Citi Platinum Select Offering 0% APR on Balance Transfers for 24 Months

Citi Platinum Select offers 0% APR on balance transfers for a limited period.
Tim Chen
By Tim Chen 

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The Citi Platinum Select, already the best balance transfer card we've ever seen, just got better. They are bumping up their 0% introductory balance transfer APR period from 21 months to 24 months. This follows on a string of increases earlier this year, as the generous promotion has gradually climbed from 12 months to 24 months.

What does 24 months of 0% APR really mean?

To put this in context, even when you factor in the 3% upfront fee, 0% for 24 months results in an effective interest rate of less than 1.5% over a 2 year period. So if you're currently carrying credit card debt and are considering consolidating, you won't find a lower interest rate anywhere, including things like HELOCs or P2P lending. Of course, Citibank is counting on you keeping the card after 2 years and running up a balance at a much higher interest rate, but if you can pay your debt off in a couple of years, this is hands-down the best way to do so.

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