17 Best Balance Transfer Cards with 0% Intro APR of 2024: Top Picks for Saving Money

Balance transfer credit cards can be a great way to save money on interest charges and pay off debt faster. With a 0% intro APR offer, cardholders can transfer high-interest balances from other cards and pay no interest for a set period of time. In 2024, there are many balance transfer cards available with competitive offers and rewards programs.

For those looking to consolidate debt or make a large purchase without accruing interest, a balance transfer card can be a smart choice. However, it’s important to compare offers and understand the terms and conditions before applying. The 17 best balance transfer cards of 2024 offer a variety of benefits, including longer intro periods and lower balance transfer fees. By taking advantage of these offers, cardholders can save money and get closer to achieving their financial goals.

Top Balance Transfer Cards of 2024

When it comes to paying off credit card debt, balance transfer cards can be a great tool to save money on interest charges. With so many options available, it can be difficult to know which card is the best fit for your needs. Here are the top balance transfer cards of 2024, broken down by category.

Best Overall

For those looking for a balance transfer card that offers a combination of a long intro period and low balance transfer fees, the Citi Simplicity Card is a great option. It offers a 0% intro APR for 21 months on balance transfers and purchases, with no annual fee and no late fees. The balance transfer fee is 3% or $5, whichever is greater.

Best for Long Intro Period

If you need more time to pay off your balance, the Discover it Balance Transfer Card is a great choice. It offers a 0% intro APR for 24 months on balance transfers and 6 months on purchases, with a balance transfer fee of 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)* and no annual fee. Plus, cardholders earn cash back on purchases and there’s no penalty APR if you miss a payment.

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Best for Rewards

For those who want to earn rewards while paying off their balance, the Chase Freedom Unlimited Card is a great option. It offers a 0% intro APR for 15 months on purchases and balance transfers, with no annual fee and a balance transfer fee of 3% or $5, whichever is greater. Plus, cardholders earn unlimited 1.5% cash back on all purchases.

Best for No Annual Fee

If you’re looking for a balance transfer card with no annual fee, the BankAmericard Credit Card is a great option. It offers a 0% intro APR for 18 billing cycles on balance transfers and purchases, with a balance transfer fee of 3% or $10, whichever is greater. Plus, there’s no penalty APR if you miss a payment.

Best for Low Balance Transfer Fee

For those who want to minimize their balance transfer fees, the Amex EveryDay Credit Card is a great option. It offers a 0% intro APR for 15 months on balance transfers and purchases, with a balance transfer fee of 2.7%. Plus, cardholders earn rewards points on purchases and there’s no annual fee.

Understanding 0% Intro APR

How 0% Intro APR Works

Zero percent introductory APR (Annual Percentage Rate) is a promotion offered by credit card companies to attract new customers. This means that for a certain period of time, usually between 12 and 18 months, the cardholder will not be charged any interest on the balance transferred to the new card. The interest-free period starts from the date the account is opened, and any balance remaining after the introductory period will be subject to the regular interest rate.

Benefits of 0% Intro APR

The primary benefit of 0% introductory APR is that it can save the cardholder a significant amount of money in interest charges. By transferring a high-interest balance to a card with a 0% introductory rate, the cardholder can pay down the balance faster and save money in interest charges. Additionally, some balance transfer cards offer rewards and cashback incentives, which can further maximize the cardholder’s savings.

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Common Misconceptions

One common misconception about 0% introductory APR is that it is a permanent rate. However, after the introductory period ends, the regular interest rate will apply to any remaining balance. It is important for cardholders to pay off their balance before the end of the introductory period to avoid paying interest on their balance.

Another misconception is that all balance transfer cards are the same. However, each card may have different terms and conditions, such as balance transfer fees, annual fees, and rewards programs. It is important for cardholders to carefully review the terms and conditions of each card before applying to ensure that they are getting the best deal for their needs.

Overall, understanding 0% introductory APR can help cardholders make informed decisions when choosing a balance transfer card. By taking advantage of this promotion, cardholders can save money on interest charges and pay down their balance faster.

Strategies for Maximizing Balance Transfers

When it comes to balance transfers, there are a few strategies that can help maximize their benefits. By following these tips, individuals can make the most of their 0% intro APR period and pay down their debt faster.

Paying Down Debt Before the Intro Period Ends

One of the most important strategies for maximizing balance transfers is to focus on paying down debt before the intro period ends. This means making larger payments than the minimum required each month. By doing so, individuals can reduce their overall debt and avoid interest charges once the intro period ends.

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Avoiding New Purchases

While it may be tempting to use a balance transfer card for new purchases, it’s important to avoid doing so. Most balance transfer cards have a higher APR for new purchases, which can quickly accumulate debt and make it harder to pay off. Instead, individuals should focus solely on paying down their transferred balance during the intro period.

Transferring Balances from Multiple Cards

For those with multiple credit card balances, consolidating them onto one balance transfer card can be a smart move. This not only simplifies the payment process, but it can also save money on interest charges. However, individuals should be careful not to exceed the credit limit on their balance transfer card, as this can result in fees and penalties.

By following these strategies, individuals can make the most of their balance transfer cards and pay down their debt faster. It’s important to remember that balance transfers are not a quick fix for financial problems, but rather a tool to help individuals get back on track.

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