3 Balance Transfer Offers Great for a Fresh Start in 2012

NEW YORK (MainStreet) — MainStreet rounded up a lot of solid advice for our favorite credit card experts earlier this week, but one of the more timely tidbits involved transferring a high balance to a credit card with a 0% introductory teaser rate. 

This is because issuers tend to offer particularly lucrative balance transfer deals around this time of year, largely due to the fact that consumers tend to rack up big bills they need time to pay off during the holidays. MainStreet rounded up some of the special offers those in need of a grace period might want to take advantage of.

Chase Slate with BluePrint

Chase (Stock Quote: JPM) is offering a 12-month long 0% introductory APR on balance transfers and purchases to those with excellent credit and a six-month 0% introductory APR to those with average credit. But the real draw is that the bank is currently waiving its balance-transfer fee if you move the balance within the first 30 days of opening the account. Normally, cardholders would be charged either $5 or 3% of the amount of each transfer, whichever is greater. After the introductory period elapses, the APR will be between 11.99% and 22.99%, depending on creditworthiness.

Discover More Card

For a limited time only, Discover is extending its 0% introductory APR on balance transfers to 18 months.  (The introductory offer was being  for 15 months back in October.) The extended APR will be applied to any balances transferred before June 10, 2012.  Cardholders will have to pay a 3% balance transfer fee for each balance transferred by the June deadline and a 5% fee (min. $10) for each balance transferred afterwards. The issuer is also offering a 0% APR on new purchases made during the first six months of the account opening.

APRs on the card will be between 10.99% and 20.99%, depending on creditworthiness, once the offer elapses.

Chase Freedom

Chase is also pairing a special 0% introductory 12-month APR on balance transfers with a sign-on bonus on its popular cash-back Freedom card. In addition to the introductory 0% APR on transfers made during the first 30 days of an account opening, new cardholders are eligible to receive $100 cash back if they spend $500 during their first three months.  The card also offers an introductory six-month 0% APR on purchases. After the introductory period elapses, the APR will be between 11.99% and 22.99%, depending on creditworthiness.

What other credit cards are traditionally solid when it comes to transferring a balance? Find out in MainStreet’s roundup of the  best balance transfer cards of 2011.

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