Balance Transfer Cards

There are many balance transfer cards on the market.  Choosing the perfect one can be a little tough.  You need to look at a few specifics to determine what credit card might be the best.  Since you are hoping for a balance transfer card, such things as purchase deals and rates are going to be secondary.  You may want to consider the rewards with the card though.

The top of the list is the Barclay card platinum visa card, because it has one of the longest balance transfer periods and the lowest annual percentage rate.  The Barclaycard offers 14 months of a zero percent interest with a 14.9 percent APR that is variable. It also has deals on travel and rental cars.

The Virgin MasterCard is next in line with 15 months of zero percent interest on balance transfers and an APR of 15.9 percent variable.  They offer rewards for Zavvi, Wine, and holidays.

The Egg Visa card offers 14 months with an APR of 16.9 percent so it is next on our list.  You will also notice that the Egg card doesn’t have rewards, but it does have one of the longer zero percent interest options on credit cards today.

Next you have Natwest with 13 months of zero percent interest on balance transfer cards.  They offer a longer purchase period and 13.9 percent on purchases and balance transfers after the deal.  This card also doesn’t offer rewards.

MBNA Platinum Plus offers a zero percent rate until June of 2009, which is currently 13 months, but it has a 15.9 percent APR after the period is over.  As you can see once we view the top five cards they are rated for the balance transfer period first, APR, and then rewards. This is one reason the MBNA comes in number five.

The next card in the top ten is the HSBC. It has a 4.9 percent rate on balance transfers until January 31st 2012.  This is a very long period for a special deal that can save you money you might have spent on that balance.  It is really a great card when you know you can’t pay off your balance within a year.

The Capital One MasterCard has a year long balance transfer with a 12.9 percent APR and a year on purchases as well.  They are offering free identity theft service, which other cards may not offer.

Sainsburys Card has 12 months on balance transfers, 12 months on Sainsburys purchases and a 15.9 percent APR.  You can also combine this deal with a Nectar card.

The last two cards are extremely similar.  You have Natwest MasterCard and RBS Classic.  Both cards offer 13 months of zero percent on balance transfers with zero percent on purchases.  The annual percentage rate is 13.9 percent with no rewards.

After reviewing all ten cards you can see that some of the best cards offer both purchase and balance transfer deals with rewards.  For you it will depend on what is being offered to decide what is the best.