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Balance Transfers

Balance transfer promotional rates on the rise

Summary

Balance transfer promotional rates are getting more generous, with more cards offering lengthy interest-free promotional periods, according to the 2015 Creditcards.com Balance Transfer Survey

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Balance transfer promotional rates are getting more generous, with more cards offering lengthy interest-free promotional periods, according to the 2015 Creditcards.com Balance Transfer Survey.

The survey found 85 of the 100 cards surveyed allow balance transfers, with 44 cards offering low APRs. Of those cards, 38 offer a promotional rate for at least 12 months, up from 33 cards in 2013. The number of cards offering a promotional period of 15 months or longer rose to 17 cards. Ten cards offered them the previous year.

Of the 44 cards with promotional low intro rates, 40 have a 0-percent interest rate while the other four have 4.99-13.90 percent interest rates.

Infographic Balance transfer promotions
 

See related: 0-percent balance transfer payoff calculator , More infographics

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Credit Card Rate Report Updated: November 25th, 2020
Business
13.91%
Airline
15.50%
Cash Back
15.85%
Reward
15.75%
Student
16.12%

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