Balance transfers allow you to obtain a lower interest rate with another card or other benefits.  A balance transfer is a great option if you are trying to get yourself out of debt.  As it stands in some places like the UK the balance transfer deals are being taken off the market.  The credit card companies are really suffering with the recent credit crunch so they are trying to make money anyway they can and to offer you are deal with zero percent interest on balance transfers for 15 months is not always the way to accomplish this feat.  Don’t get discouraged though.  There are companies like American Express, Citibank and Discover who are still offering some of the best balance transfer credit cards you can find.

The best balance transfer credit cards are the business cards.  This obviously doesn’t help you if you don’t have a business, but if you are one of those that does you will find that the balance transfer credit cards through Capital One, Discover, and American Express offer zero percent interest for nine to fifteen months depending on the card company for a business account.  These cards do not have fees associated with them like annual fees and some don’t have the balance transfer fees.  You also find they offer the best annual percentage rates overall.

If you need a personal account some of these same companies are still going to have the best credit card deals out there. American Express is offering a card right now for an annual percentage rate if you have a credit score between 720 and 850.  There is no fee, you get to earn points and the balance transfer of zero percent is available until October of 2008.  This means the card will allow you to transfer a balance in the first 30 days of opening the account and you get to have the zero percent on balance transfers.  They also offer the same thing on the purchases.  It is always better to save where you can.  They do have a small balance transfer fee that is different from the interest.  This fee is a percentage of the total balance you transfer and 3%.  If you transfer 3000 dollars you can expect to pay a fee of 3% of 3000.

Citibank is another card that has a great balance transfer deal.  For a rate as low as 7.99% and an introductory rate of zero percent on balance and purchases for 12 months you can obtain this card.  There is no annual fee.  They also allow this card to go out to those with little or no credit.  So if you have a low number then you are assured of getting this card.  They do reserve the right to up the regular annual percentage rate if you fall in the low numbers.  Most of the cards are going to be like this.  They reserve the best rates for those who pose little risk for the best benefit to the consumer.