Great Balance Transfer Deal: 0% APR for 18 Months with Citi Platinum Select Visa | CreditShout

Great Balance Transfer Deal: 0% APR for 18 Months with Citi Platinum Select Visa

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CREDITSHOUT RATING:
Very Good
Citi is now offering 0% APR for a whopping 18 months with its Platinum Select Visa card. And that’s not just on purchases. Balance transfers are covered, too, although they must be made within 4 months of account opening. If you’re looking to pay off some debt but just can’t seem to get anywhere because of the joy that is compounding interest, you should consider this card. Here we compare it to another similar card from Chase, and list some of each card’s best features.

Introductory APR rates are constantly changing so if you are in the market for doing a balance transfer I recommend taking advantage of this offer now!

A great card for balance transfers.

If you’re looking to transfer a balance to this card, you should know that there’s a 3% balance transfer fee. This is pretty standard; most balance transfer fees are 3%. It’s very hard to find anything below this number. 3% may sound like a lot when you’re thinking about transferring thousands of dollars, but think of it this way: you’re probably paying 11% or more per year already. In just a few months, you’ll save more than that in interest. Not having to pay interest for almost two years can really help you get a handle on your debt.

Besides a fairly low balance transfer fee and 18 months of no interest, this card also has no annual fee. That’s definitely a feature you want in a card (especially a non-rewards card), since annual fees can really add up. The APR after the intro period isn’t anything special, but it’s reasonable. The penalty APR is a little high, though: 29.99%. Be careful not to make any late payments with this card or you may end up paying it.

What other options do I have?

Chase Slate is a similar offering that’s available right now. It also boasts a fairly generous 0% introductory APR for 15 months. Not quite as long as the Platinum Select, though. And the interest rate is a tad higher: it ranges from 11.99% to 21.99%, meaning if you have “fair” credit (around 620 to 680) you could end up paying 1% more a year with this card than with Citi’s version. One thing Chase’s card has that Citi’s doesn’t is Blueprint: a program that allows you to set a goal date for large purchases (the amount you need to pay each month to reach this goal is listed on your statement), choose a goal for when you want to have your balance paid off, and a couple of other cool features. This card has no annual fee either, as well as–you guessed it: a 3% balance transfer fee.

Is this card right for me?

Both of these cards are good for those who are looking to pay down some credit card balances. The 0% APR allows you to gain some ground on your debt and pay a lot less in interest over time – so this card is really for those looking to take advantage of a great balance transfer offer.

  • Credit Required
    Average Credit
  • Rewards Program
    0% Intro APR on balance transfers and purchases for 18 months.
  • Signup Bonus
    n/a

CreditShout Rating:
( Very Good )

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