The Longest Period of 0% Intro Balance Transfer Offer

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0% Intro APR on Balance Transfers for 24 Months

In January 2011, Discover Card introduced Discover More Card with a groundbreaking promotional balance transfer offer, providing new members with a remarkable 0% introductory APR on balance transfers for an astounding 24 months. This offer, initially available for over three months, set a historical record for the longest 0% balance transfer offer period. However, by late April 2011, the offer was modified to an 18-month 0% APR promotion. Despite subsequent developments in the credit card industry, the Discover More Card’s initial promotion still stands as a record holder for its extended 24-month period. While no other credit card has surpassed this record to date, several cards continue to offer appealing deals for individuals seeking to transfer high-interest balances.

How a Balance Transfer Works

Executing a balance transfer is a relatively straightforward procedure. When applying for a new credit card, you’ll need to furnish the account number and the sum you wish to transfer from your existing balance. Upon approval of your application, the new credit card issuer will initiate a payment to the other credit card company for the specified transferred amount. This process allows flexibility as you can choose to transfer the entirety or a portion of your balance. Moreover, it’s possible to consolidate balances from multiple cards in a single transfer. Opting for a card with a 0% APR on transfers means you won’t incur any interest charges on the transferred amount until the promotional period concludes.

When a Balance Transfer Makes Sense

Balance transfers can be a smart strategy to cut down on interest expenses, especially when dealing with a substantial balance carrying a high interest rate or if you’re unable to pay off your credit card in full each month. When contemplating a balance transfer, it’s crucial to assess various factors, such as the prevailing interest rate on your current card, the interest rate offered by the new card, annual fees associated with both cards, and the balance transfer fee.

Typically ranging from three to five percent of the transferred balance, balance transfer fees may have a cap once a certain limit is reached. For instance, transferring a $1,000 balance with a 3% transfer fee would incur a $30 cost to move the balance to another card. It’s important to note that even if the new card provides a 0% interest rate, the savings in interest might be partially offset by the transfer fee. Therefore, a comprehensive evaluation of these factors is essential to determine the overall financial benefit of a balance transfer.

Best 0% Balance Transfer Offers

As of the latest available information, the longest 0% balance transfer period currently offered is 21 months. Balance transfer credit cards with 0% APR introductory periods generally range between 12 and 21 months. Several cards are currently featuring top 0% balance transfer promotions along with additional attractive benefits.

0% Interest on Transfers for 21 Months

Credit CardBonus, 0% Introductory InterestAnnual Fee
Wells Fargo Reflect Card

Wells Fargo Reflect® Card

0% on purchases and qualifying balance transfers for 21 months from account opening
(rates & fees)
$0
Citi Diamond Preferred Card

Citi® Diamond Preferred® Card

0% on purchases for 12 months and on qualifying balance transfers for 21 months$0

0% Interest on Transfers for 18 Months

Credit CardBonus, 0% Introductory InterestAnnual Fee
U.S. Bank Visa Platinum Card

U.S. Bank Visa® Platinum Card

0% on purchases and balance transfers for 18 billing cycles$0
Citi Double Cash Card

Citi Double Cash® Card

  • $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou Points, which can be redeemed for $200 cash back.
  • 0% on balance transfers for 18 months
  • $0

    0% Interest on Transfers for 15 Months

    Credit CardBonus, 0% Introductory InterestAnnual Fee
    Bank of America Travel Rewards Credit Card

    Bank of America® Travel Rewards credit card

  • 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases.
  • 0% on purchases and qualifying balance transfers for 15 billing cycles. After the intro period ends, the go-to rate of 18.24% - 28.24% variable applies.
  • $0
    Wells Fargo Active Cash Card

    Wells Fargo Active Cash® Card

  • $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
  • 0% on purchases and qualifying balance transfers for 15 months from account opening
    (rates & fees)
  • $0
    Bank of America Unlimited Cash Rewards credit card

    Bank of America® Unlimited Cash Rewards credit card

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
  • 0% on purchases and qualifying balance transfers for 15 billing cycles. After the intro period ends, the go-to rate of 18.24% - 28.24% variable applies.
  • $0
    Bank of America Customized Cash Rewards Credit Card

    Bank of America® Customized Cash Rewards credit card

  • $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
  • 0% on purchases and qualifying balance transfers for 15 billing cycles. After the intro period ends, the go-to rate of 18.24% - 28.24% variable applies.
  • $0
    Citi Custom Cash Card

    Citi Custom Cash® Card

  • $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou Points, which can be redeemed for $200 cash back.
  • 0% on purchases and balance transfers for 15 months
  • $0
    Citi Rewards+ Card

    Citi Rewards+® Card

  • 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com
  • 0% on purchases and balance transfers for 15 months
  • $0
    Chase Freedom Unlimited

    Chase Freedom Unlimited®

  • Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
  • 0% on purchases and balance transfers for 15 months
  • $0
    Blue Cash Everyday Card from American Express

    Blue Cash Everyday® Card from American Express

  • $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
  • 0% on purchases and balance transfers for 15 months
    (rates & fees)
  • $0
    (fees)
    USAA Rate Advantage Credit Card

    USAA Rate Advantage Credit Card

    0% on balance transfers for 15 months
    (rates & fees)
    $0
    (fees)
    Mastercard Titanium Card

    Mastercard® Titanium Card™

    0% on balance transfers made in the first 45 days for 15 billing cycles$195 ($95 for each authorized user added to the account)
    Mastercard Black Card

    Mastercard® Black Card™

    0% on balance transfers made in the first 45 days for 15 billing cycles$495 ($195 for each authorized user added to the account)
    TD Double Up Credit Card

    TD Double Up Credit Card

  • $100 Cash Back in the form of a statement credit when you spend $1,000 within the first 90 days after account opening
  • 0% on balance transfers for 15 months
  • $0

    Conclusion

    Discover set the bar for other credit card issuers with their 24-month 0% balance transfer promotion. While it remains to be seen if another card will do the same, you can still save on interest when you take advantage of the great 0% APR balance transfer deals that are are out there.


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