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The best option while eliminating a high-interest debt is to shift to a card that offers 0 or low interest rates for the balance transfers. There are many versatile cards which charge low interest rates on balance transfers. Customers make a decent sum in savings by shifting to these cards where they basically borrow interest-free money for a period of time. Given below is a list of decent balance transfers that are available from different issuers.

0% balance transfers don't just end with a balance transfer check as getting a 0% loan on the card is fairly simple. The tougher part is managing the ropes when it comes to the micro finance part of the whole deal. The whole process of managing the details of the balance that is transferred from the card to the expiry of the promotional offer is the tricky part. But once a person gets a better understanding and familiarizes oneself with these issues, it gets relatively simpler and it is found to be pretty straightforward. As is the case with all financial dealings one has to weigh the pros and cons before making a decision and be well prepared to take some calculated risks.

Balance transfers could be used to either reduce debt or in balance transfer arbitrage. For customers who struggle due to the high interest rates with their card debt and yet manage to maintain a fairly decent credit score, moving the debt to a 0% APR balance transfer works well.

Given below are a list of card companies that offer 0% APR on balance transfers and there is no annual fee charged. All balance transfers usually are for a period of up to one year, while there may be a few that has longer periods typically about 18 months.

• Chase Slate Card - 0% APR on purchases for up to one year.

• Citi mtvU Card for Students - (4%) - 0% APR on purchases valid for about seven months (one needs to qualify for this).

• Citi Forward Card - (4%) - APR for seven months on purchases and one year on balance transfers with a sign-up bonus as a special offer.

(The percentages of balance transfer fees as well as maximum transfer fees are given in the parentheses)