Best Low Rate Credit Card Balance Transfer

Best Low Rate Credit Card Balance Transfer

Hello Arkana friends, welcome back to another informative article on personal finance. In today’s article, we will be discussing the top low rate credit card balance transfer options available in the market.

Why Transfer Your Balance?

Before we dive into the options, let’s understand the need for a balance transfer. Transferring your high-interest debt balance to a low or zero percent balance transfer card can save a lot of money in interest payments, reduce your debt faster, and even help improve your credit score.

Factors to Consider Before Choosing a Balance Transfer Card

There are several factors to consider before selecting a balance transfer card, such as the balance transfer fee, promotional interest rate, ongoing interest rate, credit score requirements, and rewards program. Now, let’s explore some of the best low rate credit card balance transfer options available.

Chase Slate

Chase Slate has been a popular choice for balance transfers due to its zero percent APR for 15 months on balance transfers and purchases. It also doesn’t charge a balance transfer fee during the first 60 days of account opening. However, you need excellent credit to qualify for this card.

Citi Simplicity

Citi Simplicity is another fabulous option that provides zero percent APR for 18 months on balance transfers and purchases. It also doesn’t charge an annual fee, late payment fees, or penalty fees. However, it charges a balance transfer fee of 5% or $5, whichever is greater.

Discover it Balance Transfer

Discover it Balance Transfer provides zero percent APR for 18 months on balance transfers and six months on new purchases. Additionally, it offers a rewards program where you can earn cashback rewards on categories that rotate quarterly.

Bank of America ® Cash Rewards Credit Card

Bank of America’s Cash Rewards Credit Card is a low rate balance transfer option that offers a zero percent APR for the first 15 billing cycles on balance transfers and new purchases. It also provides a cashback program where you can earn three percent cashback on gas, two percent on grocery stores, and one percent on all other purchases.

Wells Fargo Platinum Card

Wells Fargo Platinum Card provides zero percent APR for 18 months on both balance transfers and purchases. It doesn’t charge any annual fees and offers complimentary access to FICO credit score monitoring.

Conclusion

In conclusion, transferring your high balance to a low rate credit card balance transfer option can help save money on interest and pay off your debt faster. While choosing balance transfer cards, remember to consider factors like promotional and ongoing interest rates, balance transfer fees, credit score requirements, and rewards program.

Thank you for reading our article today. We hope you found it informative and useful. Please stay tuned for more exciting articles on personal finance. See you soon, Arkana friends!