0% Balance Transfer for 24 Months

The Discover no fee balance transfer offer expired yesterday, meaning there aren’t any balance transfer credit cards out there still offering 0% APR with no fee.

But they’ve decided to extend their promotional 0% balance transfer for 24 months indefinitely, which was slated to expire as well.

This is one of the best balance transfer credit cards available at the moment because it offers 0% APR for a full 24 months.

That means you won’t pay any finance charges for two years, which certainly gives even the most debt-riddled consumer plenty of time to pay off their debt without being hit with unnecessary interest.

The only downside to this offer is the 5% balance transfer fee, but it definitely beats paying the standard credit card APR, which typically ranges from the mid-teens to the 20% range and higher.

Let’s look at an example of the potential savings:

Current credit card debt: $2,500
Current credit card APR: 19.99% APR
Balance transfer offer: 0% APR for 24 months

Though you would have to pay $125 in balance transfer fees in our example, you would save $41 per month and $500 a year by avoiding credit card finance charges (using simple math).

So as you can see, it’s a very effective way to save money and get out of debt.

Take advantage before this deal disappears as well.

Update: Offer has now expired. The offer is now 0% APR for 18 months…

Apply here.

Related: How to pay off credit card debt.