Comparing the most Popular Balance Transfer Credit Cards
We love balance transfer credit cards, especially when they come with really great terms. Because most creditors have begun loosening those belts that have been so tight for the past year or so, many individuals are seeing the return of credit card offers in their mailbox, and balance transfer credit cards are becoming a more common sight.
With that said, it is important to understand that all balance transfer credit cards are not created equal and the introductory balance transfer period is often quite different from one card to the next. Here’s a quick comparison of some of the most popular balance transfer credit cards currently available:
- Capital One Platinum Prestige Credit Card - This popular balance transfer credit card features a zero-percent APR until August 2011 on balance transfers and purchases, and balance transfer requests can be processed in as little as 48 hours. Other features of the Capital One Platinum Prestige card include a $0 fraud liability, 24-hour roadside assistance, travel accident insurance and no annual fee.
- Citi Platinum Select Master Card – This card comes with a zero-percent APR on balance transfers for 18 months and a zero-percent APR on purchases for 12 months. The APR on the Citi Platinum Select will be based on the prime rate. Just some of the goodies offered with this card include: discounts on gift cards; travel discounts; and merchandise discounts. There is no annual fee for this credit card.
- Bank of America Cash Rewards Visa Signature Card – The first perk offered to customers of this card is a $50 statement credit after spending $100 in retail purchases in the first 60 days the account is open. Other features include three-percent cash back on gas, grocery and drug store purchases for the first six months and one percent on all other purchases. In addition, customers of the Bank of America Cash Rewards Visa Signature Card enjoy a 25 percent bonus on all cash reward redemptions of $300 or more. This card also comes with a zero-percent introductory interest rate that lasts from seven to 10 billing cycles.
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