(Updated 1/18/10) While 0% balance transfer offers have become harder to find, you'll find a list of the top 0% APR deals here. While the credit crunch eliminated many balance transfer credit cards, the good news is that several 12-month offers have recently become available. The best offer is now the the Citi Platinum Select 0% offer, which includes 0% APR for up to 12 months on balance transfers and purchases. It's unclear how long these offers will last, particularly with changes in the credit card laws. But for now, here are the top offers currently available:
 Discover More Card Best Cash Back 5% Cash Back on Select Categories, 0% APR |  Citi Platinum Select Top 0% Offer 0% APR for up to 12 months! |
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The holy grail of credit card offers is the 0% APR on balance transfers for 6 to 12 months. These types of credit cards were common a couple of years ago. As the credit markets deteriorated, however, balance transfer fees went up and the 0 APR periods got shorter. But these six to 12-month 0% balance transfer offers still exist, if you know where to look. One of the best offers available today is the Discover More Card. Here are the key features of the card.
0% Balance Transfer for 12 Months
The Discover More Card is one of the few credit cards still offering a twelve month balance transfer at 0%. In fact, Discover had recently reduce the balance transfer period on all of its cards to six months. But this month, they increased just the Discover More Card back to 12-months. The transfer does come with a 5% balance transfer fee, but even at that price the card represents once of the lowest cost ways to borrower money for a year.
In addition to the balance transfer, the card also offers up to 5% cash back and no annual fee. Here are the details:
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The Citi® Platinum Select® Card is another card that offers a no interest balance transfer for up to 12-months. And transferring high interest rate balances is easy. After receiving your card, you may call our customer service number to transfer your high rate balances. Cardholders may transfer any amount, but the total amount including any balance transfer fee must be less than the available credit line. Once Citi approves the balance transfer, they pay the amount of the balance transfer directly to that issuer.
Citi Platinum Select also comes with a 0% APR on purchases for up to 12 months. With these features, all purchases for up to 12 months are interest free. And even after the introductory period expires, the regular APR is as low as 11.99% V.
The card also comes with several other features worth noting:
- No annual fee
- Citi® Identity Theft Solutions
- $0 Liability on unauthorized purchases
- Secure, free online account management
- Extra Cash from Citi: Enjoy Significant Discounts on Gift Cards, Travel, Merchandise, and More.
Here are the details on the Citi Platinum Select:
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For more information on these 0% balance transfer offers, here is a video clip we produced recently:
Still haven't found the balance transfer offer you're looking for? Check out more balance transfer offers at CreditCards.com - Click Here for additional Balance Transfer Credit Card Offers
{ 14 comments… read them below or add one }
Any update yet Dave? When you received the cards were the terms different from the offer? What kind of credit line did they offer you at the outset? Thanks!
Sorry I didn’t get back to you sooner…
I received the checks within two weeks of asking for them (about a week ago), and the cover letter did not list the 0% fee. So, I called Citi again and talked to Priti the customer service rep this time. She seemed genuinely surprised that I had no transfer fee — “that is a very good deal, sir”.
The important part was that she confirmed that I had no balance transfer fee, the balance transfer rate is 0% until Feb 2010, and I could write the check for any amount up to my credit limit.
Since I had two verbal confirmations (Aftib in February and Priti just a few days ago), I decided to take the plunge and wrote a check for $14,000. I just put it in the mail a couple days ago, so it hasn’t cleared yet. When it does, I’ll know for sure that the zero fee is real. I’ll try to post again when I see it.
I found one other confirmation of the zero fee: I set up an online account at citibank.com, clicked the “View your balance transfer offer” link, and it shows “Balance Transfer Fee: NO FEE”. I feel much better seeing that in print. I still think its odd that the paperwork they mail to me doesn’t say it, but I guess since it is a special offer, they just don’t do that.
A lot has happened since March 2009, and I wanted to give you a quick update on cards with 0% balance transfer for 12 months offers. In short, the credit crunch and the Credit Card Act of 2009 have caused many credit card companies to cut back their 12 month balance transfer offers. There are still good offers to be found, but the terms aren’t as rich as they once were. In fact, some balance transfer cards now come with transfer fees as high as 5%! The Citi Platinum Select MasterCard is still one of the top offers, with a 0% balance transfer for 6 months. I’ll keep you posted as new balance transfer offers become available.
I followed the link you provided and noticed in the Term that there is a 3% Balance Transfer fee. Have the terms changed in the last 2 weeks?
SK, credit card and balance transfer terms do change frequently. As of today, I am not aware of any no fee balance transfer offers.
With the Citi card, will they still allow you to do the Balance Transfer as a check or direct transfer to a checking or savings account? The reason I ask is that I would only need it to pay off a 401(k) loan and a 0% BT offer would be a great way to go, but obviously, there is no direct transfer. I would need the cash and then I would pay off the loan. If Citi does not do this, then I would have not use for getting another Credit Card at all.
Thanks for any info.
P.S. – I must pay off the 401(k) loan within 60 days – this seems to be a good way to do it without taking the tax hit and 10% penalty…
Sorry to say, but people reading this kind of website should be very clear on the “BALANCE TRANSFER FEES” which are 3-5%. Not bad, but you pay for the interest on your whole tranfer upfront!! IT goes on top of your principal.
The Discover offer up there has a 5% balance transfer FEE. Then you have the problem if you do miss a payment, then your APR could go as high as 25%.
In other words, BEWARE and READ ALL THE FINE PRINT before you take a chance on doing this. you might not get yourself that far ahead (of course , 5 % is much better than 25% like a lot of cards out there, just FYI.()
By the way, some info on offers that do allow you to use a check would be fabulous. Those are easiest to refinance loans of all kinds . . . any info would be great.
Thanks for the info on this website
Dwayne
Good points. I am well aware of the up front fees. To me 3% is better than a 10% early withdrawal fee for a 401(k) loan becoming a distribution. Not to mention the idea of making my 401(k) whole again. I had previously contacted Discover and they had said that this type of transaction would not be possible – they could ONLY pay off other Credit Cards… however, I cannot find a contact number for the Citi card. “DR” emailed me and is looking into the possibility of this. As a side note, I would be able to pay off the total balance after the first of the year, but the 401(k) loan must be paid off within 60 days or I get hit with the taxes and early distribution penalty – ouch…
It’s so hard any more to find a card that has 0% for any length of time. Thanks for sharing this!
Balance transfer offers have been harder and harder to find. Fortunately, both Discover and Citi still offer 12-month transfer deals. The question is how long will they last.
Hi Dave,
I was wondering what the new federal regulations/laws for credit card companies coming up in February will have on the richness of these balance transfer offers if any?
Thanks!
Leslie
Leslie, I think any effect the new law will have on balance transfer offers has probably already happened. As you may know, the new law does change how credit cards apply payments when part of your balance is at 0% and part of it is at the regular APR. That can happen when you do a balance transfer and make regular purchases on the card. After the law goes into effect, credit card companies must apply any payments above the minimum to the highest rate first.
This will reduce the money card companies make on balance transfers, which is in part why we saw so many 12-month offers go away. Some have come back now, and are listed on this page. While I don’t think the law going into effect in February will cause any new changes to balance transfer deals, but who knows how long they will last.