For the first time since the financial crisis, credit card issuers in the U.S. is more than willing to lure cardholders with attractive credit card balance transfers offer.
During the financial crisis, 0% balance transfers offer was hard to come by and if available, only limited to 6 months.
However, credit card issuers is taking the extra initiative in the new year 2011, immediately after the Christmas season, expecting there might be cardholders overspend and need some relieves to their accumulated debts.
The balance transfers war caught fire in the early January 2011 when Chase introduced 18 months 0% balance transfers and purchases with Chase Slate Card.
Before the war started, Discover More Card is the leader in 0% balance transfers with 18 months offer. Now with the game heating up, Discover More Card matching if not exceeding their rivals by offering a range of limited time promotion(valid through February 28, 2011).
With the new promotion, it once again taking the lead with 24 months 0% balance transfer offers.
More significantly, one of the Discover More Card is offering “No Balance Transfer Fee” on 0% balance transfers for 12 months, which is not available ever since the financial crisis. In fact, the balance transfer fee has been increased to as high as 5% after the financial crisis.
To fully take advantage of the balance transfer war, cardholders are encouraged to pay off the debt within introductory offer period. Even if it is not possible to pay the balances in full within the introductory offer period, it is to your advantage to put extra efforts in paying as much as possible in the given period.