The global recession that the United States and the rest of the world have been mired in has been dragging on. While certain signs point to the economy improving slowly, many people have had to resort to using their credit card for more purchases than they had originally planned for, just to make ends meet. One thing to keep in mind if you are stuck with a significant amount of credit card debt, however, is that you can consolidate your debt with a good 0% on balance transfers credit card so that you can avoid paying exorbitant interest fees for a period long enough to get back on your feet. This year, several credit cards have stood out to me as featuring exceptional balance transfer offers.
Here are the top three 0% APR balance transfer credit cards of 2012:
1. Discover® More Card – The Discover More Card is a great choice for those looking to transfer a balance because it offers 0% APR on balance transfers for a year and a half… 18 months to be exact. That’s a whole lot of time. In addition, the card does not require any annual fee to use, and Discover offers a 5% cash back bonus on purchases in categories that rotate every three months such as gas, travel, groceries, restaurants, entertainment, and more. Lastly, the Discover More Card offers 0% APR on purchases for the first six months you own the card as well.
2. Slate® from Chase Card – The Slate from Chase offers 0% interest on balance transfers and spending for a full 15 months. In addition, a great feature of the Slate from Chase is that it offers free balance transfers. You read that correctly. There is no fee for balance transfers when using the Slate from Chase card. After the 15-month introductory period, the purchase interest rate becomes 11.99% – 21.99% (variable.)
3. Citi Simplicity® Card – The Citi Simplicity card is another great choice for people looking to consolidate debt with a balance transfer. That’s because the Citi Simplicity card also offers 0% APR on balance transfers and purchases for a full 18 months. The Citi Simplicity card also requires no annual fee to own. The only reason this card is not higher on this list is because it charges a 3% balance transfer free, and requires a $5 minimum.
In conclusion, you shouldn’t be paying a ton of interest fees on your credit card debt when you don’t need to. If you do not act to consolidate your debt, you could see your debt increase every month just because of the extremely high interest fees that credit card companies are charging these days. There are definitely other balance transfer credit cards that can get the job done as well, but these are my favorite three of 2012.