Over the years, the average house credit debt has been rising steadily in the US, reaching $5,700 in late 2018 and $6,028 in 2019. With the average credit debt expected to increase in the coming year, there is a need to adopt mechanisms that can help reduce the costs associated with credit card debts. The balance transfer cards come with amazing features such as 0-percent APR and 0 balance transfer fee for credit cards.
When you consider the fact that most credit cards offer APR rates of above 17-percent, you will realize that a considerable amount of what you pay for is the accrued interest. The best 0 balance transfer fee credit cards can help you get rid of the costs, which ensures that your payments go to clear the initial debt and not the interest.
To maximize your savings with the balance credit cards, you should choose the card with the most prolonged transfer period. The balance cards offer 0-percent APR for anywhere from nine months to upward of 24 months. After the limited time offer, the rate will reset to the card’s standard APR. You should take advantage of the limited offer to clear your debt to avoid incurring additional interest rates.
Furthermore, with most balance cards charging a transfer fee of between 3 and 5 percent, you can save more by choosing a card that does not have a transfer fee. With proper planning and dedication, a balance transfer card can help you get out of debt more quickly. The card can also offer greater value by helping you earn reward points that you can redeem during your travels and shopping.
Top 10 Best 0 Balance Transfer Fee Credit Cards
1. Chase Slate 0 Balance Transfer Fee Credit Card
The card is a good selection for individuals interested in paying off their debt. It does not have balance transfer fees as long as you complete your transfer within two months from the moment you open the account. In addition to the attractive 0 APR, the card also doesn’t charge annual fees, which make it perfect if you are looking to maximize the benefits. However, the 0 APR rate only applies for the first 15 months, after which the card resets to a standard variable rate of between 16 and 25 percent.
Features
- 0 APR
- $0 transfer fee
- A 3-percent foreign transaction fee
- Does not have an annual fee
- Offers considerable longer 0-percent APR
- It has foreign transaction
- It has no bonus
- It has no rewards
2. Amex Everyday 0 Balance Transfer Fee Credit Card
If you are looking for more than just paying off your debt, the Amex Everyday Card is an eye-catching option with amazing benefits. The card goes beyond the 0-percent APR and zero balance transfer to offering special financing and rewards benefits. The APR applies for a prolonged period of 15 months, and the zero balance transfer fee applies to amounts transferred within two months from the day you open the account. The card further rewards you 2 points when you shop in a US supermarket and 1 point on other purchases. With this card, you can qualify for 20-percent extra points if you make 20 or more purchases in a billing cycle. You can also be eligible for 10,000 points if you use at least $1000 in your purchases within 90 days. Other benefits include free two-day shipping, cell phone protection, and car rental loss and damage insurance.
Features
- $0 annual fee
- A 2.7-percent overseas transaction fee
- 0-percent Intro rate
- 10,000 welcome bonus points
- $0 balance transfer fee
- No yearly fee
- Zero balance transfer fee
- Rare attractive welcome bonus
- 20-percent extra reward on 20 purchases
- It has a foreign transaction fee
- Zero balance benefit limited to 60 days
3. Wings Visa Platinum Card with 0 Balance Transfer Fee
Searching for a card to cost-effectively use while overseas? the Wings Visa Platinum card stands out among other 0 balance transfer fee credit cards thanks to its fewer fees than its competitors. The credit card does not have a transfer fee and a yearly fee or a foreign transaction fee. The 0-percent APR is limited to the first 12 months on purchases and balance transfers. But you will need to become a member of the Wings Financial Credit Union to open an account. It’s important to mention that, Wings Visa Platinum card is the longest 0 balance transfer credit card that does not have a deadline of when you should make a transfer to benefit from 0 balance transfer.
Features
- 12 months 0-percent APR
- 0 foreign transaction fees
- $0 balance transfer fee
- $0 annual fee
- It is affordable with low standard variable APR
- It does not have a deadline of when you should transfer balances
- It does not charge annual fees
- Purchases outside the US do not attract transaction fees
- You must be a union member to open an account
- It has no rewards
- It does not have a welcome bonus
4. Bank of America 0 Balance Transfer Fee Credit Card for students
Students have limited options when it comes to credit cards. It is difficult for a student to find a card that offers 0 balance transfer, but the Bank of America is a rare solution for students in debt. The card has an introductory $0 balance transfer fee and a 0-percent variable rate for the first 15 billing activities. After the first 15 billing cycles, the card’s APR resets to 14.49 to 24.49 percent. The credit card does not have a penalty APR.
Features
- $0 annual fee
- A 3-percent foreign transaction fee
- $0 balance transfer fee
- 0-percent introduction APR
- It does not attract a yearly fee
- It offers students an opportunity to manage debt more effectively
- It does not support rewards
- It attracts a foreign transaction fee
5. Navy Federal Platinum 0 Balance Transfer Fee Credit Card
The platinum card by Navy Federal Credit Union is the right choice if you are looking for one of the best 0 balance transfer fee credit cards for long-term use. The card has one of the lowest ongoing APR rates of between 7 and 18 percent.
Features
- $0 balance transfer fee
- 0-percent introductory offer
- 49 to 18 percent APR
- It is highly affordable to keep around with low APR
- The introductory APR offer has an expiry date
6. PenFed Promise Visa Card 0 Balance Transfer Fee
The Promise Card is a unique kind of no balance transfer fee credit cards that bring extra benefits for qualified individuals. The card is attractive to creditworthy individuals who can qualify for a low 4.99 percent promotional APR rate. The promotional offer is applicable for transfers done within 12 months. The card has an ongoing percentage of between 12 and 18 standard APR. The PenFed Promise card does not attract annual or balance transfer fees. New cardholders can qualify for a signup bonus of $100 after spending $1500 within three months.
Features
- $0 annual fee
- 0 balance transfer fees
- $100 signup bonus
- The card comes with a rare welcome bonus in balance cards
- Offers low promotional rate for creditworthy individuals
- It does not attract annual or balance transfer fees
- It does not have an introductory 0-percent APR
- You must be a member to apply
- It does not offer reward points
7. SunTrust Prime Rewards 0 Balance Transfer Fee Credit Card
If you have a high credit rating, you will find the longer promotional rate an attractive offer. The SunTrust Prime Rewards card offers a promotional 4.75 percent introductory rate for 36 months. However, you should complete the transfers within 60 days to qualify. The transfers you make within the 60 days will not attract a transfer fee. The card has an ongoing rate of between 12.74 to 22.74 percent APR, but it does not attract annual fees.
Features
- 0 balance transfer fee
- $100 welcome bonus
- $0 annual fee
8. Edward Jones World MasterCard 0 Balance Transfer Fee
The MasterCard by Edward Jones offers you greater rewards than most no balance transfer fee credit cards. The card has a loyalty rewards program that can be redeemed for cash back, charitable donations, travel, or even deposits into an Edward Jones account. The card offers 0 percent introductory APR and no balance transfer fee within the first two months.
Features
- 1X reward
- $0 annual fee
- 0-percent intro APR
- Only one of the few options that offer rewards
- It does not attract annual fees
- The card is available to Edward Jones customers
9. Alliant 0 Balance Transfer Fee Credit Card
If you aim to have a card that will let you transfer balances as you wish without charging you a fee, the Alliant Credit Card is your go to option. You can move your balances at no cost as long as you are a card member. You also get a welcoming low APR.
Features
- 0 transfer fee on balances
- Introductory APR of 0-percent
- 74 to 21.74 percent ongoing APR
- The card does not charge balance transfer fee ever
- It offers flexibility as you are not limited
- It does not have a reward system
10. Cash Rewards Credit Card 0 Balance Transfer Fee
The Cashrewards and the Alliant Credit Cards are the only 0 balance transfer fee credit cards on this list that totally waives the transfer fee. The Cashrewards card comes with an attractive low introductory APR of 2.99-percent for one year. The card also offers an eye-catching 1.5-percent cash back rate, which is one of the best rates available.
Features
- 0 balance transfer fees, ever
- 5-percent cash back
- 99-percent introductory APR
- The card does not have a balance transfer fee ever
- It offers attractive money back on all purchases
- It does not have an intro 0-percent APR period
Reasons Why You Should Transfer Your Balances To a New 0 Balance Transfer Credit Card
1. To benefit from the lower interest
If you are paying a high-interest rate on your balances, you should start looking for a new 0 balance transfer fee card. Most credit cards have an ongoing APR rate of over 18-percent, which can significantly increase your debt. On the other hand, most credit cards have an introductory 0-percent rate for a period of up to 24 months. A credit card offering 0 balance transfer for 24 months can significantly reduce the cost of your debt, enabling you to pay it much quicker.
2. To manage your payments better
if you are paying higher monthly amounts to clear the debt, you can reduce your financial pressure by moving your balances to a new card. Moving your balances to a new credit card offers you a chance to lower your payment amount as the latest amount will be calculated based on the actual balance you move.
3. To benefit from additional features
Different 0 balance transfer fee credit cards offer unique features that make them more competitive. Some credit cards have no balance transfer fee, while others offer attractive rewards. If you find a card that provides more excellent value than your current provider, you should transfer your balances to enjoy the benefits.
The Bottom Line
Before you apply for a zero balance transfer fee credit card, you should make sure that you understand the cost implications to your debt. You should make sure that the benefits are worth the balance transfer. For example, you should avoid transferring your balance to a card that offers attractive rewards if your main agenda is to pay off the debt as the reward option might attempt you to spend more. You also determine the factor in other costs like the ongoing APR and foreign transaction fees before making your decision to ensure that the card meets your lifestyle and personal needs.
Nevertheless, if you find that you need to transfer your balances, the above credit cards are the best 0 balance transfer choices in the market. They are great if you are looking to minimize your costs to the bare minimum. Some also offer exceptional rewards that you can take advantage of during your shopping.