover Balance Transfer
It will cost you hundreds, even thousands. “We’re seeing more and more people carrying credit card debt more often to finance everyday necessities,” said Bankrate senior industry analyst Ted Rossman, citing a recent report on rising debt balances. One-third of adults have more credit card debt than emergency savings, the highest since we started tracking in 2011.” Enter balance transfer cards that offer 0% interest for a fixed period. We’ll cover them in detail below, but these include:
A 0% balance transfer credit card can help you eliminate interest charges on your loan for up to 21 months, saving you thousands of dollars.
But if you fail to pay off the loan at the end of the set 0% promo window, that rate jumps to around 30%. What’s more, most balance transfer cards charge a one-time transaction fee of 3% to 5%, says Matt Schulz, chief credit analyst at LendingTree. They usually require you to make the balance transfer by a certain date (usually around 60 days) to get the 0% offer; And if you don’t pay your bill, the issuer can cancel the offer.
With so many options available for this type of campaign, the team at Pix has collected the best.
Purchase Credit Cards
0% APR on balance transfers for the first 18 months of account opening (18.99% – 28.99% variable APR thereafter).
0% APR for the first 21 months of account opening on balance transfers and 12 months on purchases (18.74% – 29.49% variable APR thereafter).
0% APR for the first 15 months of account opening (19.99% – 29.99% variable APR thereafter) on purchases and balance transfers.
0% APR for the first 15 months of account opening (18.99% – 28.99% variable APR thereafter) on purchases and balance transfers.
Best Credit Cards 2023
0% APR for 21 months on balance transfers and 0% introductory APR for 12 months on purchases from account opening date (then 17.99% – 28.74% variable APR).
0% APR for up to 18 months, with a three-month extension available for on-time payments on purchases and qualifying balance transfers (then 17.24% to 29.24% variable APR).
0% APR is available for 21 billing cycles on purchases and balance transfers made within the first 60 days of account opening.
0% APR for first 18 statement closing dates after account opening for transactions made within 60 days.
Low Rate Credit Card
“Divide the balance by the number of months in the promotional period to figure out the monthly payment that will help you eliminate debt by the time the offer ends,” says NerdWallet credit cards expert Melissa Lambarena. She adds, “Paying on time is important because the issuer may cancel your promotional offer if you don’t. Also, avoid making new purchases on the card to stay on track with your progress.
Make sure you transfer your balance to the new card as soon as possible. Schulz adds, “Most cards require you to make a transfer by a certain date to take advantage of the 0% offer. The deadline can be 60 days or more, so that allows plenty of time, but it’s still important to know what the cut-off date is.
Other key points to keep in mind are that you can usually only transfer your balance to a different issuer, and only those with good credit scores, around 690 or higher, can usually qualify. “If you can qualify with good credit, look for a balance transfer credit card with no annual fee, a low balance transfer fee of 3% or less and a long enough interest-free window to pay off the loan,” says Lambarena. “To decide if this option is worth it, you’ll need to do the math to determine whether the balance transfer fee will be less than the interest charges you pay with your current card over time.”
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Andrew Schilling, a reporter for Picks, writes about savings, retirement, investing and other personal finance topics. Previously, he was associate managing editor at Financial Planning magazine and a reporter and editor at the Queen’s Ledger/Brooklyn Star newspaper group.
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With the best 0% balance transfer credit cards, you can settle existing credit card debt or make a major purchase without incurring the burden of high finance charges and fees. This is one of the most popular promotional offers in the credit card industry because it allows users to save money and achieve certain financial goals at the same time.
If you have a big purchase in your future or if you currently have credit card debt stuck on a high interest rate credit card, apply for one of the cards listed below. You can save thousands in finance charges over the life of your loan with a 0% balance transfer card.
What Is A Balance Transfer Fee—and Can You Avoid It?
Credit card issuers offer introductory APR rates and other limited-time offers as a way to entice consumers to apply for their credit cards. History shows that this move works.
Banks regularly change their promotional offers based on competition and current economic climate. If you find an offer you really like, consider jumping on it as soon as you’re ready. Below are our top 0% balance transfer cards:
0% introductory APR for 21 months on balance transfers from the date of first transfer and 0% introductory APR for 12 months on purchases from the date of account opening. After that the variable APR will be 18.24% – 28.99% based on your creditworthiness. Balance transfers must be completed within 4 months of account opening. There is a balance transfer fee of $5 or 5% of each transfer amount, whichever is greater Get free access to your FICO® score online. With Citi Entertainment®, get exclusive access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more. No Annual Fee – Our low introductory rates and all benefits come with no annual charge.
No late fee, no penalty rate and no annual fee… 0% intro APR for 21 months on balance transfers from the date of first transfer and 0% intro APR for 12 months on purchases from the date of account opening. After that the variable APR will be 19.24% – 29.99% based on your creditworthiness. Balance transfers must be completed within 4 months of account opening. The introductory balance transfer fee is $5 or 3% of the transfer amount, whichever is greater for balance transfers completed within 4 months of account opening. Stay safe with Citi® Quick Lock
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Introductory Offer: Unlimited Cashback Match – Only from Discover. Discover will automatically match the amount of cash back you earn at the end of your first year! There is no minimum spend or maximum rewards. You can turn $150 in cash into $300.