Zero interest balance transfer cards are usually available. But how many offers there are and how easy they are to get vary based on the economic climate. When times are good, 0% balance transfer credit cards are pretty common because credit card companies can afford to offer attractive terms to attract draw in new customers. People with fair credit may even have a shot at getting a 0% transfer card in such times.
But 0% transfer offers tend to be much rarer during tough times. And those that do exist may be reserved for people with excellent credit. For example, during the worst of the Great Recession, it was nearly impossible to find 0% balance transfer credit cards because most issuers did not want to add indebted customers to their portfolios.
A transfer request’s timing in relation to when you apply for a card also is quite important. In most cases, you will have to ask for a transfer when you submit a credit card application or within 30-60 days of doing so, if you want to get the advertised terms. So we recommend having both the amount you wish to transfer and your current card’s account number ready when you submit a balance transfer credit card application.
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