Best 0% APR Credit Cards for March 2011
This month, major banks are continuing to offer the best and longest 0% APR balance transfer credit card offers. A lot of consumers with excellent credit history will be able to benefit from a lot of companies. Here is a quick look at the two best 0% APR Credit Cards for this month.
Citi Platinum Select Card
Citibank has a couple of balance transfer credit cards with above average 0% introductory periods and low balance transfer fees. Their Citi Platinum Select Card offers 18 months on balance transfers with a 3% transfer fee. This card also offers a 0% APR for 18 months on purchases, garnering it the longest deal available.
Discover Card
Due to its immense popularity, Discovery card is going to extend its promotion of offering the best rates in the market. Discover offers the longest 0% balance transfer this month, and provides a 0% APR for 24 months. Although it really does have an excellent deal, its only disadvantage is that its balance transfer fee (5%) is higher than most cards charge. Don’t be set back by this though, because even with this fee, consumers can still save a lot of money. They end up paying 2.5% interest for two years, whereas average credit card rates are a little over 14%.
Balance Transfer AGAIN to a 0% card-Pros
I have a 0% APR CC with chase for 16 months. The 0% expires in Sep. I still have a balance on this card and was thinking about balance tranferring again to a 0% Citi Dividend card for 9 months.
I wanted to cancel my chase because its difficult managing 3-4 cards. I have only had the chase card for 16 months.
How badly will this affect my FICO score? Will it affect my score at all?
Are there any pros and cons in doing this? Thanks everyone.
If the credit limit on your Citibank card is less than the credit limit on your Chase card, your credit scores will take a small hit since the utilization figure for that card will be higher than the utilization figure for the Chase card. If the credit limit is larger, your score will go up a bit. *****uming you’re using less than 90% on the cards, I doubt your score would be affected by more than 10 points–probably less. I can’t think of any other adverse affect by transferring the balance.
As far as not being able to handle 3-4 cards, that’s an issue. There’s no good reason in general for closing a card, and there’s nothing to handle if you’re not using the Chase card after the transfer. So I’d advise keeping it, *****uming there’s no annual fee.
I handle a couple of dozen cards. I use Quicken and online bill pay. But I’m a computer geek; it’s OK not to be one.
Thanks a lot for a quick reply. I have read that when you apply for a CC and they ask you how much balance will you tranfer the bigger the balance you tranfer the bigger your credit limit will be? Is that true?
If I decide not to cancel my chase card I will have around 5 cards, And I will be using 1. I guess that not a big deal. None of my cards have a annual fee..The only problem I see with the CITI card is their APR is 14% on purchases! But its a rewards card..
Argghh..So many options…
Some people say requesting a balance transfer with an application will increase the size of the credit limit; others say otherwise. There are many banks and many different credit profiles–I don’t understand how anyone can make any sort of statement about that in general. People who ask for a BT on their applications have no way to know if that increases or decreases the limit they’ll be offered. The only people who might now are those who program the computers or are on the inside and know how the computers are programmed. It could be different from bank to bank. It could be different from credit profile to credit profile. It could even be different for different cards issued by the same bank. Again, that’s why these blanket claims are so silly. People are very certain about their answers to things they can’t possibly know about!