Top Three Balance Transfer Credit Cards for Winter 2013

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This article was written by Logan Abbott. Enjoy!

If you’re like me, then you probably made some New Year’s resolutions a week and a half ago that you would like to make good on this year. Well, there’s no better time to get a jump on those New Year’s resolutions than the present.

Many people carrying significant credit card debt promised themselves that this would be the year they paid that debt off. If you’re one of these people, you should consider moving that unwieldy credit card balance to another credit card by opening up a 0% Intro APR on balance transfers credit card.

With a 0% balance transfer credit card, you can prevent the large dollar amount currently on your balance from getting any larger, since you will not have to pay interest on that balance anymore until the intro balance transfer period is over, which is typically 12 to 18 months on a great balance transfer credit card.

Knowing which card to choose can be confusing. Worry not, however, as I have done the research for you, and present to you my top three picks for the best balance transfer credit cards currently available:

1. Discover It Card – The Discover it Card was just unveiled by Discover at the beginning of January. The Discover It line of credit cards looks to replace, and improve upon, the Discover More line of credit cards which Discover has recently discontinued. Putting the Discover it Card at the top of this list was really a no-brainer for me, as I cannot say enough about this card. In terms of balance transfer credit cards, the Discover it Card gives you a 0% Intro APR on balance transfers and purchases for the first 14 months that you have the card. If that wasn’t enough, the Discover it Card also grants 5% cash back on purchases in rotating categories, as well as 1% cash back on all other purchases. There is also no annual fee. So, all in all, the Discover it Card is a great balance transfer credit card and cash back credit card.

2. Citi Dividend Platinum Select Visa Card – The Citi Dividend Platinum Select Visa Card is the runner up on my list of the top three balance transfer credit cards of Winter 2013. With the Citi Dividend Platinum Select Visa Card, cardholders receive a 0% Intro APR on purchases and balance transfers for the first 12 months that they have the card. In addition, cardholders receive $100 cash back after they make $500 in purchases in the first 3 months that they have their credit card account. The Citi Dividend Platinum Select Visa Card also offers 5% cash back from Citi on certain purchases from Zappos.com, fitness clubs, and drugstores through the end of March, as well as 1% cash back on all other purchases, and no annual fee.

3. Citi ThankYou Card – The Citi ThankYou Card brings up the rear of my list. With the Citi ThankYou Card, cardholders receive a 0% Intro APR on balance transfers and purchases for 15 months. In addition, the Citi ThankYou Card rewards cardholders for 1 ThankYou Point for each dollar they spend on purchases, as well as an anniversary bonus each year on the amount of points they’ve already earned. Lastly, there is no annual fee to own the card.

So what are you waiting for? If you are carrying a large credit card balance that you’re having trouble paying off, get your head above water by transferring that balance to a new credit card, and start to dig yourself out of that hole.

How about you all? Have you ever used a 0% interest balance transfer to help pay off your debt?

What is your favorite credit card?

Share your experiences by commenting below!

***Photo courtesy of http://www.flickr.com/photos/brettlider/214337536/sizes/l/in/photostream/

About the Author Jacob A Irwin

Hi folks! My name is Jacob. I am the owner and operator of My Personal Finance Journey. I started this blog in January of 2010 and have enjoyed the journey ever since. Since finishing up graduate school in Virginia in 2014, I have been working in biopharmaceutical development in Colorado. You can read more about me and this site here. Please contact me if you have any questions!

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