April 2011 Best 0% Balance Transfer Credit Card Offers
April looks like it will be another good month for consumers seeking 0% APR balance transfer credit cards. As in March, a handful of major card companies are continuing to offer very long 0% balance transfer offers. Discover still leads the pack with a 24 month balance transfer card, but Citibank recently improved some offers, including a card that provides a 0% APR on balance transfers and purchases for 21 months.
While the balance transfer market is poised to remain strong in April, May could prove to be a turning point. Discover’s 24 month balance transfer offer was originally slated to end in February, but has been extended until the end of April. If Discover ends this offer, it is very likely other banks will reduce the length of balance transfer deals. For the time being, however, consumers have plenty of strong offers to choose from.
Best Balance Transfer Offers in AprilThe longest 0% APR balance transfer offer this month is still the Discover 24 month balance transfer. At 24 months, this card’s introductory rate is twice that of most competing offers. Unfortunately, there are two drawbacks to this card. First, it only carries a 0% APR on purchases for six months. This is problematic for consumers who intend to use their new card for purchases.
The second drawback is the balance transfer fee of 5%. While this fee essentially works out to be a 2.5% interest rate over two years, consumers who can pay their balances off sooner may be better off with a card that has a shorter intro period and lower transfer fee.
Although it carries a slightly shorter intro period, the Citi Platinum MasterCard is likely the best balance transfer offer available in April-and by far the best 0% APR credit card available. The Citi Platinum Card offers a 0% APR on balance transfers and purchases for 21 months and comes with a low 3% balance transfer fee.
On a $4,000 balance transfer, a person can save $80 in balance transfer fees compared to the Discover 24 month offer while only losing out on three months of 0% interest on balance transfers and gaining an extra 15 months of 0% interest for purchases. Another Citibank offering, the Dividend Card, is running a short term promotion through the end of the month. The Dividend Card provides a 0% APR on balance transfers and purchases for 15 months. Additionally, consumers who spend $500 within three months of opening an account get a $100 cash back bonus.
Like the Platinum Card, the Dividend Card charges a 3% balance transfer fee. However, with the $100 cash back bonus consumers can essentially offset the balance transfer fee on a $3,300 transfer and pay nothing to get a 0% APR for 15 months. This bonus make the Dividend Card ideal for consumers who don’t need 21 months or more to repay debt.
April 2011 Best 0% Balance Transfer Credit Card Offers
April looks like it will be another good month for consumers seeking 0% APR balance transfer credit cards. As in March, a handful of major card companies are continuing to offer very long 0% balance transfer offers. Discover still leads the pack with a 24 month balance transfer card, but Citibank recently improved some offers, including a card that provides a 0% APR on balance transfers and purchases for 21 months.
While the balance transfer market is poised to remain strong in April, May could prove to be a turning point. Discover’s 24 month balance transfer offer was originally slated to end in February, but has been extended until the end of April. If Discover ends this offer, it is very likely other banks will reduce the length of balance transfer deals. For the time being, however, consumers have plenty of strong offers to choose from.
Best Balance Transfer Offers in AprilThe longest 0% APR balance transfer offer this month is still the Discover 24 month balance transfer. At 24 months, this card’s introductory rate is twice that of most competing offers. Unfortunately, there are two drawbacks to this card. First, it only carries a 0% APR on purchases for six months. This is problematic for consumers who intend to use their new card for purchases.
The second drawback is the balance transfer fee of 5%. While this fee essentially works out to be a 2.5% interest rate over two years, consumers who can pay their balances off sooner may be better off with a card that has a shorter intro period and lower transfer fee.
Although it carries a slightly shorter intro period, the Citi Platinum MasterCard is likely the best balance transfer offer available in April-and by far the best 0% APR credit card available. The Citi Platinum Card offers a 0% APR on balance transfers and purchases for 21 months and comes with a low 3% balance transfer fee.
On a $4,000 balance transfer, a person can save $80 in balance transfer fees compared to the Discover 24 month offer while only losing out on three months of 0% interest on balance transfers and gaining an extra 15 months of 0% interest for purchases. Another Citibank offering, the Dividend Card, is running a short term promotion through the end of the month. The Dividend Card provides a 0% APR on balance transfers and purchases for 15 months. Additionally, consumers who spend $500 within three months of opening an account get a $100 cash back bonus.
Like the Platinum Card, the Dividend Card charges a 3% balance transfer fee. However, with the $100 cash back bonus consumers can essentially offset the balance transfer fee on a $3,300 transfer and pay nothing to get a 0% APR for 15 months. This bonus make the Dividend Card ideal for consumers who don’t need 21 months or more to repay debt.
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