Last Reviewed: 6/17/2011
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On March 1st of 2011 Southwest Airlines introduced its newly revamped Rapid Rewards loyalty program–replacing the older, more complex program, with something that doesn’t require so much deep thought to understand. This required PlasticIQ to revist its previous estimate of the value of Southwest Airlines points.
Last Reviewed: 6/10/2011
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Recently Amex scrapped the Blue Cash Card, and replaced it with 2 variants: Blue Cash Everyday and Blue Cash Preferred. Generally speaking, Blue Cash Everyday performs similarly to the Preferred version at relatively low levels of monthly spend (around $700 per month) when used on all types of purchases, and can outperform Blue Cash Preferred at spend levels of $500 or less.
Last Updated: 1/5/2012
The folks at PlasticIQ have scoured the web, including competing blogs, in a thorough effort to identify the best balance transfer offers in the marketplace. Note that this post changes often as new offers come online and other offers end, so bookmark this page.
Currently, Discover has the only no-transfer-fee offer on the market (that we are aware of). In addition, Citi has a nice 18-month promotional balance transfer rate, so all in all we think we’ve identified some of the best balance transfer credit cards around.
Cards with no balance transfer fees and 0% APR are the equivalent of free loans, assuming you play it smart by always paying at least the minimum monthly payment. The Discover More Card is the only active offer, although Chase just canceled their offer (via Chase Slate card).
Discover More No Fee Balance Transfer Offer. This is a fanstatic balance transfer offer. There’s no balance transfer fee and a 12-month 0% promotional APR on balance transfers. After the promotional period ends, your APR will range from 10.99% to 19.99% depending on your credit score.
Apparently Discover only allows you to have 1 Discover credit card at any given time (relatively new policy). Thus, if you want this offer you will have to close out any other Discover card(s) first.
Also note that your balance transfer must post to your account by 7/10/2012, and this offer ends on Feb 28. 2012. Finally, Discover has many card offers floating around the web; to be sure to get the no-fee offer, either read the fine print carefully, or (easier!) just follow our link right above.
While sometimes it makes sense to get a 12 month loan for free, there are other situations where you may want a longer-term 18-month balance transfer, and are OK paying the 3% balance transfer fee. Remember, a 3% fee spread out over 18 months amounts to a very low annual interest rate.
Citi Diamond Preferred 18-Month Balance Transfer Offer. While there’s a 3% balance transfer fee on the Citi Diamond Preferred Credit Card, bear in mind that you’ll pay no interest on balances you transfer for a whopping 21 months. That’s some serious piece of mind. You’ll also pay no interest on any purchases you make during the first 18 months–really nice! After the promotional period, your APR will range from 11.99% to 21.99%, depending on your credit level. There’s also no annual fee on this card.
Citi Platinum Select 18-Month Balance Transfer Offer. This balance transfer offer is basically identical to the Citi Diamond Preferred offer. They both offer a 18-month promotional balance transfer and purchase APR of 0%, followed by an APR ranging from 11.99% o 21.99%. Maybe there’s a difference between them, but it’s hard to spot.
Discover More 18-Month Balance Transfer Offer. The Discover More offer provides you with an 18-month 0% APR rate balance transfers and 0% APR on purchases for 6 months. Balance transfers must post to your account by 7/12/2012. There’s no annual fee, but there is the 3% balance transfer fee. After the promotional period ends, your APR will range from 10.99% to 20.99%.
Frankly, in the field of long-duration balance transfers, we like either the Citi Diamond Preferred or Citi Platinum Select the most. The 18-month Discover More balance transfer offer should be treated as a fallback (unless you want to grab both offers!).
