Dec 4 2013, 6:27am CST | by Sumayah Aamir
Creditnet is one of the biggest websites on credit cards. Yesterday, it announced the top three credit cards of 2013 in terms of balance transfer. What are balance transfer credit cards? These credit cards allow you to actually transfer your debt from one card to another. You can transfer your debt from high interest credit cards to low interest credit cards. And you can transfer all of your debt to a credit card with a very low interest rate. This will make it easier for you to pay your debt with ease.
Creditnet experts created this list of the best three balance transfer credit cards on the basis of many factors. These factors include balance transfer terms, introductory offers, reward programs, customer reviews and expert opinions. On the basis of these factors, Creditnet's top three balance transfer credit cards available for consumers today happen to be:
Discover it is the topmost choice because it is the only balance transfer card that gives you the longest time margin in which to return your debt. Discover it gives you a 0% APR introductory period on balance transfers for 18 months and a 0% APR introductory period on purchases for 6 months. Discover it cardholders can also earn 5% cash back on up to specific purchases worth $1500 and 1% cash back on all other purchases. And this card is free. It means no annual fees, over limit fees or foreign transaction fees will be charged.
Citi Simplicity Visa Card is another best card to pay debts easily with less interest. This card also does not charge any interest on balance transfers for the first 18 months. But after 18 months, the variable APR is 12.99%-21.99% based on the creditworthiness. This card also does not charge any late fees, penalty fees or annual fees. And no interest will be charged on any type of purchases for the first 18 months. The 3rd best balance transfer credit card is the Barclaycard Ring MasterCard. This card offers 1% cash back on balance transfers made in the first 60 days of opening the account. No balance transfer fee or annual fee will be charged. And a low 8% variable APR is applied on balance transfers and purchases.
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