Stacy Innerst, Post-Gazette Click illustration for larger image.

If you like switching credit cards to take advantage of the latest promotional rates, brace yourself. The best deals are beginning to dry up.

A number of big issuers have started charging balance transfer fees again after getting rid of them in recent years. What's more, the ubiquitous 12-month, zero-percent teaser rate appears headed for the scrap heap.

"I'm not confidant there will be any zero percent offers a year from now," said Curtis Arnold, founder of Cardratings.com, which tracks credit card rates and terms.

The string of interest rate hikes by the Federal Reserve over the last two years, along with more consumers playing the balance-transfer game -- skipping out on fat interest rate charges by shuffling revolving debt from one introductory zero percent offer to the next -- are cutting into card companies' profits and prompting them to get stingier with their offers, Mr. Arnold said.

Besides reintroducing balance transfer fees, some issuers also are raising or eliminating the traditional $50 to $75 cap. That means a cardholder transferring a $10,000 balance to a card with a 3 percent balance transfer fee and no cap would fork over $300. "It's a real blow to consumers," Mr. Arnold said.

That's not to say revolvers can't find any good deals. One of the biggest issuers, Capital One (1-800-542-0167), has been pitching a particularly attractive platinum Visa card for customers with excellent credit. It features zero percent interest on balance transfers and on new purchases for 12 months. There's no balance transfer fee or annual fee, and purchases earn points toward free travel on any airline.

Cardholders can charge away and let their balance ride interest-free for a full year. When the day of reckoning comes, the annual percentage rate on balances and new purchases jumps to a variable one that currently stands at 9.99 percent.

		A number of Web sites can help you in your quest to find the best credit card deals. A few to try: Cardratings.com Bankrate.com Indexcreditcards.com Lowcards.com Creditcards.com Cardweb.com.

That's a pretty good rate considering the average credit card rate is in the mid-teens, Mr. Arnold said, although the rate could -- and probably will -- be higher a year from now. If you qualify for that card or a similar one, grab it, he said, as long as you can pay off your balance when the teaser rate expires.

"That's a great offer in today's market," he said, noting that few balance transfer cards extend their zero-percent introductory rate to new purchases without charging a balance transfer fee.

Locally, PNC Bank (1-866-354-4831) last month started offering a Visa card with terms similar to Capital One's. Customers who sign up before Jan. 1 also receive a $50 credit on their statement with their first purchase.

How can card companies afford to offer what amounts to a yearlong interest-free loan?

"They're counting on you running up a balance so at the end of the year you won't have the card anywhere close to being paid off," Mr. Arnold said. At that point, interest charges start rolling in.

If you have a substantial balance that you don't expect to retire for a number of years, a better option than the one-year, zero-percent deal may be to get a card that lets you lock in a low annual percentage rate on balance transfers.

American Express (1-800-641-2400) offers a Blue card with a 4.99 percent rate on balance transfers that's fixed no matter how long it takes to pay off the balance, plus zero percent on purchases for up to 15 months, depending on the applicant's credit rating. There's no balance transfer fee if customers apply online.

Of course, the best card deals are reserved for consumers with the best credit. If you apply for a card but don't have good credit, the issuer may send you a card with less favorable terms even though you were expecting the advertised offer.

The best way to protect yourself from costly surprises is to read the fine print in your card agreement.

"It isn't enticing reading but it should be done because it spells everything out," said Bill Hardekopf, chief executive officer at Lowcards.com, another credit card information Web site.

Be sure to find out what the interest rate will be when the introductory period is over. Some issuers may offer a decent rate on new purchases, but will convert the rate on the transferred balance to the same rate as cash advances, which could be 20 percent or more.

Balance transfer cards can be particularly tricky when the teaser rate doesn't apply to new purchases.

Some cardholders use their cards not realizing that any payments they make typically are applied to the lower-rate balance first, allowing balances at the higher rate to pile up.

If that's the case, Mr. Arnold said, "when you do a balance transfer, throw the card in the freezer and don't use it unless it's an emergency." Then get another card with a lower rate for purchases.

As with any credit card, be careful not to pay late or go over your credit limit. Not only will you get hit with fees, you could have your introductory rate revoked and be slapped with a default rate of 30 percent or more.