I’m thinking of applying for a balance transfer credit card to help me manage some credit card debt that’s been piling up. I’ve looked into a few different options, but I’m not sure which one is the best fit for my situation. Here are a few cards I’ve been considering. What do you all think? Anyone have experience with these cards?
I used the Discover it® Cash Back - 18 Month Intro Balance Transfer Offer card last year, and it worked out really well for me. The 0% APR period gave me plenty of time to pay off my balance without worrying about interest.
@Alex
That sounds like a great option. How was the application process? Was it easy to get approved?
Arley said:
@Alex
That sounds like a great option. How was the application process? Was it easy to get approved?
The application process was pretty smooth. I got approved within a couple of days, and the balance transfer went through without any issues. I’d definitely recommend it if you’re looking to consolidate debt.
@Alex
Good to know! I think I might give it a try. The 18 months of 0% interest is pretty appealing.
I went with the Citi Double Cash® Card for the 2% cash back, but the balance transfer offer is great too. You get 18 months of 0% APR, which helped me pay down my balance without racking up more interest.
@Aldrin
The 2% cash back on every purchase is really tempting. How does that work alongside the balance transfer offer?
Arley said:
@Aldrin
The 2% cash back on every purchase is really tempting. How does that work alongside the balance transfer offer?
It works well! The cash back is separate from the balance transfer, so you still earn cash back on your everyday purchases while benefiting from the 0% intro APR on the transferred balance. It’s a win-win.
@Aldrin
That sounds perfect for me. I’m trying to manage my debt but also want to earn rewards on my everyday spending.
I’ve had the Wells Fargo Reflect® Card for a while now, and I’m really happy with it. The 0% APR period is nearly two years, which is one of the longest offers I’ve seen. If you need extra time to pay off debt, this card is a solid choice.
@BrianEric1
Almost two years of no interest sounds amazing. Did you have to pay a balance transfer fee?
Arley said:
@BrianEric1
Almost two years of no interest sounds amazing. Did you have to pay a balance transfer fee?
Yes, there’s a 3% fee for the balance transfer, but for me, it was worth it to have the extra time to pay everything off without interest.
@BrianEric1
I guess the fee is worth it if you’re saving a lot in interest. I’ll have to calculate how much it would save me.
I got the Citi Simplicity® Card because of the extra-long 0% intro period. I’ve been able to make steady payments on my balance without having to stress about interest, and there are no late fees or penalty APRs, which is a nice bonus.
@Taron
No late fees or penalty APRs sounds like a great deal, especially if you’re juggling multiple payments. How long is the 0% period?
Arley said:
@Taron
No late fees or penalty APRs sounds like a great deal, especially if you’re juggling multiple payments. How long is the 0% period?
It’s 21 months for balance transfers, which is one of the longest I’ve seen. Definitely gives you plenty of breathing room to pay things off.
@Taron
That’s amazing. I might have to go with this one if I can’t pay off my balance in a shorter period.
The U.S. Bank Visa® Platinum Card has been great for me. The intro APR period is long, and the balance transfer fee is lower than most other cards I looked at. It’s simple and straightforward if you’re just looking to pay down debt.
@Parrish
Lower balance transfer fees sound appealing. How low is the fee?
Arley said:
@Parrish
Lower balance transfer fees sound appealing. How low is the fee?
It’s 3% if you transfer within the first 60 days, which is lower than some cards that charge 5%. It definitely makes a difference if you’re transferring a large balance.