0% Balance Transfer Offers–A Big List of 0 APR Balance Transfers

Recently I've received a lot of questions from readers about balance transfer offers. Here are just a few of the questions over the last week or so:

• Are no fee balance transfers a better deal than those that charge a transfer fee?
• Do you get your transfer fee back if you pay off the balance before the introductory rate expires?
• Are there balance transfer deals that offer direct deposit or checks, rather than paying off another credit card?
• Is a 0% balance transfer deal for 12 months with a 3% transfer fee a better deal than a fixed rate 7.99% card

And of course, I get questions from folks simply wanting to know what offers are available. Some time ago I put together a list of balance transfer credit cards, and I keep that list updated. But in light of the questions that have been coming in, it seemed like a good time to assemble an even bigger list of 0% balance transfer offers. So below is the list, followed by answers to some of the more common questions about balance transfers.

Discover Balance Transfer Offers

Discover credit cards offer both 0% APR balance transfers and some of the best cash back rewards available. I've carried the Discover More card for years, and use it today for everyday purchases to take advantage of up to 5% cash rewards. But the cards also come with a competitive transfer offer, that was just recently increased to 12 months.

Discover American Flag Card (Editor's Choice): Discover recently increased the balance transfer term on the American Flag edition of the Discover More card to 12 months. Discover's move to lengthen the term of its transfer offer comes while many credit card issuers are shortening or even eliminating zero percent offers. As with the Discover More card, this card also comes with up to 5% cash back and no annual fee.

Discover More Card: This is Discover's flagship card, offering a 6-month 0% balance transfer and up to 5% cash back on select categories of purchases that change every quarter. One of the benefits is that Discover picks 5% categories that coincide with the time of year. For example, they pay 5% cash back on travel related expenses during the summer, when many are on vacation. We used this card on our vacation this summer, and saved hundreds of dollars with the cash back feature.

Biodegradable Discover® More Card: The card has the same terms as the Discover More card, including the 0% balance transfer offer. The difference is that the card itself is made of biodegradable plastics that will break down within five years in landfill conditions. One wonders why all credit cards aren't made of this environmentally friendly material.

Other Editions of the Discover More Card: Discover has released the More Card in several different editions, each with the same 0 balance transfer offer and cash back rewards. Each card also has no annual fee. While the terms of the cards are the same, they look different. Here are the options:

• Discover More Card--Monogram Edition: As the name suggests, you can add your own initial to the card.
  
  

  Discover More Card--Monogram

• Discover More Card--Wildlife Edition: This comes with several different wildlife pictures to choose from.
  
  

  Discover More Card--Wildlife

• Discover More Card--Sealife Edition: As with the wildlife edition, sealife also comes with several picture choices.
  
  

  Discover More Card--Sealife

• Discover More Card--Clear: With the Clear edition, you can choose from several different designs. The one below is my favorite.
  
  

  Discover More Card--Clear

Citi 0% Balance Transfer Offers

Citi has several BT offers worth considering, which generally are 0% for 6 month deals. Here are the offers, with explanations for how each card works.

Citi Platinum Select MasterCard: I've carried this card for years, and found it to be a great overall credit card. It doesn't come with many rewards, but it does offer a 0% balance transfer for 6 months, 0% on purchases for six months, and a competitive interest rate thereafter. This card is a good option for those looking for a basic credit card. I've also found that once you are a cardholder, Citi makes various balance transfer offers depending on your credit history and card use.

Citi Forward Card: The Citi Forward card offers a unique approach to credit cards. First, it comes with a 6 month 0% balance transfer feature, and 6 months 0% on purchases. On top of that, the Citi Forward card rewards cardholders for using the card responsibly. For example, make a purchase, stay under your credit line and pay on time 3 billing periods in a row and reduce your purchase APR. If you want more details, check out this review of the Citi Forward card.

Chase No Interest Transfer Offers

Chase has recently introduced several new cards, including Slate and Sapphire. These cards offer a variety of 0% introductory rates and rewards.

Slate from Chase: The Slate card is the newest credit card from Chase. The card offers a no interest balance transfer ranging from 3 months to 12 months. The length of the balance transfer depends on the creditworthiness of the applicant, and you won't know which BT you qualify for until after a decision has been made on your application.

Chase Freedom: The Freedom card comes with a 0% balance transfer offer ranging from 6 to 12 months, again depending on credit score and credit history. The card also offers $50 cash back after the first purchase.

Capital One Balance Transfer Deals

While Capital One did away with many of its balance transfer offers, it still has some cards with BT offers. The cards listed below require excellent credit to qualify:

No Hassle Miles Rewards Credit Card: The No Hassle Miles card is best known for its travel rewards. But the card also comes with a 0% balance transfer offer good for 12 billing cycles. Of course, if you max out the card with a balance transfer, you won't be able to take advantage of the travel rewards until the transferred balance is paid down.

Capital One Platinum Prestige: The Platinum Prestige is a no frills card that offers 0% on both purchases and balance transfers for 12 billing cycles. The card has no annual fee.

Bank of America 0 APR Percent Balance Transfers

BankAmericard Power Rewards® Visa Signature® Card: With the Power Rewards card, you get 0% APR on balance transfers for either 7 or 10 billing cycles, depending on credit. With the card you can also earn triple points on gas, grocery and drug store purchases for the first 6 months.

Bank of America® Accelerated Cash Rewards™ American Express® Card: The Accelerated Cash Rewards card also offers a 7 to 10 billing cycles 0% BT. In addition, the card offers 1.25% cash back on purchases.

Reader Questions

Now let's turn to some of the questions I've received from readers recently about balance transfer offers.

Will a credit card company refund the balance transfer fee if the balance is paid in full before the 0% introductory rate expires?

I wish it were so, but unfortunately, no. Once the balance transfer fee is paid, there is no way to get the money back. The fee is gone even if you repaid the balance in full the very next day.

Are no balance transfer deals better than those that require a fee?

It depends on your specific circumstances, but generally no. All no fee balance transfer deals today charge interest on the amount transferred from day one. These cards are usually low interest cards with rates in the 7% to 9% range. While the interest rate is low compared to most cards, it still exceeds the fee on most 0% balance transfer offers. If you plan to transfer a balance and pay that balance off over a long period of time (and long after any 0% deal has expired), these no fee options may be worth considering. Keep in mind that these cards require excellent credit to qualify.

Can you get balance transfers by check or direct deposit?

Generally, no. Bank of America does offer direct deposit of a balance transfer, but the deposit must be to a BofA bank account. However, I spoke with a Discover representative, and they informed me that you can use a balance transfer deal to pay off more than just credit card debt. You'll have to provide information to Discover about the debt you want to pay off, but the Discover representative confirmed that you can transfer balances such as car loans, school loans or home equity lines of credit to a Discover card.

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