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What credit card provides the longest 0% APR introductory rate for balance transfers with the lowest transfer fee?

By , CardRatings contributor
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    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 with these credit card offers:

    • Chase Slate®. Chase has also been beefing up its marketing, using its Slate brand and its Blueprint online banking technology to attract savings-conscious consumers. New Chase Slate® applicants with good to excellent credit may qualify for 15 months at 0 percent introductory APR on purchases balance transfers in addition as an introductory offer there is a $0 Intro Fee on transfers made within 60 days of Account Opening. After that for future balance transfers the balance transfer fee is either $5 or 5 percent of the amount of each transfer, whichever is greater.
    • Discover it® - 18 Month Balance Transfer Offer. Discover's offering consumers with excellent credit the opportunity to transfer balances onto a Discover it® - 18 Month Balance Transfer Offer card. New cardholders may qualify for 18 months at 0 percent introductory APR on balance transfers, with a balance transfer fee of 3 percent of the amount of each transfer. Be sure to check the Discover online credit card application for full terms and conditions on offers and rewards.

    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.

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