Factors that put it over the top for its best-in-class status include a no-late-fee policy for occasional tardy payments, a lengthy 21-month zero interest promotional period, and no annual fee.
The card has the longest no-interest promotional period in the market right now, letting folks chip away at debt for almost two years without paying any interest. That’s almost double the amount of time as any other balance transfer card offers.
In second place was the Citi Double Cash card, which gives cardholders 18 months to transfer a balance, and which only charges a 3 percent fee for balance transfers. The Double Cash card also offers a rewards program, giving members two percent cash back on every dollar they spend, anywhere, as long as they pay their balance in full each month.
The third place winner was the Barclaycard Arrival Plus World Elite Mastercard. This card lays on the rewards, giving new cardholders 40,000 bonus miles, which can be redeemed for up to $400 in free travel. It also gives folks two miles for every dollar they spend on the card. The balance transfer offer is good for a full year without interest, and the annual fee is a not-outrageous $89 per year.
When people are trying to pay off a balance and get their credit card debt down to zero, using a balance transfer offer is smart. It lets them put more of their money toward the actual debt, rather than paying interest on their balance. The balance transfer fee is almost always well worth paying, as the benefit really outweighs any negative of paying a small fee for the transfer.
Getting rewards along with the zero interest offer makes a great balance transfer card offer even better. Many cards that give people a generous balance transfer offer don’t offer a fantastic rewards program as well, so any card that does is automatically head and shoulders above the rest.
Smart money management means paying off debt, maintaining a healthy credit score, and making the most of your money by utilizing rewards programs that help you maximize the benefits of using credit. If you’re in the market for a balance transfer card, check out one of these three award-winners, or shop around for an offer that’s perfect for you.
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