Question: What credit card provides the longest 0% APR introductory rate for balance transfers with the lowest transfer fee?
Answer: I'm glad you asked both halves of a question that most consumers don't fully consider. Now that the credit card industry has stabilized, we're starting to see some generous zero-percent annual percentage rate (APR) balance transfer credit card offers again, ranging from three months to nearly two years.
However, many banks now impose a balance transfer fee of up to 5 percent, added to your balance at the front end of the transfer. If you're paying anything more than that transfer fee as an annual percentage rate on your old card, you're still saving money. But the days of surfing balances fee-free from card to card are long over.
That said, if your credit score is good to excellent you may qualify for some great balance transfer deals. Check out our picks for top balance transfer credit cards.
Regardless of the length of a promotional balance transfer offer, remember to review the fine print to make sure you're not on the hook for extra finance charges at the end of your promotional period. For all offers review the online credit card application for full terms and conditions on offers and rewards.