Best Credit Cards with 0% Interest and No Balance Transfer Fee
Looking for a credit card that can help you save money on interest and fees? A credit card with 0% interest and no balance transfer fee can be a great option, especially if you're looking to consolidate debt or make a large purchase.
What is a Balance Transfer Credit Card?
A balance transfer credit card allows you to transfer the outstanding balance from another credit card to a new one. This can be beneficial if you have high-interest debt, as you can often find a card with a lower interest rate.
Why Choose a 0% Interest and No Balance Transfer Fee Credit Card?
These cards offer two key advantages:
- Zero Interest: For a set period, you won't have to pay any interest on the transferred balance. This gives you time to pay down the debt without accruing additional charges.
- No Balance Transfer Fee: Some cards charge a fee to transfer your balance, which can cut into your savings. Choosing a card with no transfer fee maximizes your benefits.
Key Factors to Consider
When choosing a 0% interest and no balance transfer fee credit card, consider these factors:
- Introductory Period: How long does the 0% interest rate last?
- APR After Introductory Period: What is the interest rate after the introductory period ends?
- Annual Fee: Does the card have an annual fee?
- Other Benefits: Does the card offer rewards, travel perks, or other benefits?
Popular Options
Here are some popular credit cards that offer 0% interest and no balance transfer fee:
- Citi Simplicity® Card: This card offers a 0% intro APR on balance transfers for 21 months. It also has no annual fee and offers a simple rewards program.
- Chase Slate: This card offers a 0% intro APR on balance transfers for 15 months. There is no annual fee, and you can earn 2% cash back on dining at restaurants and takeout.
- Discover it® Balance Transfer: This card offers a 0% intro APR on balance transfers for 18 months. It also offers a 1% cash back reward program and no annual fee.
- Blue Cash Preferred® Card from American Express: This card offers a 0% intro APR on balance transfers for 18 months. It also offers a generous rewards program with up to 6% cash back on eligible purchases.
Important Considerations
- Pay on Time: Make your monthly payments on time to avoid accruing interest charges.
- Read the Fine Print: Carefully review the terms and conditions of the credit card agreement to understand the details of the introductory period, APR, and any other fees.
- Don't Overspend: Use the balance transfer card to consolidate existing debt, but don't use it for new spending.
Conclusion
A 0% interest and no balance transfer fee credit card can be a valuable tool for managing debt. By understanding the factors to consider and choosing the right card, you can save money on interest and fees and get your finances back on track.
