Comparing Low Interest Credit Card Balance Transfer Offers

A low interest credit card balance transfer can help lower your monthly expenses.  Finding a card that provides you with the ability to accomplish this requires some work on your part as you sift through the various low and introductory offer rates that are out.

Have Good Credit in Order to Qualify

First, we work from the premise that you can qualify for a low interest credit card balance transfer offer.  Knowing your credit score and being current on your debts, including your credit card debt will help put you in a better position to qualify for the various offers out there for a low interest credit card balance transfer.

Cards with Excellent Low Interest Offers

3 cards in particular, the Chase Platinum MasterCard, AT&T Universal Card and Discover Platinum Card each have low introductory rates that are probably the most competitive and attractive available depending on your qualification.  The Chase card has a 0 percent introductory rate good for 6 months on transferred balances.  AT&T offers 0 percent on transfers for 9 months and Discover gives 0 percent for 12 months on transferred balances coming from another card.

The caveat or caution here with this type of introductory rate is that you must maintain your credit and payments on time, all time.  Failing to do so, even once with the AT&T Universal Card for example results in the elimination of the 0 percent rate and a new rate of 28-1/2 percent!

Cards with Low Interest Rates on New Purchases

Instead of choosing a card that gives you’re a low rate on balance transfers, you can go with one that rewards you on new purchases once the balance transfer has been accomplished.  For example, American Express Blue Card there is a 15 month, 0 percent rate on new purchases and a rate of nearly 4 percent on balance transfers.  Once the balance is paid and the 15 months elapses, your rate is fixed between 9.99 and 12.99 percent, depending on the credit rating you have.  Other cards like the Bank of America Gold Card offers a lower than normal rate of 8.99 percent (APR) on both balance transfers and new purchases.  This is good for a period of 6 months.  

Choosing a low interest credit card for balance transfers takes some work and investigation on your part to choose the best card for your needs.  Be sure to read the fine print carefully in order to avoid any pitfalls or potential minefields should a payment be missed.