The Best 0% Balance Transfer Credit Cards of 2012

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If you’ve checked your FICO credit score recently and haven’t been happy with the results, one of the factors that could be bringing your credit score down is your used to available credit percentage.  When creditors see that your credit cards have been maxed out, it implies that you’re in need of more credit and that you’re having trouble meeting your financial needs.  One way to alleviate the burden is to apply for a 0% balance transfer credit card, and reduce the amount in interest being paid every month.

Choosing which 0% balance transfer credit card best suits your needs can be tricky.  Some offer a low balance transfer fee while others have extended 0% intro offers beyond 12 months.  Whether it’s a long balance transfer term or cash up front to help you out, we’ve compiled a list of the best 0% balance transfer credit cards.  They come from a variety of issuers and if you have any experience with these cards, we’d love to hear about it in the comments section below.

PT’s Pick for Best 0% Balance Transfer Credit Card

Citi® Platinum Select® MasterCard® – In my opinion, the best balance transfer credit cards continues to be the Citi Platinum Select MasterCard as it  has the longest intro offer of 0% intro APR during the first 18 months.. The balance transfer fee is actually one of the smallest around at 3% ($5 minimum) and with the Citi Platinum Select MasterCard, you’ll find an intro rate of 0% intro APR on purchases for a  full 18 months.  That’s just straight up awesome for anyone new to credit who needs almost two years to make interest free payments!  Unfortunately, the rewards program on this card is almost non-existent (as it only provides discounts on special purchases) but the Citi Platinum Select MasterCard does not carry an annual fee.

New Slate® from Chase – No Balance Transfer Fee – The Slate from Chase is offering a 0% intro APR on purchases and balance transfers for 15 months and is current not charging a balance transfer fee!  After the intro rate has expired, the standard APR becomes 11.99% – 21.99% variable depending on your credit history.  In order to receive the fee free transfer, you must transfer your existing credit card balance within 30 days of being approved for the Slate from Chase.  There is no annual fee.

Discover® More® Card – The Discover More Card is a close second on our list, as they offer a 0% into APR on balance transfers for 18 full months, as well as a 0% intro APR on purchases for 6 full months.  The balance transfer fee is 3% of each transfer (no maximum) and even with an 18 month balance transfer option, the Discover More Card comes with a high quality rewards program.

0.25% cash back is earned on all purchases for the first $3,000 spent annually, then 1% cash back on all purchases after that.  With the Discover More Card, 5% cash back can be earned on rotating categories throughout the year, and as of today, the categories are Gas and Entertainment.  Last but not least, there is no annual fee with the Discover More Card.

Chase Freedom® Visa – $100 Bonus Cash Back – The Chase Freedom Visa – $100 Bonus Cash Back includes a 0% intro APR on balance transfers and purchases for 15 months.  The balance transfer fee is 3% ($5 minimum) and to earn the $100 cash back, you must spend at least $500 during the first three months of card ownership.  In addition, the Chase Freedom Visa – $100 Bonus Cash Back offers cardholders 1% cash back on all purchases (no tier level) and 5% cash back on rotating categories throughout the year.  There is no annual fee to acquire this card.

Citi Forward® Card – The honorable mention section of our list, the Citi Forward Card offers cardholders a 0% intro APR on balance transfers for 12 months and on purchases for 7 months.  The balance transfer fee is 3% and if you pay your bills on time each month, you can reduce your APR by a full 2% (purchase APR only).  10,000 bonus Thank You points can be earned by making $650 in purchases and signing up for paperless statements in the first three months and with an extensive rewards program, the Citi Forward Card should be on every credit card list.  Finally, this card does not have an annual fee.

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