No Fee Balance Transfers
Two years ago, no fee balance transfer credit cards offering 0% interest rates were widely available. Today, the major credit card companies that offer 0% balance transfers all charge balance transfer fees. While paying these fees does eat into the total savings offered by a 0% APR balance transfer, balance transfer offers with fees offer significantly better savings opportunities than cards that do not charge fees. For example, for every $1000 transferred from a credit card with a 20% interest rate to one that has a 0% for 1 year, but charges a 5% transfer fee, you can save close to $150 on interest. Below you can compare current no fee and 0% APR balance transfer offers and apply online for approval. In most instances, choosing a credit card with a 0% for 1 year will likely provide more savings than credit cards that charge no fees.
Best Balance Transfer Offers
CITI® PLATINUM SELECT® MASTERCARD® |
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- 0% Intro APR on balance transfers for 18 months and 0% Intro APR on purchases for 12 months. After that, the APR will be 11.99%-19.99% based upon your creditworthiness. This APR will vary with the market based on the Prime Rate*
- Extra Cash from Citi: enjoy discounts on gift cards,travel, merchandise and more
- Citi® Identity Theft Solutions
- Secure, free online account management
- No annual fee
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Intro APR on Purchases
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Intro APR on Transfers
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Regular APR
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Annual Fee
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Credit Needed
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0% for 12 Months*
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0% for 18 Months*
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11.99-19.99% Variable*
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None
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Good
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DISCOVER® MORE® CARD |
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- 0% intro APR on balance transfers for a full 15 months, then the Regular APR
- 0% intro APR on purchases for a full 6 months, then the Regular APR
- 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
- Up to 1% unlimited Cashback Bonus on all other purchases
- No Annual Fee
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Intro APR on Purchases
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Intro APR on Transfers
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Regular APR
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Annual Fee
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Credit Needed
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0% for 6 Months*
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0% for 15 Months*
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11.99% - 20.99% (V)
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None
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Good
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BRYANT STATE BANK MASTERCARD® - NO FEE BALANCE TRANSFER |
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- No Balance Transfer Fee
- 3.25% Introductory Balance Transfer Rate for 6 Months
- $20 Annual Fee
- Low Interest Rate of 11.25%*
- $0 Fraud Liability
- 24/7 Online Account Access
- Emergency Cash Advance & Card Replacement
- Worldwide Acceptance
- *See Card Terms and Conditions
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Intro APR on Purchases
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Intro APR on Transfers
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Regular APR
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Annual Fee
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Credit Needed
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n/a*
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3.25% for 6 Months*
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11.25%*
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$20
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Good
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Choosing a 0% Balance Transfer Credit Card
In the past, when just about every credit card company offered 0% balance transfers for a full year and most charged no balance transfer fees, choosing a balance transfer card was pretty easy: go with the lowest fees and the longest 0% period. Unfortunately, choosing a balance transfer offer isn't as easy today. Many credit cards offer 0% rates for 6 or 12 months, based on a review of your credit. Because of this, the best balance transfer offers are the ones that offer a 0% for 12 months to all approved applicants, even if this means paying more in balance transfer fees.
0% Balance Transfers and Increasing Balance Transfer Fees
No fee balance transfer were common before the credit crunch. At that time, credit card companies were basically giving away the store to get your business. 0% balance transfers for 12 to 15 months were common, and fees were generally 3% with a maximum of $75. Today, as you may have already experienced, credit card companies aren't particularly eager to lend, even to good customers. As a result, many companies raised balance transfer fees and decreased 0% interest periods to around 6 months. In the near term, it is unlikely that balance transfer fees with decrease. In all likelihood, more companies will increase these fees. At the same time, 0% interest rate periods will likely hoover around 6 months, with less and less companies offering 0% balance transfers for 1 year.
*Important Disclaimer: See online credit card applications for complete details about terms and conditions. Reasonable efforts are made to maintain accurate information. However all credit card information is presented without warranty. When you click on the “Apply Now" button, you can review the credit card terms and conditions on the issuing company's website.
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