Best And Longest Balance Transfer Credit Cards

The Best Balance Transfer Credit Cards: A Complete Guide

What You Need to Know About Balance Transfer Credit Cards

Hello Friends,

Are you tired of high-interest credit card debt? If the answer is yes, then a balance transfer credit card can be a lifesaver. These cards allow you to transfer your current high-interest credit card debt onto a card with a lower or even zero percent APR for a set amount of time. This can save you thousands of dollars in interest payments while giving you much-needed breathing room to pay off your debt.

However, not all balance transfer credit cards are created equal. It’s essential to do your research and find the best card for your individual needs. In this guide, we’ll take a comprehensive look at the best balance transfer credit cards of 2019 and why they stand out from the crowd.

The Benefits of Balance Transfer Credit Cards

Before we dive into the best balance transfer credit cards, let’s take a closer look at the benefits of using one.

First and foremost, balance transfer credit cards can save you money. By transferring your high-interest debt onto a card with a lower rate, you’ll be paying less interest and more principal. This can add up to significant savings over time.

Second, balance transfer credit cards can help you pay off your debt faster. Lower interest rates mean more of your payment goes towards your principal, helping you pay off your balance more quickly.

Finally, a balance transfer credit card can simplify your finances. By consolidating your high-interest debt onto one card, you’ll have one monthly payment instead of juggling multiple bills with different due dates and varying interest rates.

What to Look for in a Balance Transfer Credit Card

When shopping for a balance transfer credit card, there are several factors to consider:

– Balance transfer fee: Almost all balance transfer credit cards charge a fee to transfer your debt. Usually, this fee is a percentage of the balance you’re transferring. Look for cards with lower fees to save money.

– Length of promotional period: The length of time that you have to pay off your balance at 0% interest can vary from a few months to over a year. The longer the period, the more time you’ll have to pay off your debt interest-free.

– Regular APR: Once the promotional period is over, your balance will accrue interest at the card’s regular APR. Look for cards with a lower standard interest rate to save money in the long run.

– Credit score requirements: Some balance transfer credit cards require excellent credit scores, while others are more forgiving. Be sure to check the requirements before you apply.

The Best Balance Transfer Credit Cards of 2019

Now that you know what to look for in a balance transfer credit card let’s take a look at our list of the best cards for 2019.

1. Citi Simplicity

Citi Simplicity is an excellent choice for those who want a long 0% APR period without the fees and penalties that come with other offers. With Citi Simplicity, you’ll have 21 months to pay off your balance interest-free. Plus, there’s no annual fee, no late fees, and no penalty APRs. However, keep in mind that Citi Simplicity requires excellent credit to qualify.

2. Chase Freedom Unlimited

Although Chase Freedom Unlimited doesn’t have the longest promotional period, it is an excellent option for those who want to earn rewards while paying off their balance. With Chase Freedom Unlimited, you’ll earn 1.5% cashback on all purchases, and you’ll have 15 months to pay off your balance at 0% APR. Plus, there’s no annual fee, and the credit score requirements aren’t as strict as some other cards.

3. American Express Everyday

The American Express Everyday card is another option that offers both balance transfer perks and rewards. You’ll have 15 months to pay off your balance interest-free, and you’ll earn rewards points for every dollar you spend. Plus, the card has a low standard interest rate, and there’s no annual fee. Keep in mind that American Express may require higher credit scores to qualify for this card.

4. Wells Fargo Platinum Card

Wells Fargo Platinum offers a long 0% APR period and no annual fee or penalty APRs. You’ll have 18 months to pay off your balance interest-free, and there’s a low balance transfer fee of 3% (with a $5 minimum). This card is an excellent choice for those with good credit who want a straightforward balance transfer option.

5. Discover it Balance Transfer

Discover it Balance Transfer is another card that offers rewards for paying off your balance. With Discover it Balance Transfer, you’ll earn cashback on every purchase and enjoy 18 months to pay off your balance at 0% APR. There’s also no annual fee and no penalty APRs. However, Discover may require good to excellent credit to qualify for this card.

Conclusion

In conclusion, a balance transfer credit card can be an excellent tool for those struggling with high-interest debt. With a lower interest rate and more time to pay off your balance, you can save money while simplifying your finances. When shopping for a balance transfer credit card, be sure to consider the balance transfer fee, length of promotional period, regular APR, and credit score requirements. By doing your research and choosing the right card for your needs, you can take control of your debt and achieve financial freedom.

Thank you for reading this guide to the best balance transfer credit cards! We hope you found it helpful. Don’t hesitate to leave a comment below with any questions or comments you may have. Until next time, happy saving!

Best And Longest Balance Transfer Credit Cards

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