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0% Interest Credit Cards, 12 Months Balance Transfer

October 13, 2009 by Silicon Valley Blogger

The 12 month 0% interest balance transfer credit card is back!

So much has changed over the past few years in the credit card industry, what with new regulations, the disappearance of easy credit, the reduction of credit card offers and advertisements through the mail, and not to mention, the expiration of long term and lifetime balance transfer programs (and awesome card terms). Those sweet terms we used to enjoy that allowed a lot of people to make money off their credit cards or to afford so much on plastic seem to have evaporated.

But through it all, there have been balance transfer credit cards that stayed in the market, albeit with shortened intro periods and higher transfer fees. While I’m not predicting that we’re seeing the light at the end of the tunnel for the card industry, some card issuers are showing signs of life by reintroducing the 12 month 0% balance transfer credit card.

0% Interest Credit Card With 12 Months Balance Transfer Terms

Here’s the good news for those of you who are looking for a 0% APR credit card either to transfer your balance over to, or to simply enjoy for the 0% rates on new purchases. Check out the Discover More American Flag card.

This rewards credit card is one of the Discover More card variants, except with different balance transfer terms from the rest. The Discover More American Flag credit card is available with the following great benefits and top rewards card features:

• 0% APR for 12 months upon balance transfer. After 12 months, the standard rates will apply. The balance transfer fee is 5%.
• 0% APR for 6 months for new purchases, with the standard APR becoming effective after the intro period.
• Full 5% cash back bonus in top spending and shopping categories such as restaurants, groceries, travel, gas and more.
• 5% to 20% cash back bonus when you shop at top retailers.
• Up to 1% cash back bonus will be automatically applied for all other purchases.
• No annual fee.

Discover More Credit Cards And Other 0% Balance Transfer Offers

Discover More credit cards also come in other types and carry with it other terms. For instance, this table shows the Discover More cards that are available.

Most other balance transfer credit cards offer the term of 0% APR for 6 months, along with the 3% balance transfer fee feature. You’ll have to decide which card will be cheaper for you in the long run: the shorter term (6 months) with lower balance transfer fee (3%) or the longer term (12 months) with higher balance transfer fee (5%). For those who only care about new purchases, then the Discover More cards have identical terms.

0% APR Credit Cards For New Purchases

Now if you have good credit and are looking for a cash back rewards credit card that can offer you 0% APR for a limited time, albeit for new purchases only, then check out the Chase Freedom Credit Card. This card offers a variable rate: cardholders with the best credit will receive a 0% APR for 12 months, while others may receive a standard rate of 0% for 6 months based on credit history (for new purchases). The card itself is a decent cash back credit card that yields 3% to 20% cash back on select spending categories and rewards you with a 1% cash rebate on everything else. Plus, you’ll get a $50 cash bonus after you make your first purchase.

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