AUSTIN, Texas, Aug. 9, 2016 /PRNewswire/ -- The Citi Simplicity Card is the best balance transfer credit card, according to CreditCards.com. The card was overwhelmingly the judges' favorite due to its best-in-class promotional offer and forgiving stance toward occasional late payments. By offering a 21-month balance transfer period, nearly twice as long as the typical interest-free promotion, Citi has set the Simplicity card far apart from its competitors, judges say. Click here for more information:
"With a balance transfer card, math always wins," says CreditCards.com Editor in Chief Daniel P. Ray. "And the math says that Citi's Simplicity has the lengthiest 0 percent balance transfer period."
The Citi Simplicity card also impressed judges with its consumer-friendly fee schedule and lenient policy on late payments. Additionally, the card doesn't charge an annual fee, making it a friendlier choice for consumers on a budget.
The Citi Double Cash Card won second place for best balance transfer card by allowing cardholders 18 months to transfer a balance and by only charging 3 percent on balance transfers. The Double Cash card was also praised by experts for its generous rewards program, which gives cardholders 2 percent cash back on every purchase when they pay off their balances in full.
The Barclaycard Arrival Plus World Elite MasterCard finished in third place. It showers new cardholders with 40,000 bonus miles -- worth up to $400 in free travel -- and awards two miles for every dollar spent. However, Barclaycard Arrival Plus cardholders only receive 12 months to pay off a transferred balance interest-free, plus they're charged an $89 annual fee after the card's first year.
To help choose the best balance transfer credit cards, CreditCards.com consulted credit card and personal finance experts and nominated three finalists. A panel of five judges – including independent experts and two members of the CreditCards.com staff – separately judged the three finalists and ranked them in order of preference. The card with the best average rank was chosen as the winner.
CreditCards.com is a leading online credit card marketplace, bringing consumers and credit card issuers together. At its free website, consumers can compare hundreds of credit card offers from America's leading issuers and banks and apply securely, online. CreditCards.com is also a destination site for consumers wanting to learn more about credit cards. Offering advice, news, features, statistics and tools, CreditCards.com helps consumers make smart choices about credit cards. In 2015, over 27 million unique visitors used CreditCards.com to find the right credit card to suit their needs.
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