Credit Cards

Tips, news, reviews, caveats, trends, updates and analysis related to consumer and business credit cards, and prepaid debit cards. From the interest rate specialists @ FedPrimeRate.com

Tuesday, December 19, 2006

0% Intro APR Balance Transfer Credit Cards from American Express -- and You Won't Have to Pay A Balance Transfer Fee

American Express Credit Cards
American Express Credit Cards
Here at www.FedPrimeRate.com, we are constantly on the lookout for the best 0% credit card deals. We live and breath credit card balance transfers, for the simple reason that 0% introductory annual percentage rate (APR) credit cards are, quite easily, the most consumer-friendly financial tools available today.

Allow me to present the anatomy of the perfect 0% intro APR credit card offer -- in my humble opinion, of course. Here are the attributes:

  • 0% Intro APR on both transferred balances and new credit card purchases for at least 6 months
  • No balance transfer fee for the initial balance transfer(s).
  • No annual membership fee
  • A competitive "go to" rate (FYI: the go to rate is the credit card's annual percentage rate that kicks in once the interest-free period ends.)
Right now, the best 0% credit card is the Discover Platinum card, a card that -- believe it or not -- meets all of the above-listed requirements! Citibank (Citi) also has 2 excellent credit cards that meet all of the above, except that they don't offer a 0% intro APR on new credit card purchases.

American Express® Now Has Three, 0% Credit Cards That Are..."Perfect"

Some exciting news for credit card balance transfer fans all across the country: American Express has a new set of consumer credit cards that qualify as "perfect 0% credit cards" -- perfect by my definition anyway -- and these cards offer rewards to boot. They are the American Express INSIDE Rewards cards. Details below:

  • IN:LA Card from American Express

    • 0% Intro APR on transferred balances AND new credit card purchases for 6 months
    • no balance transfer fee for the initial balance transfer(s).
    • no annual membership fee
    • competitive "go to" rate (factors including your credit rating will determine how low your go to APR will be)
  • IN:CHICAGO Card from American Express

    • same benefits as the IN:LA card above
  • IN:NYC Card from American Express

    • same benefits as the IN:LA card above

Of course, it's always important to remember that the terms, conditions, features and benefits of the credit cards we recommend at this website and blog are not set in stone, and therefore can change at any time. So if you plan on taking advantage of any credit card offer recommended here, try not to procrastinate.

Looks like the competition among the major credit card companies is heating up. Let's hope the trend continues!

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