Finest No Balance Transfer Fee Credit Cards – September 2023 – We recommend products based on unbiased research by our editorial team. We may receive compensation if you click on the link. Read more.
From planning a trip to remodeling your home, there are plenty of good reasons to apply for a 0% no-fee balance transfer credit card. In this way, your vacation or renovation is financed with an interest-free loan. And with no annual fees and few other costs to worry about, that balance can be paid off on time. I’m good to go!
Finest No Balance Transfer Fee Credit Cards – September 2023
Did you know, however, that 0% no-fee balance transfer credit cards are also a great way to pay off other types of high-interest debt?
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If you find yourself stuck with other high-fee, high-interest credit cards, an effective strategy is to get rid of the debt with a balance transfer to a 0% balance transfer credit card account.
In this way, you can pay off your debt without accumulating additional interest for an introductory period. And those introductory periods can last up to 20 months after opening the account. Meanwhile you can also benefit from a lower monthly payment: it’s hard to beat!
In this guide, I’ll tell you what you need to know about the best 0% no-fee balance transfer credit cards, along with some tips and advice for using your new credit card as an effective management tool of the debt.
There are many good reasons to buy the best 0% no-fee balance transfer credit cards: Financing a big-ticket project, for one, or taking that dream vacation. But most importantly, pay off the debt accumulated on other more expensive credit cards.
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To find the right card for you, I have divided the results into the following three categories:
Stick around for a closer look at each card in the ranking. Before we get into any of this, however, we first define a 0% balance transfer, with some important tips not only on how to apply for your new Chase card, but also how to get the maximum account once open .
It’s really quite simple how 0% balance transfer credit cards work. Many credit cards allow you to transfer balances, and most charge a fee for the service. It is also common for credit cards to offer an introductory period without interest, which means that any debt accumulated on the account can be paid during that time without paying additional interest or accruing interest on any new charges.
Finally, it is not uncommon for the credit card company to enter into a contract with consumers, not offering an annual fee to maintain the account, as long as certain minimum requirements are met. With this in mind, the best 0% no balance fee offers the best combination of the following benefits, and for this reason, it can be argued that they are the most desirable type of credit card of all:
Best Balance Transfer Credit Cards, With 0% Interest For Up To 21 Months
Here are some additional types of debt that could be transferred to your new credit card:
Plus, many of the top cards in the rankings have great cash back and rewards programs that help you earn while you spend, and with some introductory periods lasting up to 20 months, you won’t accrue extra interest in the meantime.
Balance transfer fees are usually between 3% and 5% of the debt. Depending on the level of debt, this can add up to a lot.
On a balance of about $10,000, for example, it would cost between $300 and $500 to transfer the balance. Not a small amount. But trust me when I say, what can be saved in interest makes it worth it.
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Do the math and it’s clear that a 0% balance transfer can be worth it. Especially for those who are under debt with credit cards that pay high interest rates or no introductory period of 0% APR.
The average APR on a credit card is around 15%, although it can be much higher than that. Some APRs, or annual percentages, are fixed, while others are variable. This means that the interest rate on your loan can change while the balance is being paid. That’s a lot to keep track of.
With most 0% APR introductory periods lasting from 12 to 20 months (US Bank Visa at the top of this list has a 20-month introductory period, for example), consumers could pay at least $ 1,500 additional in interest on their Balance. of 10 thousand dollars over a year, sometimes more.
Don’t forget, you’ll be hit with a balance transfer fee – somewhere between $300 and $500 for most cards, but again: mark that $10K balance and pay it all off in the introductory period of 0 % APR , and you will certainly be. save money in the long run.
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Especially when you think about it, there is no annual fee on any of the cards I reviewed. Plus, with cashback and rewards programs, you can earn while saving.
Be here to find the best 0% no fee balance transfer credit cards. In the next section I’ll tell you everything I liked and a few things I think you should know about each card I’ve reviewed.
That puts the Visa Platinum card at the top of the ranking on the strength of a long introductory period of 0% APR. At 20 months, it’s actually among the longest introductory periods available, meaning that with Visa Platinum, you’ll have plenty of time to pay off the debt without extra interest in the meantime. Also, it’s 0% APR on balance transfers
However, that’s not all I liked about Visa Platinum. There is no annual fee and the flexibility to schedule your payment when it is most convenient for you and your budget. Plus, using your phone to pay your bill means taking advantage of the Cell Phone Protection Plan, which covers up to $600 in damage and theft with just a $25 deductible (terms, conditions and exclusions apply ).
Best Balance Transfer Credit Cards With No Fee In 2023
Otherwise, the card is only available to those with good to excellent credit, and after the introductory period, it has a variable APR between 14.49% and 24.49%. But this is quite average in the credit card industry, and the choice of US Bank Visa Platinum means that it supports one of the most ethical companies in the world, according to a 2021 ranking by the Ethisphere Institute.
There are a few other things that consumers should be aware of about the Visa Platinum card. I will cover them now. Crucially, there’s no rewards or cashback program through the card, so earning while you spend isn’t just an option with Visa Platinum (read on if cashback and rewards are a priority for you).
But with average balance transfer fees at an all-time low of just 3% and that generous 0% APR, the card is hard to beat for paying off debt without extra interest.
Plus, that mobile protection plan really sets the card apart among the best 0% no-fee balance transfer credit cards on the market.
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If you want to not only pay off another high-interest credit card debt, but also earn some rewards while you’re at it, maybe a vacation? – then the next card in the ranking is right for you.
With the Wells Fargo Active Cash Card, you’ll enjoy 0% APR for 15 months after account opening, including balance transfers made within the first 120 days. There is a 3% balance transfer fee, and after the first three months, a 5% balance transfer fee with a $5 minimum and an ongoing 0% APR.
What I really like about the card, though — good for anyone with excellent credit — is the $200 cash back bonus after spending a lot in the first three months after opening the account. There’s also 2% cash back on all purchases, with no annual fee.
Best of all, these benefits come with no category restrictions to worry about, nor do they expire as long as the account remains open. If there’s a vacation in your future, listen up. That’s because the Active Cash Card offers tons of benefits through some of the world’s best hotels through Visa Signature Concierge.
Zero Is The Best Rate!
However, there are foreign transaction fees, so if overseas travel is in your future, you may want to reconsider.
Other things to know before choosing Well Fargo include the 14.99% to 24.99% variable APR after the introductory period. But Wells Fargo will cover your phone up to $600, with a $25 deductible if you pay your bill with your phone.
All things considered, the low introductory April balance transfer fee, $200 cash back bonus and 2% rewards, along with several benefits specifically for domestic travel, make the Active Cash Card the best credit card with no fees and 0% for balance transfer. reduce debt while saving for the holidays.
Rewards are a good feature to have on any credit card. Even better are the cash back rewards, especially if you’ve financed something like a home improvement project. This is where the next card in the list of the best no-fee,