Best Credit Cards to Get Out of Debt
Debt Help Getting Rid of Debt

7 Best Credit Cards to Get Out of Debt

Written by Jason Steele

Getting out of credit card debt can be one of the biggest challenges in all of personal finance. The convenience of making purchases with your credit card makes it very easy to accumulate debt, and the high interest rates charged by credit cards can quickly add to your balance.

Yet ironically, the right credit card can actually help you to get out of debt. Some credit cards offer new applicants 0% APR promotional financing offers for balance. However, nearly all of the promotional financing offers impose a balance transfer fee.

How to choose the best credit cards to get out of debt
There are three things you need to focus on when you are looking for a credit card with an interest free balance transfer offer to help you to get out of debt. The first is length of the balance transfer offer. These offers will last as little as six months but can extend as long as 21 months.

The next most important factor is the balance transfer fee. Most of these cards will impose a balance transfer fee of 3% of the amount transferred, and some now charge as much as 5%.

Finally, you will want to look at all of the other features and benefits offered by the card. This could include travel insurance and purchase protection benefits, a low standard interest rate, or simply excellent customer service.

The seven best credit cards to help you get out of debt:

1. Chase Slate. This card offers new customers 15 months of interest free financing on both new purchases and balance transfers. But most importantly, it’s one of the only cards offered by a major bank that features a 0% APR balance transfer offer with no balance transfer fee and no annual fee. So long as you transfer your balance within the first 60 days of account opening, you will not be assessed the normal balance transfer fee, which is 5% of the amount transferred.

About the author

Jason Steele

Jason Steele is a freelance journalist specializing in credit cards and personal finance. His work has appeared in many of the top personal finance sites as well as mainstream outlets such as MSN Money, Yahoo Finance, and Business Insider.

4 Comments

  • I have applied for many credit cards for people with bad credit,almost 95% approval rate,got denied all the time for these supposedly credit cards to help re-build your credit score.I have been reading the emails from the ” credit solution program”,and getting some good common sense information,learned a lot about credit scores,I never knew there were 3 credit bureaus, I do now.Going back to the getting a credit card and being denied repeatedly,am skeptic to do it anymore.I had a poor credit score at 577,not good,but by applying for these credit cards lowered my credit score to a little over 400,that’s really bad,this happened by applying for these credit cards,any inquiry goes against your credit score.It currently is going back up,I found 1 credit card place that does help you build your credit score,that is “finger hut”,through Web bank,they specifically give people a chance to show there credit worthiness,thanks to them that is probably the reason my credit score is raising,I made my first ( on time payment),may 1st when it was actually due on the 3rd of this month paying them earlier plus $5 more then the required payment,I got a $300 credit limit, bought a needed vacuum cleaner on sale for $168 and will purchase nothing else till its paid for.After 6 months of on time payments they raise your credit limit.More people should be made aware of “finger hut”that works with people to re-build there credit scores

  • I should have excellent credit as I owe nothing and don’t have any debt except a tax lean of less than 10,000.00 and it kills me that because I have no interest debt or debt I can’t pay back, nobody will give me a credit card with a low rate. Before the Banks tried to shut down and keep everyone’s money, I had a bankruptcy on my record and a foreclosure because of the lack of work nationwide. That was the first year “W” started to ruin the economy by sending jobs over seas. So many companies moved offshore to get tax breaks for each employee they sent across the Pacific or Atlantic, that we had 100’s of thousands of tech employees unemployed and very few jobs for them to obtain. That put a lot of people in debt they couldn’t pay and started a landslide of bankruptcies. I had great credit after my bankruptcy and many companies were sending me low interest card applications which I did not take. After the 2008 thing, my high credit score changed to a low score and most of my history is gone. That is the reason I don’t have and can’t seem to get any credit cards. Is the money of the future going to be in plastic anyway?

  • How about best credit cards that will help the low score person under 600 to raise their credit score ?!? After all, people with good to great credit don’t read your blogs.

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