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Balance transfer credit cards have been big business over the past several years. These cards carry a 0% introductory interest rate for a limited time, usually from a few months to 1 year or longer. But as the credit market experienced difficulties, the availability of 0% balance transfer cards has diminished. In fact, it is getting harder and harder to find a good balance transfer credit card without exorbitant fees. While the options are not as plentiful as they once were, you can still find some very good balance transfer cards.

I'm going to mention two that I think are particularly good. But before I do, let's discuss how to evaluate a balance transfer credit card. The first and obvious consideration is the length of the introductory rate offer. For me, any offers less than 12 months are not worth considering.

Second, you want to look at the fees the credit card company will charge for the balance transfer. Most charge 3% with a cap of about $ 75, although some do not have a cap on the fee. A balance transfer card with no cap on the fee is basically just a shell game. They give you 0%, but make up for it with the fee. And finally, you want to consider what the interest rate will be once the introductory rate has expired. This is particularly important if you plan to keep a balance on the card after the 0% offer is over.

So with that, here are two of the best balance transfer credit cards available, in my opinion.

Best Balance Transfer Card for Individuals
As for the best balance transfer credit card for individuals, my vote goes to the Discover More Card – Wildlife Collection (see link below). The card sports a 0% interest rate on balance transfers for up to 12 months. It also comes with up to 5% cash back on some purchases, including gas, and up to 20% cashback bonus for certain online retailers. The card has no annual fee. The balance transfer fee is 3%, but the fee is capped at $ 75.

Best Balance Transfer Credit Card for Businesses
The best 0% balance transfer offer for businesses in my opinion is the Advanta Platinum BusinessCard (see link below). With a 15 month 0% introductory rate on balance transfers, this card gets my vote for the best balance transfer card, hands down. And it comes with several other great features.

1. No annual fee

2.5% Cashback or travel rewards

3. 7.99% after the 0% introductory rate

4. Balance transfer fee of 3% with a maximum fee of $ 90

And the great thing about a business card is that you do not have to have a business to get one. When completing the application, just put your name where it asks for the business name and select sole proprietor as the type of business. And this card is great for realtors, franchise owners, bloggers, home based businesses, and anybody else needing to keep business expenses separate from personal expenses.

Either of these cards are great, just depending on what your needs are.

Bonus Card
If you are more interested in 0% on purchases than you are on a balance transfer, there is a second business card to consider – the Discover Business Card (see link below). This card offers 0% on purchases for 12 months. But are the really great features:

1. Earn $ 100 cash back if you spend $ 1,000 in the first three months

2.5% cash back on office supplies

3. 2% cash back on gas purchases

4. 1% cash back on everything else

5. No annual fee

Balance Transfer Credit Cards – Is the End Near?

Balance Transfer Credit Cards - Is the End Near?