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.
Update: Unfortunately, this offer is no longer available. Check out the longest 0% APR periods in the business with our balance transfer credit card tool!
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.
Be sure to take advantage of this “best in show” offer. As you can see from our balance transfer cards page, and our low APR credit card page, which compare the rates of hundreds of cards side by side, the introductory periods put this card at the top of all of our lists for lowest effective annual rate over a 2 year period. You can play with other time frames as well to see how this card stacks up over longer periods of time. The higher ongoing rate that kicks in after 2 years does make an impact, but you’ll be surprised how powerful 0% can be, even long after the introductory period is over.