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0% Balance Transfers Can Save A Bunch Of Money
Part II of the Special Report "Why Aren't More
Cardholders Standing Up For Themselves?"

 
Special Report Contents:
I.

II.

III.
 
Skyrocket Your Credit Card Rewards!
0% Balance Transfers Can Save A Bunch
How To Lower Interest Rates Under 5%
 
Saddled with revolving credit card debt?  Most credit card companies hope and pray that consumers will do nothing about their interest rates. Card companies can raise them sky-high for any individual, up to 31.99% -- and it usually comes as a surprise when it happens. Here are seven good reasons to pay only 0% for 12 months:
  1. If you want to pay off your debts, you'll be able to do it sooooo much faster!
  2. You know your credit card company wants to raise your interest rate. Enjoy the comfort of a legal contract that keeps it at 0% for a whole year (as long as you keep to your end of the bargain -- so pay your bills on time.)
  3. While you're paying zippo on your credit card balance, you can earn interest on an equal amount in a bank account.
  4. Some cards let you pay 0% interest on purchases too -- it's kinda like a free loan.
  5. Other cards offer signup bonuses: If you manage your money wisely, it's really free cash.
  6. Sometimes you can consolidate several credit card accounts and make a single monthly payment.
  7. Don't just settle for a card offer that somebody mass-mailed to you, use a scorecard to pick the best one for your individual needs.
Want some good advice on which way to go? We've prepared a welcoming Quick-Start Guide "How to Select and Use Your Best Balance-Transfer Card" located at page bottom.
You can pay 0% for 12 months when you transfer your balance(s) to a new card -- even if your credit rating isn't very good. We examined scores of credit cards and narrowed it down to this Top 25 (16 cards for consumers, 9 for businesses.) These cards are ranked in order of how much they benefit most American consumers:
  
 
To see the gains you could reap by paying no interest for 12 months,
Fact:  The average household of 2.5 people owes $7,300 in total credit debt, paying 19% interest. A 0% "intro rate" for one year would save $1,387 for such a household.
 
Your Credit Card Balance:
The Interest Rate You Pay:
Pay 0% Interest For 12
Months With a Balance-
Transfer Card And Save:
? 
  Note:  A "thumbs-up" symbol in the scorecard below tells you the card is easier to get approved for, even if your credit isn't very good.
Cards for individuals offering 0%-for-twelve-months balance transfers:
Rank Card NameNext Steps
Intro
APR / Period
Balance Transfer FeeIntroductory Rate DetailsRegular Interest Rate (APR)Grace PeriodAnnual FeeBonus, If Any:
1. 1. Bank of America Cash Rewards Platinum Plus MasterCard Credit Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also for cash advance checks. Between 9.99% and 19.99% (Fixed)20 Days (Min.)0$50 Statement Credit**
 **Receive a $50 statement credit for any purchase, balance transfer, or cash advance totaling $25 within 45 days.
2. 2. NFL Extra Points Platinum Plus Visa Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also for cash advance checks. 9.99% / 15.99% (Fixed)20 Days (Min.)0$50 NFL Shop Gift Certificate
3. 3. Major League Baseball Extra Bases Credit Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also for cash advance checks. 9.99% / 15.99% (Fixed)20 Days (Min.)0$50 MLB Gift Card
4. 4. Bass Pro Shops Outdoor Rewards Platinum Plus Visa Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also for cash advance checks. 9.9% / 15.99% (Fixed)20 Days (Min.)0Free $25 Gift Card
5. 5. HSBC Platinum MasterCard with Cash Back Rewards
0% APR for 12 Months 3%, $15 minimum The intro rate for purchases is 0% APR for 12 months.8.90% - 19.80% (Variable)20 Days0None
6. 6. HSBC Weekend Card
0% APR for 12 Months 3%, $15 minimum The intro rate for purchases is 0% APR for 12 months.8.99% - 17.99% (Variable)20 Days (Min.)0None
7. 7. Bank of America Secured Visa Card
0% APR for 12 Billing Cycles 4%, $10 minimum, $90 maximum The intro rate applies to the first 12 billing cycles for balance transfers, cash advance checks, and direct deposits. *See application for details (Variable)20 Days (Min.)29None
8. 8. Brighter Planet Visa Credit Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also available for cash advance checks. 9.99% / 15.99% (Fixed)20 Days (Min.)01,000 EarthSmart Points**
 **Cardholders will receive 1,000 EarthSmart bonus points after their first qualifying purchase and 1,000 EarthSmart bonus points when enrolled to receive paperless statements. Essentially, every 1,000 points cardholders earn will fund an estimated 1 ton of carbon offsets.
9. 9. Elite Rewards World MasterCard Credit Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also for cash advance checks. 9.9% / 15.99% (Fixed)20 Days (Min.)0500 Points (worth about $5)
10. 10. Bank of America Platinum Plus Visa Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate applies to the first 12 billing cycles for balance transfers, cash advance checks, and direct deposits. Between Prime + 2.99 and Prime (Fixed)20 Days (Min.)0None
11. 11. Rainbow Platinum Plus Visa Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also for cash advance checks. 9.9% / 15.99% (Fixed)20 Days (Min.)0None
12. 12. BoatU.S. WorldPoints Platinum Plus Visa Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also for cash advance checks. 9.9% / 15.99% (Fixed)20 Days (Min.)0None
13. 13. Bank of America Visa Signature WorldPoints Rewards
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also for cash advance checks. 9.99% / 15.99% (Fixed)20 Days (Min.)0None
14. 14. The Nature Conservancy Platinum Plus Visa Credit Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also available for cash advance checks. 9.99% (Fixed)20 Days (Min.)0None
15. 15. NASCAR RacePoints(SM) Platinum Plus Visa Credit Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also for cash advance checks. 9.99% / 15.99% (Fixed)20 Days (Min.)0None
16. 16. Ducks Unlimited WorldPoints Platinum Plus Visa Card
0% APR for 12 Billing Cycles 3%, $10 minimum The intro rate is also for cash advance checks. 9.99% / 15.99% (Fixed)20 Days (Min.)0None
17. 17. Orchard Bank Premium 2% Cash Back Visa Card
0% APR for 6-12 MonthsUsually 5% (try asking for a reduction)Only people who are new to credit, or whose credit needs improvement, should get this card. You may qualify for 6 or 12 months of 0% interest on balance transfers, based upon your creditworthiness. And the 2% cash back (maximum reward of $400 per year) is quite generous.About 15% to 19% (see site)20 Days (Min.)$0 to $79, depends on your creditNone

Zero-percent cards for businesses (balance transfers must normally come from other business cards):
Rank Card NameNext Steps
Intro
APR / Period
Balance Transfer FeeIntroductory Rate DetailsRegular Interest Rate (APR)Grace PeriodAnnual FeeBonus, If Any:
1. 1. Platinum BusinessCard with Unlimited Rewards
0% APR for 15 Months 3%, $5 minimum, $90 maximum (introductory) A 0% intro rate is for balance transfers for 15 months. The APR for balance transfers after the intro period will be a fixed rate of 7.99%. 7.99% (Variable)20 Days (Min.)0None
2. 2. Advanta Customizable Platinum BusinessCard with Unlimited Rewards
0% APR for 15 Months 3%, $5 minimum, $90 maximum (introductory) A 0% intro rate is for balance transfers for 15 months if a transfer is submitted in the application process. The APR for balance transfers after the intro period will be a fixed rate of 7.99%. 7.99% (Variable)0None
3. 3. The Kiva BusinessCard
0% APR for 15 Months 3%, $5 minimum, $90 maximum (introductory) A 0% intro rate is for balance transfers for 15 months. The APR for balance transfers after the intro period expires will be a fixed rate of 7.99%. 7.99% (Variable)0None


How to Select and Use Your Best Balance-Transfer Card:
  • Choose a card that has a maximum cap to the balance transfer fee.  Let's use this as an example: a card has a balance transfer fee listed as "3%, $5 minimum, $75 maximum" in the scorecard above.  If you transfer $5,000 to that card, the 3% fee would normally cost you $150 -- but because the maximum balance transfer fee is $75, your cost is cut in half. If the balance transfer fee is listed as "Yes, see site" that normally means there is no maximum cap.

  • If you'll be transferring a small balance (less than say $3,000) it's more important to get a card with good bonuses than a maximum balance transfer fee.

  • Most consumer advocates advise paying down the balance each month to reduce your debt.

  • If you won't be paying down the balance very fast, you still have two good choices:  (1) The card you select from this page should have a low regular interest rate after the introductory rate ends; or (2) You can get a life-of-the-balance transfer at a low interest rate (see part III of this report, How To Lower Interest Rates Under 5% For Life.)

  • Think twice before using the card for new spending, but if you must do that, select a card that has a 0% intro rate for purchases too.

  • If two regular interest rates are listed (e.g. "9.99% / 15.99%") the rate you are offered will depend on your credit rating.

  • Pay the bill for your new credit card on time (otherwise you could lose the 0% intro rate before it is due to end.)

  • Be aware that the new card may not accept the entire amount that you want to transfer to it.




Note: The scorecard on this page is fact-checked every one or two  These credit card offers are available now, but there's no guarantee they will still be there tomorrow (especially in this shaky economy.)
 
   
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