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.

Discover® More® Card – Balance Transfer Fee*- The Discover More Card – Balance Transfer Fee 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 – Balance Transfer Fee 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 – Balance Transfer Fee, 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 – Balance Transfer Fee.

PenFed Premium Travel Rewards American Express® Card – PenFed has certainly made a name for themselves with the quality credit cards they’ve introduced in the last 12 months.  As it stands, the PenFed Premium Travel Rewards American Express Card offers an into APR of 4.99% on balance transfers for 24 months, with a 3% balance transfer fee ($250 max) which is the lowest on our list.  In addition, all cardholders will receive 20,000 bonus points when signing up and making $650 in purchases during the first three months.  You’ll also find an extensive travel rewards program and no annual fee with the PenFed Premium Travel Rewards American Express Card.

Discover® More® Card – The first of two cash back credit cards, the Discover More Card still offers an intro offer on balance transfers of 0% for 15 months, as well as on purchases for 15 months AND the balance transfer fee is only 3%.  The rewards program of this card, and the long duration balance transfer Discover More Card are identical, meaning you’ll earn 0.25%/1% cash back on all purchases and 5% cash back on rotating categories throughout the year.  The Discover More Card  has no annual fee.

Citi® Dividend Platinum Select® Visa® Card – $100 Cash Back – With only a 3% balance transfer fee (no max and $5 minimum) the Citi Dividend Platinum Select Visa Card – $100 Cash Back made our best 0% balance transfer credit card list.  The intro offer on balance transfers AND purchases is 0% APR for 12 months and like the Discover More Card and Chase Freedom Visa – $100 Bonus Cash Back, this card offers 1% cash back on all purchases and 5% cash back on rotating categories throughout the year.  Right now, those 5% categories are Fitness club, healthcare and utilities purchases from 1/1/2012 to 3/31/2012 upon enrollment.  Each quarter, you can enroll to earn additional cash back in popular categories. The Citi Dividend Platinum Select Visa Card – $100 Cash back carries no annual fee and now includes $100 cash back after making $500 in purchases during the first three months.

Chase Freedom® Visa – $100 Bonus Cash Back – The Chase Freedom Visa – $100 Bonus Cash Back includes a 0% intro APR on balance transfers for 12 months and on purchases for six 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.

Related Posts:

• Top 0% Balance Transfer Credit Cards
• New Up to 18 Month Balance Transfer Credit Card Available: Citi CashReturns Card
• No Balance Transfer Fee Discover More Card Promo

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