Fixed APR Balance Transfer Rumor Mill
Though the internet is a very useful tool for gathering information, unfortunately it is also filled with misinformation. We have received several emails with questions about 0% APR fixed balance transfers for the life of the balance. Upon doing some research, we have found that these do not exist. We posted our findings on our website a few months ago, yet still, the emails continued from people looking for these types of deals.

Because of these emails, our writers called several major issuers to look closer into the matter. The customer service reps from these companies did not deny that at one point in time there were promotional offers given to highly qualified individuals offering 0% fixed APR balance transfers for life. However, these deals were only presented to those with long-standing relationships with the issuer or to those with extremely high FICO scores and completely clean and established credit histories. Additionally, due to current economic conditions and the overall instability of the lending industry, such promotional offers have ceased.

When you think about it, 0% fixed APR balance transfers make no sense from a lending perspective. By allowing someone to transfer a balance and not pay any interest on the card forever, the bank has no insurance that they will ever receive any money from the consumer. This is why banks were very selective as to whom they once offered 0% APR balance transfers for life. Those that they were willing to take a chance on were people who they deemed the top tier of potential lendees.

The Solution:
In our opinion, f you are seeking a 0% fixed APR balance transfer for life, the best course of action is to apply for a credit card with no annual fee. Do not transfer a balance to this card. Use the card frequently and pay the balance off in full every month. After a year or more has gone by, call the issuer of this card and ask for a 0% fixed APR for balance transfers. This may or may not work, and it does you no good if you need to transfer your balance immediately. However, unless you receive a promotional piece of mail offering a 0% fixed deal (which is highly improbable) this is the best approach to take from our perspective based on the information we have gathered.

Fixed APR Balance Transfer Alternative:
In the interim, the best alternative to 0% fixed balance transfers is to apply for a no fee balance transfer credit card or an offer that comes with an interest free introductory term for balance transfers. Fortunately, offers with both of these perks have been reintroduced recently by Capital One®. Up until about 2 months ago, all 0 apr balance transfer credit card deals with no transaction fee had been completely removed from the market. Capital One has made a strong move by introducing several offers with no fee balance transfers. If you apply for one of these credit cards, you may transfer your balance easily online and save yourself money.