Best Balance Transfer Card

There are credit cards that offer good deals on balance transfers, but they also offer other features that might enter into your decision on which to choose. Naturally, all of them require good or excellent credit, and all of them carry some interest rates following interest free introductory periods. Other features that may interest you include air miles, cash back and cash bonus offers, and lower interest rates.

If air miles interest you, then you might consider Free Spirit Onyx World Mastercard. This card gives you 15,000 bonus air miles after the first purchase plus up to 10,000 extra miles for balance transfers within the first two months of the account. With this card, you also receive priority boarding and check in for flights, and you earn three miles for every dollar spent on Spirit and one mile for each dollar spent on other purchases. The annual fee is waived for the first year. Excellent credit is not necessary, good credit will do, but the interest rate is from 14 to 17%. This credit card account is what you might want if you travel a great deal on an expense account.

If Cash Bonuses or Cash Back makes you happy, then take a look at either the Discover More Card or the
Citibank Cash Returns Card. The Discover More Card offers $50 cash bonus after the first $599 of purchases, and 5% cash back on gas, travel, grocery, and restaurant purchases. This card also features a 0% rate on balance transfers for the first 12 months, a 0% rate on purchases for the first 6 months, and an automatic 1% cash back on all purchases automatically. There is no annual fee, but excellent credit is required. The interest rate on the Discover More Card is 12.99%. The Citibank Cash Returns Card offers 0% on balance transfers up to fifteen months, and you can earn unlimited 1% cash back on all purchases. Citibank seeks individuals with good credit for this account, which has no annual fee and carries a 12.99% interest rate.

If a long term 0% introductory rate thrills you, then consider the 18 months that Citibank Platinum Select Mastercard offers on both balance transfers and purchases. The Platinum card also provides for a $30 statement credit, cash rewards, no annual fee and to top that all off, a low 9.99% interest rate. Good credit is good enough; Citibank does not limit this account to only excellent credit applicants.

And finally, if what you want is simply the lowest interest rate that can be found, and are not distracted by bells and whistles such as air miles, cash bonuses and the like, then the Iberia Bank Visa Select Card will suit you very well. It carries the lowest rate of the five accounts here profiled, at just 7.50% currently. This rate will stay reasonable, because it is calculated on the prime rate plus 4.25%. Excellent credit is needed, and there is a $45 annual fee, but it offers 0% on purchases for the first 12 months and only 1.99% on balance transfers for the first 12 billing cycles. This is the white bread of balance transfer credit cards, simple and with the best interest rate.

These five credit card balance transfer accounts may not be the only ones making such good offers out there in credit card land. As the economic recession deepens, credit card companies will be seen making offers and adding features that might not be imagined today. To get the optimum deal, it would be wise to do an internet search on a regular basis, to stay current on what is available. If you are one of the fortunate ones who still have good credit or even excellent credit, then there will be many special enticements as the months roll by. The financial industry has been hit as hard as every industry and there is motivation to acquire new account holders, who will build a balance that will generate enough to help them recover. Take advantage of this situation and take the time to shop as much as possible before making a choice of the balance transfer credit card that will suit your personal and business needs the most completely.