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No Balance Transfer Fee Credit Cards |
When available, no fee balance transfer credit card offers provide consumers the opportunity to increase balance transfer savings by eliminating the pesky fee credit card companies charge for each balance you transfer. Since the fall of 2008, most major credit card companies stopped offering 0% APR no fee balance transfers, although at present there are two no fee offers available with 0% rates lasting up to 12 months. Apart from these offers, a good long term balance transfer offer will carry a 3% fee and offer a 0% APR for 15 months or longer, as many cards charge fees of up to 5%.
Below you can compare current low and no fee balance transfer credit cards. To learn more and start saving money, simply click the apply button.
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Low Fee 0% APR and No Fee Balance Transfer Credit Cards |
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Compare More 0% APR Balance Transfer Offers
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About No Fee Balance Transfers |
No Fee Balance Transfer Update: Until late 2008, a number of no fee balance transfer credit card offers were available. Most of these offers lasted six to nine months, making them a good option for short term balance transfers. In January and February of 2011, Discover offered a no fee balance transfer card with a 0% APR for 12 months. This offer has been revived at the start of 2012 and is currently the best (and only) 0% APR no fee balance transfer card available.
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Additional Information about Balance Transfer Fees |
Discover 0% APR No Fee Balance Transfer Credit Card Promotion: For the second year in a row, Discover is running a limited time 0% APR no fee balance transfer promotion. Approved applicants get a 0% APR for 12 months and have until July to transfer balances without incurring a transfer fee. This limited time offer is slated to end on February 29th.
A good method of determining whether this no balance transfer fee card is the best option is to divide outstanding credit card balances by 12. If the result is a number that can realistically be paid on a monthly basis, then opting for this no fee card is likely the right choice. However, if making the monthly payment needed to be debt free before the 12 month introductory rate expires would be difficult, it is likely wise to pay a small 3% balance transfer fee and obtain a longer lasting 0% rate.
About No Fee Balance Transfers: Until the credit crunch began, a number of companies offered 0% interest rates on no fee balance transfers. When these offers were readily available, a consumer could save $30 or more on every $1000 transferred and get all the benefits of a 0% APR.
Unfortunately, all the major issuers ceased offering 0% no balance transfer fee deals in early 2008. In December of 2008, the last credit card that offered no fee balance transfers and a 0% APR for 6 months issued by a major credit card company was pulled from the market. Consequently, consumers have little choice but to pay balance transfer fees should they desire to take advantage of the savings provided by a 0% APR.
Fortunately, paying balance transfer fees is not nearly as bad of a deal as one might think. While a nuisance, they hardly put a dent in the substantial savings one can reap with a 0% APR for year or more. And, while credit cards that offered a 0% APR for a year and charged no balance transfer fees were unquestionably the best deal in town, no fee deals that only offered a 0% APR for 6 months actually offered consumers significantly less savings than deals that included balance transfer fees.
The key thing is not to fret about paying $50 or $100 in balance transfer fees and focus on the hundreds you could save with a 0% interest rate.
A Brief History of Balance Transfer Credit Card Fees: Three years ago, there were a handful of credit cards that offered no fee balance transfers and 0% interest rates for 1 year. Today, balance transfer fees are on the rise, with most companies charging 3-5% balance transfer fees with no maximums. Although 0% credit cards that charge no balance transfer fees are gone for now, credit card companies have recently become more generous with 0% deals. So while you may have to pay an extra 4% in fees, it’s much better than paying a 14% interest rate with your current card.
Compare 0% APR Balance Transfer Offers
*Important Disclaimer: See credit card applications for complete terms and conditions. While Smart Balance Transfers makes reasonable efforts to maintain accurate information, all credit card information is presented without warranty. When you click an “Apply” button, you can review the credit card terms and conditions on the issuing company’s web site.