Transfer Balance Cards With 0 Apr With No Transfer Fees

February Balance Transfer Credit Card Report From SmartBalanceTransfers.com

For the first time in more than six months the average length of 0% balance transfer offers, as well as the average balance of transfer fees, was unchanged from the previous month. However, Smart Balance Transfers foresees that average balance transfer durations will likely decline and average fees will likely rise in March when the only 24-month and no fee balance transfer offers disappear and there will be less incentive for other companies to offer excessively long promotions.

Discover's two limited time promotions are the primary reason the overall credit card balance transfer market remains so strong. Without these special promotions the average length of balance transfer offers would be almost as low as it was in September of 2010 – 10.8 months – and the average fee would be 3.47%. When these offers expire in savings on top of what can be saved with a 0% interest rate.

The second offer from Discover is the longest 0% APR balance transfer offer in February, and lasts 24 months. Although this card carries a 5% balance transfer fee, consumers who will need two years or more to pay off credit card debt are likely better off choosing this offer as they can likely save more in interest than they will spend on the upfront balance transfer fee.