Best Cedit Cards with 0 APR Balance Transfer Fees

Introduction

If you have a high-interest credit card balance, a balance transfer credit card can help you save money on interest. Balance transfer credit cards offer a 0% APR on balance transfers for a certain period of time, which means you won’t have to pay interest on your transferred balance for that period. This can save you hundreds or even thousands of dollars in interest.

credit cards with 0 APR Balance Transfer Fees

Benefits of 0 Balance Transfer Fees Credit Cards

There are many benefits to using a 0 balance transfer fees credit card. Some of the benefits include:

  • No balance transfer fees: Most 0 balance transfer fees credit cards don’t charge a balance transfer fee, which can save you hundreds of dollars.
  • 0% APR on balance transfers: With a 0% APR on balance transfers, you won’t have to pay interest on your transferred balance for a certain period of time. This can save you a lot of money on interest.
  • No annual fee: Many 0 balance transfer fees credit cards don’t charge an annual fee, which can save you money in the long run.
  • Other features: Some 0 balance transfer fees credit cards also offer other features, such as cash back rewards or travel rewards.

How to Choose the Right 0 Balance Transfer Fees Credit Card

When choosing a 0 balance transfer fees credit card, there are a few factors to consider:

  • The length of the 0% APR period: Most 0 balance transfer fees credit cards offer a 0% APR on balance transfers for 12 or 18 months. However, some cards offer longer periods, such as 24 or 36 months.
  • The balance transfer fee: Some 0 balance transfer fees credit cards don’t charge a balance transfer fee, while others do. If you’re planning to transfer a large balance, you’ll want to choose a card that doesn’t charge a balance transfer fee.
  • The annual fee: Many 0 balance transfer fees credit cards don’t charge an annual fee. However, some cards do. If you’re not planning to use the card for anything other than balance transfers, you may want to choose a card without an annual fee.
  • Other features: Some 0 balance transfer fees credit cards also offer other features, such as cash back rewards or travel rewards. If you’re looking for a card with other features, be sure to compare the different cards before you choose one.

Negatives of 0 Balance APR Transfer Fees Credit Cards:

Negatives of 0 Balance APR Transfer Fees Credit Cards

While there are many benefits to using a 0 balance transfer fees credit card, there are also some negatives to consider. Some of the negatives include:

  • High interest rate after the promotional period: After the introductory 0% APR period ends, the interest rate on your balance transfer will typically be very high. This means that you’ll need to pay off your balance before the promotional period ends.
  • Late payment fees: If you miss a payment on your 0 balance transfer fees credit card, you may be charged a late payment fee. Late payment fees can be expensive, so be sure to make your payments on time.
  • Overspending: It can be easy to overspend when you have a 0% APR balance transfer credit card. If you’re not careful, you could end up carrying a balance on your card for longer than you intended.

Conclusion

If you have a high-interest credit card balance, a 0 balance transfer fees credit card can help you save money on interest. However, there are some negatives to consider, such as the high-interest rate after the promotional period and the potential for overspending. Be sure to weigh the pros and cons before you choose a 0 balance transfer fees credit card.

Here is a table comparing some of the best 0 balance transfer fees credit cards:

Card 0% APR on Balance Transfers Balance Transfer Fee Annual Fee Other Features
Chase Slate 15 months 3% $0 None
Citi Simplicity® Card 21 months $5 or 3%, whichever is greater $0 None
Discover it® Balance Transfer Card 18 months 3% $0 Cash back rewards
Bank of America® Cash Rewards Credit Card 15 months 3% $0 Cash back rewards

How To Apply For 0 balance transfer fees credit cards?

Here are the Guided steps on how to apply for a 0 balance transfer fees credit card:

  1. Gather your documents. You will need to provide your name, address, Social Security number, income, and employment information when you apply for a credit card. You may also need to provide a copy of your driver’s license or other government-issued identification.
  2. Shop around for the best offer. There are many different 0 balance transfer fees credit cards available, so it’s important to compare the different offers before you apply. Be sure to compare the length of the 0% APR period, the balance transfer fee, the annual fee, and any other features that are important to you.
  3. Apply online or in person. You can apply for a credit card online or in person at a bank or credit union. When you apply online, you will need to provide your personal information and answer a few questions about your credit history.
  4. Receive a decision. Once you have applied for a credit card, you will receive a decision within a few days. If you are approved, you will receive your credit card in the mail within a few weeks.

Here are tips for increasing your chances of getting approved for a 0 balance transfer fees credit card:

  • Have a good credit score. Your credit score is the most important factor that lenders use to determine whether to approve you for a credit card. A good credit score is typically in the 700s or higher.
  • Have a low debt-to-income ratio. Your debt-to-income ratio is the amount of debt you have compared to your income. A low debt-to-income ratio shows lenders that you are able to manage your debt and make your payments on time.
  • Have a history of making on-time payments. Lenders want to see that you have a history of making your payments on time. If you have a history of late payments or defaults, it will be more difficult to get approved for a credit card.
  • Apply for a card with a low credit limit. If you are approved for a credit card with a high credit limit, it can be tempting to overspend. If you are not careful, you could end up carrying a balance on your card for longer than you intended.

If you have a high-interest credit card balance, a 0 balance transfer fees credit card can help you save money on interest. However, there are some negatives to consider, such as the high-interest rate after the promotional period and the potential for overspending. Be sure to weigh the pros and cons before you choose a 0 balance transfer fees credit card.

There are a few things you can do to avoid credit card penalties:

  • Make your payments on time. This is the most important thing you can do to avoid credit card penalties. If you make a late payment, you will likely be charged a late payment fee. Late payment fees can be expensive, and they can also hurt your credit score.
  • Pay your bill in full each month. If you carry a balance on your credit card, you will be charged interest. The interest rate on credit cards can be high, so it’s important to pay off your balance as quickly as possible.
  • Keep your credit utilization low. Your credit utilization ratio is the amount of debt you have compared to your credit limit. A high credit utilization ratio can hurt your credit score. To keep your credit utilization low, try to keep your balance below 30% of your credit limit.
  • Be aware of the terms and conditions of your credit card. Read the terms and conditions carefully before you apply for a credit card. This will help you understand the fees and penalties that may apply.

Here are some additional tips for avoiding credit card penalties:

  • Set up automatic payments. Automatic payments can help you make your payments on time, which will help you avoid late payment fees.
  • Get a credit card with no annual fee. Credit cards with no annual fee can save you money in the long run.
  • Consider a secured credit card. A secured credit card is a good option if you have bad credit or no credit. With a secured credit card, you will put down a deposit, which will be used to secure your credit line.
  • Get help from a credit counselor. If you are struggling to manage your credit card debt, a credit counselor can help you develop a plan to pay it off.There are a few things you can do to avoid credit card penalties:
    • Make your payments on time. This is the most important thing you can do to avoid credit card penalties. If you make a late payment, you will likely be charged a late payment fee. Late payment fees can be expensive, and they can also hurt your credit score.
    • Pay your bill in full each month. If you carry a balance on your credit card, you will be charged interest. The interest rate on credit cards can be high, so it’s important to pay off your balance as quickly as possible.
    • Keep your credit utilization low. Your credit utilization ratio is the amount of debt you have compared to your credit limit. A high credit utilization ratio can hurt your credit score. To keep your credit utilization low, try to keep your balance below 30% of your credit limit.
    • Be aware of the terms and conditions of your credit card. Read the terms and conditions carefully before you apply for a credit card. This will help you understand the fees and penalties that may apply.

    Here are some additional tips for avoiding credit card penalties:

    • Set up automatic payments. Automatic payments can help you make your payments on time, which will help you avoid late payment fees.
    • Get a credit card with no annual fee. Credit cards with no annual fee can save you money in the long run.
    • Consider a secured credit card. A secured credit card is a good option if you have bad credit or no credit. With a secured credit card, you will put down a deposit, which will be used to secure your credit line.
    • Get help from a credit counselor. If you are struggling to manage your credit card debt, a credit counselor can help you develop a plan to pay it off.

      Hidden Truth About Saving Money with Your Current Credit Card?

      There are a few hidden truths about saving money with your current credit card.

      • Your credit card may have a hidden annual fee. Many credit cards have an annual fee that is not advertised on the front of the card. This fee can range from $25 to $100 or more. If you don’t use your credit card very often, or if you have a high credit utilization ratio, you may be better off with a card that doesn’t have an annual fee.
      • Your credit card may have foreign transaction fees. If you travel internationally, you may be charged a foreign transaction fee when you use your credit card. This fee can range from 1% to 3% of the purchase amount. If you travel internationally frequently, you may be better off with a card that doesn’t have foreign transaction fees.
      • Your credit card may have a grace period. The grace period is the time period after your billing cycle ends during which you can pay your bill without being charged interest. The grace period is typically 21 days, but it can vary from card to card. If you don’t pay your bill in full by the end of the grace period, you will be charged interest on your balance.
      • Your credit card may have a balance transfer fee. If you transfer a balance from another credit card to your current card, you may be charged a balance transfer fee. This fee can range from 3% to 5% of the amount you transfer. If you are considering transferring a balance, be sure to factor in the balance transfer fee when you compare different cards.
      • Your credit card may have a cash advance fee. If you use your credit card to withdraw cash, you may be charged a cash advance fee. This fee can range from 3% to 5% of the amount you withdraw. If you need to withdraw cash, it is usually better to use a bank ATM or a debit card.

      By understanding these hidden truths, you can make sure that you are not paying more for your credit card than you need to.

      Here are some additional tips for saving money with your credit card:

      • Make your payments on time. This is the most important thing you can do to save money with your credit card. If you make a late payment, you will likely be charged a late payment fee. Late payment fees can be expensive, and they can also hurt your credit score.
      • Pay your bill in full each month. If you carry a balance on your credit card, you will be charged interest. The interest rate on credit cards can be high, so it’s important to pay off your balance as quickly as possible.
      • Keep your credit utilization low. Your credit utilization ratio is the amount of debt you have compared to your credit limit. A high credit utilization ratio can hurt your credit score. To keep your credit utilization low, try to keep your balance below 30% of your credit limit.
      • Consider a credit card with rewards. There are many credit cards that offer rewards, such as cash back or travel points. If you use your credit card responsibly, you can earn rewards that can save you money on everyday purchases.
      • Get help from a credit counselor. If you are struggling to manage your credit card debt, a credit counselor can help you develop a plan to pay it off.