Citi has released a new credit card balance transfer that offers 0% APR for up to 18 months. Yep, 18 months.
Either way, this is the first time I’ve seen a credit card issuer offer 0% balance transfer APR for longer than 16 months. And it comes as a surprise given the relative fragility of the economy at the moment.
The 0% APR for 18 months offer is tied to the Citi Platinum Select MasterCard, and applies to both purchases and balance transfers.
Additionally, the company is offering a $30 statement credit for first-time cardmembers if they make at least $30 in purchases during the first three months.
The standard variable purchase APR can be as low as 9.99%.
I guess things are looking up at Citi; their stock price has certainly risen in recent months and the government already announced plans to sell their stake.
The only question now is will someone step up and offer 0% APR for 24 months? Stay tuned.
Related offer: Discover is currently offering 0% APR on balance transfers for 18 months – they don’t use the “up to” verbiage.