Balance Transfer Offers Essentially Unchanged According to the May 2012 SBT Monthly Index

NORWALK, Conn., May 24, 2012 /PRNewswire/ -- Following a relatively turbulent first quarter, credit card balance transfer offers have remained stable over the past two months according to the SmartBalanceTransfers.com monthly 0% balance transfer index.

Average 0% balance transfer lengths in May were unchanged from April at 12.68 months. This figure represents a 7.5% increase over May of 2011 and a 4% increase since the start of the year.

Balance transfer fees dropped from 3.09% to 3%, slightly above the multi year low of 2.95% reached in February of 2012. Since May of last year, balance transfer fees have fallen 12%.

According to Jeffrey Weber, founder of SmartBalanceTransfers.com, "There isn't a ton of activity in the balance transfer space right now – and that is good for consumers. Banks appear to be riding out Q2 with the same offers, some of which remain quite good."

Chase and Citibank continue to set the bar and any substantial change in offers from these banks could have significant ramifications on the marketplace.

"Chase, via its no fee balance transfer Slate offer, continues to keep average balance transfer fees low, while Citibank's pair of 18 month 0% balance transfer offers continue to keep average lengths high. Should either bank retool their offers in a less consumer friendly way, consumers will be faced with relatively lackluster offerings," said Mr. Weber.

About the SBT 0% Balance Transfer Offer Index

Updated monthly, the SBT 0% Balance Transfer Offer index reflects the average fees and 0% APR promotional periods for a basket of 22 credit card offers.  These offers represent all banks with pertinent offers included in the J.D. Power annual credit card satisfaction survey, including Citibank, Chase, Discover, Capital One, Bank of America, Barclay's, Wells Fargo and U.S. Bank.

For additional commentary on April's survey, please see http://www.smartbalancetransfers.com/blog/2012/05/may-2012-sbt-balance-transfer-index-806/

About SmartBalanceTransfers.com

Founded in 2007, SmartBalanceTransfers.com (http://www.smartbalancetransfers.com/) is a leading destination for consumers seeking targeted information on balance transfer credit cards. SmartBalanceTransfers.com provides visitors with in depth analysis of credit card offers as well as expert advice and tools to help consumers make wise choices when transferring credit card balances.

CONTACT: Jeffrey Weber, +1-203-651-9739

SOURCE SmartBalanceTransfers.com