Pound For Pound, The Best Balance Transfer Credit Card

Choosing the best balance transfer credit card is a little bit tricky, simply because when it comes to credit cards, everyone's needs are slightly different.

You may be focused on the introductory APR, while someone else may be more concerned about balance transfer fees or the length of the introductory offer. So in order to come up with the "best" balance transfer card, I have tried to take these things into account, and choose the credit card that "rises to the top" of the list in most categories.

Categories like...

• the balance transfer annual percentage rate (APR), with 0% being the goal
  
• the length of the introductory period, the longer the better
• the balance transfer fees charged, the smaller the fee the better
• the maximum balance transfer fee charged, fees that have a "cap" are the best
• the APR you will have to pay on any balance remaining once the introductory period expires, the lower the better
• the annual fee, the lower the better and,
  
• the rewards that are attached to the card

And once I did this, one credit card quickly rose to the top of the list as the best in terms of balance transfer cards.

What You Can Expect From The Best Balance Transfer Credit Card

Type Of Credit Card: Visa

APR On Balance Transfers: 0%

Length Of Introductory Period: 9 billing cycles after account opening (about 9 months)

Balance Transfer Fee: 3% or $10 per balance transfer during introductory period, BUT capped at $50 per transfer (I will show you below how to bring the transfer fee to zero

Annual Fee: Choice of No Annual Fee or $29 Annual Fee (the annual fee card entitles you to better rewards earnings under the cards rewards program

Rewards Program: Earn up to 4 points per dollar spent (each point is worth $.01) and use the points to pay off your balance on the credit card

Another Reason This Is The Best Balance Transfer Credit Card

By using the rewards program offered on this credit card, you can effectively end up with...

• 0% APR on balance transfers
• a 9 months introductory period
• and no balance transfer fee

In fact you could actually end up $21 ahead of the game

Here's how.

This technique works if you plan on transferring one larger balance from another credit card.

Example #1 - Applying For The No Annual Fee Credit Card

If you were to sign up for the "No Annual Fee" card, and transfer $2,500 onto the card you would receive 2500 points under the rewards program which translates into $25. Then, once you make your first purchase on the card (no matter how small), you receive another 2500 points or $25. Thus you will receive rewards equal to $50, which, coincidentally, is the amount of the balance transfer fee you would have to pay.

End result?

You transfer $2,500 from your high interest rate credit card to your new card, pay 0% on that card for 9 months, and effectively transfer the balance for free.

Example #2 - Applying For The $29 Annual Fee Credit Card

If the balance you are transferring is higher than $2,500, you may want to consider the "$29 Annual Fee" card. Let's say you planned on transferring $5,000. Well, with the $29 annual fee card you would receive 5000 points (worth $50 dollars) for transferring this amount. And, once you make your first purchase on the card you get another 5000 points (another $50).

So now you have $100 to use as a payment towards your new credit card, which covers the $50 balance transfer fee, and the $29 annual fee, and leaves an additional $21 to put towards your existing credit card debt.

O.K. enough chatter. The balance transfer card I am referring to is...

Drum Roll Please.......

The best balance transfer credit card is hands down the...

Because of the way the rewards program is structured, combined with the cap on the balance transfer fee, it is possible to transfer a credit card balance to this card, pay 0% APR on that balance for 9 months, and effectively pay no balance transfer fee.

Simply the best balance transfer credit card on the market right now.