The Balance Transfer Card Best Credit Cards
If you’re looking to improve your credit score and get a better interest rate on your loans, a balance transfer card could be the answer for you. We’ve put together a list of the best credit cards we’ve found for 2019, all of which offer great balance transfer rates and other benefits. Whether you’re looking for a card that allows you to carry high-interest debt, or one with good rewards programs, our list has something for everyone. So whether you need to consolidate debt or build up your credit rating, read on to find the best balance transfer card for you!
What is a Balance Transfer?
A balance transfer is when you move your existing debt from one credit card to another. This is a great way to help improve your credit score and get lower interest rates on new debt. Balance transfers are usually excluded from the 0% APR offers that many cards offer, but there are a few exceptions.
Here are our top five balance transfer cards:
1. The Chase Sapphire Preferred® Card: If you’re looking for the best overall balance transfer card, the Chase Sapphire Preferred® Card is definitely it. Not only does it have an excellent rewards program, but it also has an excellent 0% APR offer for both new and existing balances.
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2. The Citi Simplicity™ Card: Another great option is the Citi Simplicity™ Card, which offers a 0% APR on Purchases and Balance Transfers for 18 months*! Plus, its rewards program is one of the most generous out there – offering 2 points per dollar spent on all purchases, not just those in categories associated with travel or dining.
3. The American Express® Platinum Credit Card: If you’re looking for an extremely high-end card that offers some of the best benefits available, look no further than the American Express® Platinum Credit Card – which also has a great 0% APR offer for both new and existing balances.
4. The Capital One Quicksilver® Cash Rewards Credit Card: If you’re looking for a simple and straightforward card that’ll give
What Are The Benefits of a Balance Transfer?
A balance transfer card is a great way to improve your credit score and get lower interest rates on new purchases. Here are the benefits of using a balance transfer card:
1. It can reduce your overall interest rate.
2. It can help you build or rebuild your credit score.
3. It may allow you to qualify for favorable rates on new loans or credit cards.
4. You won’t have to pay any interest on the transferred debt until the original debt has been paid off in full.
5. You may be able to qualify for a 0% introductory APR if you make minimum repayments on your transferred debt during the introductory period.
How Do You Choose the Right Balance Transfer Card?
Looking to transfer your high-interest debt to a lower-interest card? Here are the five balance transfer cards with the best interest rates according to The Balance Transfer Card Best Credit Cards We Found.
1. Chase Slate: 0% for 15 months and then variable APR of 13.24%-23.99%.
2. American Express Platinumcard: 0% for 18 months and then variable APR of 14.24%-26.24%.
3. Citi Double Cash: 0% for 12 months and then variable APR of 15.24%-25.99%.
4. Wells Fargo Propel World Mastercard: 0% for 18 months and then variable APR of 16.49%-29.49%.
5. JCPenney CareCredit Card: 0% for 12 months and then variable APR of 17.74%-28.74%.
Which Credit Cards Are Best for Balance Transfers in 2019?
One of the best things about credit cards is that you can use them to slowly pay down your debt. A balance transfer card allows you to do just that by transferring a large chunk of your outstanding balance from one card to another.
There are a few things to keep in mind when choosing a balance transfer card: the interest rate, the minimum monthly payments and how many months you have to make those payments before the balance is transferred. Here are five of the best cards for balance transfers in 2019:
1. Chase Slate® Credit Card – This card offers an introductory 0% APR on qualifying balances transferred within 60 months from account opening, although there is a 3% balance transfer fee applied. The 0% APR also applies to purchases, which makes it ideal for moving high-interest debts such as mortgages or car loans onto plastic. There’s no annual fee either, so this card would be great for someone looking to consolidate multiple debts into one place.
2. American Express Platinum® Card – This card has an introductory 0% APR on transferred balances until December 31, 2021 and then a variable APR of 15-24%. Minimum monthly payments of $10 are required during the first 12 months after transferring your debt, but after that they drop down to $5 per month if paid on time. There’s no annual fee associated with this card either, making it one of the more affordable options out there for those looking to move their debt over to plastic.
Conclusion
It’s that time of year again where people are thinking about what they’re going to do with their Christmas money. If you’re like most people, you probably have a number of items on your holiday wish list, but one thing that may be forgotten is the cost of those pesky credit card bills. That’s why we’ve put together this list of the best balance transfer cards available right now. With rates as low as 0% on some cards and no interest for up to 12 months, it might be worth considering moving your debt from one card to another in order to save some cash each month. So what are you waiting for? Check out our list and see which card suits your needs. See More
