0 Balance Transfer Credit Cards No Transfer Fee

0 balance transfer credit cards no transfer fee

Looking for a 0% balance transfer credit card that charges no transfer fee used to be as simple as doing a search on Google.  They used to be as easy as getting instant approval bad credit credit cards.  But that thing has come to pass.

Credit cards with 0 balance transfers were primarily use as incentives by banks to get you your debt to them.  The whole offering you a zero balance transfer credit cards will transfer fee was that he eventually you would end up carrying a balance on the card and the credit card company would start to make interest off of you.

There are still companies that do offer zero balance transfer credit cards but you do need to spend time looking through and comparing offers.

What you get for zero balance transfer credit cards, which you need to look at is how the interest fees are charged.  What typically happens is a 0% balance transfer is only as long as you don't make any late payments.  Usually, as soon as you get a late payment card will reset and previous interest that was not charged gets accrued.  So suddenly now have an interest payment to make on something that was not intended to be.

Do your homework when looking for a zero balance transfer credit cards.  Most people are looking for this kind of deal because they want to lower the overall interest they pay on the credit cards and your balance to the new card the hope is that your payments will be lower.  Here are more things to think about and to look out for when thinking about a zero balance transfer credit cards.

Check to see if the offer is only for a limited time.  Sometimes after six or so months a 0% interest rate on the credit card may immediately jump to interest rate that is greater than what you are paying now.

Besides a late payment which we discussed above, the 0% balance transfer may also default to an additional cash or 20% over the standard interest rate if you go over the credit limit or getter returned check.  It is not uncommon for some of these default rates to jump to 30% or more.  forget about looking for a loan with bad credit.

Sometimes you may be getting a 0% that was transfer, but you may be hit with a balance transfer fee.  Sometimes companies charge up to 3% just to move the money.

Be careful of the credit card checks.  Sometimes the checks seem attractive but if you don't check you may end up getting charged a different set of interests for using the check.

Pick the right zero balance transfer credit cards offer

In addition to the 0% balance transfer, there are lots of different kinds of credit cards.  Read the fine print or ask the credit card company the following questions:

What is the term of the 0% balance transfer offer?  How long is the balance transfer offer valid?

What is the future rate of the credit card once the balance transfer offer expires?

Is the rate different or is the reduced fee available in all of my transactions are made online instead of calling the credit card companies?

Are there minimum transfers amounts that can be worked with?

Are there other fees associated with the transfer credit card?

How are my payments applied?  Do the payments go first to the balance with the 0% and then payments go to the remaining balances with higher APR is?

Other questions to ask yourself:

How long will it take to pay off the balance?  This makes a lot of difference whether or not the 0% balance transfer makes sense

Am I willing to make the transfer online?  Most times this makes sense because the fees are the word if you do the work yourself.

Some of the companies that offer 0 balance transfer credit cards are Bank of America Visa platinum plus card who offers 0% APR on purchases and balance transfers for six billing cycles.  Discover more card also offers a zero APR on purchases and balances.  Chase platinum Visa card has a program and that also has no annual fee.  You may want to take a look at the CITI platinum select MasterCard and also consider the AT&T Universal platinum MasterCard.  Finally, American Express clear offers a zero balance transfer credit card with no annual fee.