Philadelphia, PA (PRWEB) June 29, 2007
Ever since zero percent introductory annual percentage rate (intro APR) credit cards were introduced to the American market several years ago, they've been very popular. All types of consumers have been taking advantage of 0% credit card offers. Most consumers use 0% deals to save money by avoiding interest charges on their credit card debt, while other money-savvy consumers use 0% offers to make money by playing the 0% credit card arbitrage game (also known as "stoozing.") But many 0% credit card balance transfer offers come with a catch: you have to pay a fee for transferring a balance. There are, however, a few select consumer and business credit card products out there that don't charge a fee for the first or initial balance transfer. Feeless, zero percent intro APR balance transfer cards now rank #1 in terms of popularity at the BusinessCreditCards.cc and BalanceTransfer.cc websites.
Feeless, 0% intro APR balance transfer deals -- perhaps the most sought-after 0% deals on the Internet -- are a dying breed. Dying, but not dead. The pool of banks that offer feeless 0% deals has been shrinking. Why? Because the banks and credit card companies know that by eliminating the balance transfer transaction fee, a balance transfer "surfer" can transfer a credit card balance to a card, sit out the interest-free period, then transfer the balance out to a new 0% deal -- thus denying the bank any opportunity to make money off the surfer. The balance transfer transaction fee gives a bank the opportunity to get at least something out of the deal.
The Discover More family of credit cards, offered by Discover Financial Services (DFS), has been exceedingly popular for transferring credit card balances. Why? Because, heretofore, with any Discover More card, a consumer could transfer a credit card balance and pay no interest on the transferred funds for 12 months, with no balance transfer transaction fee. But that's not all: with Discover More, one could (and still can) get a 0% rate on new credit card purchases for 12 months to boot. Its no wonder that the Discover More family of credit cards has been a top-ranked collection of credit cards at many top-rated websites.
But DFS recently made a change to the terms and conditions associated with the Discover More family of credit cards: consumers now have to pay a fee for transferring a balance; the minimum transfer fee is $10. The Discover More group of cards still offers great value, with a 0% intro APR rate on both balance transfers and new purchases for one year, but the nascent balance transfer transaction fee may turn off some bargain hunters out there in the market for a hot, 0% credit card balance transfer deal.
OK, now for the good news: Citi®, American Express® and Pulaski Bank still offer consumer credit cards where a credit consumer can transfer a balance at zero percent for 6 or 12 months (depending on the card) and pay no balance transfer fee. Furthermore, Citi and CitiBusiness® have business credit cards that provide an option to transfer a balance at 0% without charging a transaction fee.
"Zero percent intro APR balance transfer credit cards that don't charge a fee for transferring balances have been the most popular products recommended at the BalanceTransfer.cc site for many months now," said Steve Brown, who owns numerous finance-related web properties, including BalanceTransfer.cc and BusinessCreditCards.cc. "It's really no surprise that they are now the most sought-after business credit cards at the BusinessCreditCards.cc website as well. Consumers are always going to gravitate to the credit card offers that offer the most value, and feeless 0% deals fit the bill."
Brown offers two pieces of advise to consumers on the hunt for attractive 0% balance transfer offers:
The terms and conditions associated with any credit card are not set in stone, so it's important to thoroughly review each card's current terms before applying.
The website at BalanceTransfer.cc is a popular Internet destination where visitors can research and compare zero percent intro APR credit card offers from reputable banks. The BalanceTransfer.cc site is owned by American CyberSpace®.