Balance Transfer Credit Card US

By: EconomyWatch Content   Date: 29 January 2010

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Got an urgent payment to do and still not sure of your next pay check? A balance transfer credit card offers you not only the required funds but also sufficient time to arrange the funds as well. In an economy where an average citizen has almost 5 credit cards (based on the findings of the 2007 Nilson Report), balance transfer credit cards in US are more of a necessity than a luxury.  

‘For You, For Free’ Trend: Balance Transfer Credit Cards in US

The 2007 Nilson Report indicated a whooping 23 billion credit card transactions in the US and projected a growth of 26% in the next five years. With this positive trend indication, most credit card issuers assessed the business potential of balance transfer transactions. Accordingly, they began offering credit cards with free balance transfers for limited periods, with the purpose of attracting as many consumers as possible.

Here are some of the best balance transfer credit cards in US:

·        Citi Platinum Select MasterCard: With an interest-free period of 12 months for balance transfers and no annual fee, this card offers the most economical options for consumers. It also features the trademark Citi identity theft solution and charges an attractive 11.99% interest rate.

·        Discover More Card: The card offers an interest free period of 6 and 12 months for purchases and balance transfers, respectively. The card also offers up to 20% cash back on selected items.

·        Discover More Card - American Flag: With interest rate as low as 11.99% and an interest free period of 6 months, the card also offers 5% cash-back on travel, home improvement, gas and other select products.    

·        Bank of America Accelerated Rewards American Express card: The card comes with a miles scheme with no black-out dates and free of cost concierge service. The interest rate varies from 12.99% to 20.99% annually.

·        Miles by Discover Card: The card comes with a bonus of 12,000 points for one year, provided the card is used every month. The interest rate is standard at 11.99% and the card offers 6 months of interest free period.

Other cards such as Blue from American Express, Discover Motiva Card, Blue Cash from American Express and Discover Open Road Card can be considered too if you are looking for other balance transfer credit cards in US.

 


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