There are several contenders for our overall balance transfer card winner. While some cardholders might be drawn to a long, low introductory APR, others might be thinking of ways to get perks out of a card once his or her balance is paid off.
After considering all advantages of various cards in this category, the Chase Slate® card (this card is not currently available on CardRatings) and BankAmericard® Credit Card are almost interchangeable in terms of offering the widest appeal to the greatest number of cardholders.
Credit Required Excellent/Good
Balance Transfer Intro APR0% Intro APR
Balance Transfer Intro Periodfor 15 billing cycles for balance transfers made in the first 60 days
Balance Transfer Fee$0 Intro balance transfer fee for the first 60 days your account is open. After that, the fee for future balance transfers is 3% (min. $10).
Intro APR0% Introductory APR on purchases
Purchase APR12.99% - 22.99% Variable APR on purchases
Deep Dive: The BankAmericard® Credit Card offers 15 billing cycles of zero interest on purchases and balance transfers made within the first 60 days. Plus, with no balance transfer fee for those transfers made in the first 60 days, this is on equal footing with the Chase card above.
Sure, Chase Slate® has been a well-loved balance transfer option for several years, but BankAmericard® Credit Card recently upped its game.
With the BankAmericard® Credit Card, new cardholders are eligible for 15 billing cycles of zero interest on balance transfers made within the first 60 days of account opening. Plus, transfers made during that period will not incur balance transfer fees, which saves you the 3-5 percent of the amount of the transfer that most cards charge.
If you've already take advantage of the Chase Slate® offer, or if you have a balance on another Chase card that you'd like to transfer, this is an excellent option (you are not eligible for a 0 percent offer on one Chase card if you're transferring a balance from another Chase card). Furthermore, notice the ongoing APRs; it's actually LOWER with the BankAmericard® Credit Card than with Chase Slate®, so this card might have the edge on the Chase card if you anticipate needing more than the intro period to pay off your balance.
Credit Required Excellent/Good
Balance Transfer Intro APR0% Intro APR on Balance Transfers
Balance Transfer Intro Period15 months
Balance Transfer Fee$0 Intro fee on transfers made within 60 days of account opening. After that: Either $5 or 5% of the amount of each transfer, whichever is greater.
Intro APR0% Intro APR on Purchases
Purchase APR15.74%-24.49% Variable
Deep Dive: Chase Slate® offers a rare combination for you to save with a $0 introductory balance transfer fee, 0% introductory APR for 15 months on purchases and balance transfers, and $0 annual fee. Plus, receive your Monthly FICO® Score for free.
Branding Slate® as a source for "simple and convenient" money management, Chase has developed one of the country's highest-profile balance-transfer credit cards. Currently Slate® offer includes a zero-percent introductory APR for 15 months on both balance transfers and purchases.
Chase Slate® also offers a $0 Intro on transfers made within the 60 days of Account Opening. After that, you'll pay either $5 or 5% of the amount of each transfer, whichever is greater.
Slate® also includes access to Blueprint®, an online tool that allows Chase cardholders to plan how to pay down debt over time. One feature of Blueprint®, "Finish It," lets customers set their own deadline for reaching a zero balance. The software then suggests a new monthly payment to hit that deadline. On the other hand, a consumer budgeting a specific amount toward their debt can use the tool to project how long it might take to reach a zero balance.
By the way, if you've already taken advantage of this offer and are now looking for a similar option, the Barclaycard Ring™ Mastercard® offers the same balance transfer intorductory offer, complete with no balance transfer fee, except that transfers must be made within 45 days of opening the card to take advantage. More on this card below