[UPDATE: Some offers mentioned below have expired and/or are no longer available on our site. You can view the current offers from our partners in our credit card marketplace. DISCLOSURE: Cards from our partners are mentioned below.]
If you’re carrying a balance on a high-interest credit card, you might want to take a look at Slate from Chase – Limited Time: No Balance Transfer Fee. This is a pretty good deal. The balance transfer fee is usually 3 percent, so if you’re transferring, say, $8,000, you save $240. But take note that if you do decide to apply for this card, you must do your balance transfer within 30 days of opening your account to take advantage of the waived transfer fee.
This card is also offering a zero percent intro APR on balance transfers for either 12 or six billing cycles, depending on your credit history. If you can pay off your balance before the intro rate ends, you can save a bunch on interest expense. Just be sure you make your payments on time every month. If you’re late with a payment, you could lose the intro APR.
Here are some of the highlights:
Purchase APR: Slate from Chase does things a little differently. There are three pricing tiers: elite, premium and standard. You get a zero percent intro APR for 12 billing cycles if you qualify for elite or premium pricing. The variable APRs for elite and premium pricing are 11.99 percent and 16.99 percent, respectively. The variable APR for standard pricing is 21.99 percent.
Balance transfer APR: The elite and premium pricing tiers offer the zero percent intro rate on balance transfers for 12 billing cycles, but the standard pricing only offers the zero percent intro rate for six billing cycles. So if you only qualify for standard pricing, be aware that your intro rate shoots up to 21.99 percent at the end of six months.
Annual Fee: None
Foreign transaction fee: 3 percent
Blueprint: This is a free and easy-to-use money management tool for Chase customers. With Blueprint, you can set up payment plans to pay down your debt faster, create goals, track your spending and more. There’s also a “Full Pay” option that lets you choose which categories, such as groceries and dining, you’ll pay in full every month so you avoid paying interest on those items.
Now, if you don’t think you can pay off your balance in 12 months, then consider a balance transfer to a credit card with a longer zero percent intro APR period, such as Discover More Card – 18 Month Promotional Balance Transfer (3 percent fee if done by 2/10/12; 5 percent after that) or Citi Diamond Preferred Card, which has a 21-month zero percent intro APR (3 percent fee).
At publishing time, Slate from Chase – Limited Time: No Balance Transfer Fee, Discover More Card – 18 Month Promotional Balance Transfer and Citi Diamond Preferred Card are offered on Credit.com product pages and Credit.com is compensated if our users apply for and ultimately sign up for any of these cards. However, this relationship does not result in any preferential editorial treatment.