Which Credit Card is Best for Balance Transfer?

Balance transfer credit cards allow users to transfer some or all of a balance on an old credit card onto a new credit card. Generally done to help individuals to save due to low fees, this method is one of the best ways to consolidate debt. Don’t be fooled – some offers are simply bad deals.

These are good offers that can tempt anyone into investing into the card. However, you have to look further to know which offer is truly the one for you. If you want to minimize your debt, use balance transfers, but do so wisely. With 74.9 percent of all US families using credit cards and 58 percent of them carrying a balance, that’s millions of dollars in interest payments Americans are paying each month, according to the Federal Reserve Bulletin.

What if you could get a break from interest for a few months, pay off your debt during that time and not have to worry about it long term?  The best balance transfer credit cards provide a simple and straightforward way for you to reduce the costs associated with your credit cards and give you the opportunity to pay off those rewards without interest. Keep in mind that if you do not pay off your balance in full during the intro period, you will need to pay the APR. Make it your goal to pay it off during that introductory offer.

Citi Simplicity Card – Best Balance Transfer Credit Card

The Citi Simplicty Card gives you zero percent APR for 18 months on balance transfers and purchases. It has a low regular APR of 12.99% – 21.99 percent after the introductory period expires.  However, you have a year and a half to pay off your debt interest free with this card. There’s no annual fee, late payment fee, or over limit fee either. You will need to have excellent credit, but this card is one of the best tools available for getting a balance transfer free period.

There are other balance transfer cards on the market today but the Citi Simplicty is the best.  You won’t find an offer longer than 18 months these days and the no fee structure makes it easy for cardholder to keep the money lost to credit cards at a minimum (if anything at all)

Getting out from heavy credit card debt is hard but a balance transfer can help you escape high interest rates. Use them to pay off those high rate credit cards. and keep your purchases in check.