Best Chase Balance Transfer Credit Cards

0

Peopleimages / Getty Images

Having credit card balances can force you into deep debt before you know it, especially if you are only making minimum payments. Transferring balances on a 0% credit card can save you a significant amount of money in interest and pay off debt faster.

Chase has three credit cards that offer 0% introductory financing on balance transfers and a $ 0 annual fee. Each includes additional benefits, such as free access to your weekly credit score and tools to help you stay on top of your credit.

3 best balance transfer credit cards from Chase

Read on to learn more about the best Chase balance transfer credit cards and how they can help you clear your debt while also earning cash back and other rewards.

Menu Characteristics
Chase Freedom Flex Credit Card Best for: Bonus Category Cash Back

-14.99% to 23.74% variable APR
– 0% introductory APR on purchases and balance transfers for 15 months; $ 5 or 3% balance transfer fees apply
-5% on combined spend up to $ 1,500 in bonus categories
-5% on trips purchased through Chase Ultimate Rewards
-3% on purchases at restaurants and pharmacy
-1% on everything else
– $ 200 bonus when you spend $ 500 on purchases in the first three months after opening the account, plus 5% cash back on up to $ 12,000 in grocery purchases during the First 12 months
-3 months of free DashPass by DoorDash; 50% discount for the next nine months
-3% foreign transaction fees
-0 $ annual fee

Chase Freedom Unlimited Credit Card Best for: Daily expenses

-14.99% to 23.74% variable APR
-0% introductory APR on purchases and balance transfers for 15 months; $ 5 or 3% balance transfer fees apply
-5% cash back on trips purchased through Chase Ultimate Rewards
-3% on purchases at restaurants and pharmacy
-1.5% on all other purchases
– $ 200 bonus when you spend $ 500 on purchases in the first three months after opening the account, plus 5% cash back on up to $ 12,000 in grocery purchases during the First 12 months
-3% foreign transaction fees
-0 $ annual fee

Chase Slate Edge Credit Card Best for: low APR

-14.99% to 23.74% variable
– $ 100 statement credit when you spend $ 500 on purchases in the first six months after opening the account
-0% introductory APR on purchases and balance transfers for 12 months
-Up to 2% decrease in APR per year when you pay on time and spend at least $ 1,000 by the next account anniversary date (minimum APR is 12.99%)
-Automatic credit limit review when you pay on time and spend $ 500 in the first six months after opening the account
-Eligible for My Chase Plan buy now pay later
-3% foreign transaction fees
-0 $ annual fee

Chase Freedom Flex Credit Card

Best for: Cash back by bonus category

The Chase Freedom Flex card offers an introductory 0% APR on balance transfers to give you ample time to reduce your credit card debt – if not pay it off entirely. Until then, you’ll earn 5% Cash Back on up to $ 1,500 in purchases in any bonus spend category or with the merchant you activate each quarter. Once you’ve reached the $ 1,500 limit, the rewards will automatically revert to 1% for subsequent purchases.

Advantages

  • Great introductory offer for balance transfers
  • Leading flexible bonus categories and merchants that change quarterly
  • Generous and easy to earn bonuses for new cardholders
  • Free and discounted DoorDash DashPass subscriptions
  • $ 0 annual fee

The inconvenients

  • $ 5 or 3% balance transfer fee, whichever is greater
  • Must activate bonus category / merchant quarterly to earn 5% reward
  • 3% foreign transaction fees

Who would benefit from this card? Customers who want the flexibility of rotating 5% cash back categories.

Chase Freedom Unlimited Credit Card

Best for: Daily expenses

Rather than providing limited rewards on rotating bonus categories and merchants like the Freedom Flex card, the Chase Freedom Unlimited card increases the lowest reward to 1.5% on all non-discounted purchases. in silver of 3% or 5%. Whether it’s likely to make you more money in the long run depends on what you spend and what you buy, but with this card, there’s no guessing – you always know what reward you’re earning. Plus, you get the same introductory 0% APR on balance transfers for 15 months.

Advantages

  • Great introductory offer on balance transfers
  • Predictable cash back rewards on purchases
  • Generous and easy to earn new member bonus
  • Free and discounted DoorDash DashPass subscriptions
  • $ 0 annual fee

The inconvenients

  • $ 5 or 3% balance transfer fee, whichever is greater
  • 3% foreign transaction fees

Who would benefit from this card? Customers who want to maximize their income from their daily expenses.

Chase Slate Edge Credit Card

Best for: Low APR

The Slate Edge Balance Transfer Card comes with an introductory 0% rate on balance transfers for 12 months. This card does not offer cash back on purchases, but it can save you money by reducing your APR by up to 2% each year. And you can avoid incurring interest charges on new debt with the My Chase plan. The plan allows you to make equal monthly payments on purchases of $ 100 or more for a fixed monthly finance charge.

Advantages

  • 0% introductory APR on balance transfers for 12 months
  • Possibility of reducing the APR
  • Easy to earn bonus credit for new cardholders
  • Automatic credit limit review for eligible cardholders
  • Eligible for My Chase Plan
  • $ 0 annual fee

The inconvenients

  • Less advantages than Freedom cards
  • $ 5 or 3% balance transfer fee, whichever is greater
  • 3% foreign transaction fees

Who would benefit from this card? Customers whose primary use of the card is to consolidate higher interest credit card debt.

Choosing the Best Chase Balance Transfer Credit Card for You

Which of the three Chase Balance Transfer Cards is right for you depends on how much debt you are transferring and how you plan to use the card other than paying off those balances. Both Freedom cards give you 15 months of interest-free financing on balance transfers as well as generous cash back rewards, but you’ll pay at least 14.99% APR after the promotional period ends. The Slate Edge card gives you less time to pay off transferred balances. However, a 2% rate reduction at the end of the promotional APR makes carrying over any outstanding balances a little less expensive.

Methodology: GOBankingRates identified the best balance transfer credit cards by analyzing all banks with over $ 100 billion in total assets, as well as the three largest credit unions based on the following factors: (1) length of bank 0% introductory APR for balance transfers; (2) 0% APR term for purchases; (3) balance transfer rate; (4) balance transfer fee; (5) the costs of transfer abroad; (6) annual fee; (7) buy an APR; and (8) any benefits associated with a card that could extend its value beyond the promotional APR period. All fees and rates are subject to change at the discretion of the credit card issuers. Some offers may not be available on the websites of credit card issuers, depending on how you access the web page. The data is taken from the financial institution‘s website or promotional material between August 4, 2021 and September 28, 2021. Please check the terms and conditions before opening an account.

Editorial note: this content is not provided or commissioned by the bank advertiser. The opinions expressed herein are solely those of the author, and not those of the Bank Advertiser, and have not been reviewed, approved or otherwise endorsed by the Bank Advertiser. This site can be remunerated through the affiliate program of the bank advertiser.

About the Author

Daria Uhlig is a personal finance, real estate and travel writer and writer with over 25 years of editorial experience. His work has been featured on The Motley Fool, MSN, AOL, Yahoo! Finance, CNBC and USA Today. Daria studied journalism at County College of Morris and received a communications degree from Centenary University, both located in New Jersey.


Source link

Share.

Leave A Reply