0% Interest Credit Cards (No Fee Credit Cards)
Published 11/4/07 (Modified 4/8/13)
By MoneyBlueBook
Updated List Of The Best No Fee, 0% Balance Transfer Card Offers Below
Zero percent balance transfer cards are a particular selection of credit cards that I've had a lot of exposure and experience with. I've used them for everything from temporary financial emergencies to balance transfer arbitrage purposes. During times when I needed a temporary source of cash, I've applied for 12 month 0% interest credit card offers and requested balance transfer checks. For the duration of the promotional period I would have the needed money to tide me over. Of course I always paid the balance back in full after the introductory period ended.
Well, as I mentioned in an earlier post, I'm looking to get back to making some extra money by doing App-O-Rama balance transfers. The process works by submitting new card applications from a select list of balance transfer cards that offer introductory 0% APR. The transferred balance is then deposited into a high yield savings account to earn free interest for the duration of the balance transfer period. When it's over, you pull the money out, repay the credit card and pocket the interest profit. The amount of arbitrage income you can earn depends on how many credit cards you apply for, the total credit limit, the duration of the no interest promotional period, and whether there are any one time balance transfer fees. People looking to make money from balance transfers usually apply for a high number of 0% offers at one time (view complete list of balance transfer credit cards).
0% APR Offers With No Balance Transfer Fees Are The Best, But Are Getting Harder To Find
Perhaps credit card companies have finally caught on to the whole business of people taking advantage of no interest credit card offers to earn balance transfer profit, as the number of no balance transfer fee cards have dwindled. Listed below are the best 6-24 month 0% balance transfer credit card offers with no balance transfer fees (unless otherwise noted). The compilation contains a mixture of personal and business credit cards. Remember, you can apply and qualify for a business balance transfer card by listing your personal name as your company name on the business credit card application and free credit report. You can properly do so without actually owning a separate small business.
No and Low Balance Transfer Fee, Low APR and 0% Intro APR Balance Transfer Card Offers
- Simmons First Visa Platinum Rewards - No balance transfer fee, low variable APR balance transfer deal
- Simmons First Visa Platinum Card - No balance transfer fee, low variable APR balance transfer
- IberiaBank Visa Platinum - 1.99% introductory APR on balance transfers for 6 months, 2% transfer fee.
- IberiaBank Visa Gold - 1.99% introductory APR on balance transfers for 6 months, 2% transfer fee.
- IberiaBank Visa Classic Card - 1.99% introductory APR on balance transfers for 6 months, 2% transfer fee.
List Of Other Active Balance Transfer Credit Card Deals
- Slate from Chase - 0% introductory APR on balance transfers and purchases for 15 months. No balance transfer fee on transfers made within 60 days of account opening. After that balance transfers fee will be: Either $5 or 3% of the amount of each transfer, whichever is greater.
November 16, 2009 at 3:25 pm
Can you have more then once credit card, lets say with Chase?
December 5, 2009 at 12:10 am
I am looking for a card that offers 0% for 12 months on transfers as well no fees for the transfer
December 8, 2009 at 3:12 am
Capitol One - The same thing happened to me like Denisse, Krisstina and Vicki. I had Capital One Visa Signature on September for 0% purchase, come to October, when I get online (Capital One) to check for my balance I saw "TRANSFER A BALANCE WITH NO FEE FOR CUSTOMER ONLY", press transfer to see the promotion. I press transfer to see what they have for promotion. Its show approved for 0% like purchase. It's so good to be true. I call Capital One Customer Service to confirm that it is true. The lady that I talk with has told me that I got approved for 0% transfer fee and 0% interest rate until June 1st, 2010 and I need to pay off the balance, otherwise, it will be 13.9%. I accepted then she works me through the application process for the balance that I want to transfer to. When I receive the statement it totally different, it is not 0% that I had applied. I called immediately and it is almost two hour, finally I can speak with one of the representatives. She is so rude. When I told her about the statement and the promotion that I had applied for was not match, she just cut me short and says what on the statement is what I apply for then she hang up on me. I try to call back again, wait for almost two hour then I got another representative. This one is a little bit better, with her voice and attitude but she still refuse to help me solve the problem. Rude and bad attitude from them make me decide that I really don't want to deal and business with them for any longer. I'd transferred the fund to somewhere else than closed the Capitol One account. It is my first and will be my last experience for Capitol One.
December 20, 2009 at 3:23 pm
I have been searching for the best deal over the past 2 days. My research has lead me to the SMALLER banks in my local area. BB&T still has 0% (6months) and NO transfer fee* (as long as you move those transfers within a couple months of the account opening) even still they have a cap on the fee if you happen to make transfers past the 3rd month.
So many banks have been eaten up by the sharks in the industry, but there are a few golden nuggets out there. "Eff" citibank, & CapONE, etc... they can afford to offer better plans from time to time, they are just too greedy. You would think, if nothing else, around the christmas holiday.
December 20, 2009 at 3:25 pm
also, Wachovia (Wells Fargo Co) has 0% (6-month) transfers at $75 fee maximum.
(still somewhat respectable for a Big Bank)
December 22, 2009 at 4:39 pm
Core, that's probably an offer you got; they don't seem to set a maximum for the public (at their website).
January 17, 2010 at 4:07 pm
Just a heads up-
This week (Jan 15, 2010) I received an offer for a Commerce Bank Rewards VISA card that came with a 12-month 0% APR on balance transfers with NO TRANSACTION FEE. (After 12 months, 11.99% variable APR. For purchases: 1.99% intro then 11.99% variable.)
Really nice! Wasn't expecting an offer of this quality given the regulatory landscape.
January 23, 2010 at 12:03 pm
Dam, just called Commerce Bank Rewards VISA at 800 617 7480. they only offer 6mos at 0% interest with 3% trf fee.
i'm looking for a 12mos deal, with no fee or at least a max fee limit, Mr Money Blue Book???
May 21, 2010 at 12:16 am
Definitely read all the small print on the applications - Chase freedom had some interesting things added on there that you had to read a couple of times to understand.
May 23, 2010 at 11:09 pm
Is this a good offer or not? It is with Discover. I would be transfering 3500 that is currently at more than 25% currently. It looks like I need to make some purchases on this card to keep the 2.99 or O. I am also a bit annoyed by the 5% fee. Should I look for a better deal?
2.99% APR for 12 months after the first transaction posts to your account under this offer, then your purchase APR will apply, currently 12.99%. The purchase APR will vary with the market based on the Prime Rate.
Balance Transfer Fee 5.0% with a minimum of $10.00 and no maximum for each balance transfer.
0.0% APR
Rate valid for 6 months
Reply by 07/06/10
Offer Details
Select Offer
Promotional Balance Transfer APR 0.0% APR for 6 months after the first transaction posts to your account under this offer, then your purchase APR will apply, currently 12.99%. The purchase APR will vary with the market based on the Prime Rate.
Balance Transfer Fee 5.0% with a minimum of $10.00 and no maximum
June 25, 2010 at 2:53 pm
I have been getting the Commerce Bank offers recently as well. 12 months at 0% for both transfers and purchases, roughly 14% after that. No balance transfer fee. credit limit from $1000-$15,000.
One caveat to Commerce is that the monthly minimum payments are 3% of the balance, so you need to be able to make good sized payments to this card. I'm pretty sure there is no annual fee. I am planning to take this offer in the next month or two.
June 26, 2010 at 1:50 am
Citi has offered me 0 APR until Sept 2011 with a 3% trans fee. No annual fee. I'd keep looking, Tanya.
June 26, 2010 at 1:58 pm
Tonya, i would call around for a better offer...don't go with 5%...and go for at least 12mos, so you don't have to pay another trf fee when your 0% offer is up.
I notice that the credit card companies are starting to give good deals again, and make lots of offers....i just got a offer from USAA for no balance trf fee on a zero percent 12mos rate.
July 7, 2010 at 7:23 pm
anyone find balance transfer card with no fee? I am looking to transfer balance and it doesnt have to be 0%. I will be okay with anything below 3% but no fee.
July 20, 2010 at 9:50 pm
Discover offered a loan - not a balance transfer card - but a loan - no fee - interest rate 7.99 to 18.99 which is lower than the credit card debt - good deal or not? No penalty for early paying it off. I would pay off the high interest card and have lower monthly payments - and be paying off more principle - not just mostly interest.
July 23, 2010 at 3:47 am
I'm astounded to see how many people have experienced the same bait & switch deal from Capital One that I received. This has to be illegal. Didn't the administration recently crack down on credit card companies?
We have to do more than just post in forums; we must contact our representatives, the Federal Trade Commission, Better Business Bureau etc. All have online sites. If the feds get enough complaints, perhaps there will be an investigation into these criminal practices.
FTC's helplne: 1-877-FTC-HELP (1-877-382-4357);
August 11, 2010 at 2:08 pm
I just went through the process of signing up with Discover for a card, by clicking through a balance transfer website, and applied for the card, completed the balance transfer information requested, and was approved online quickly, with instructions to call them to verify the final information. Upon doing that, I found they had offered me a credit limit of less than half of my transfer (and I have excellent credit, and my transfer request was less than 5 digits by a longshot). When I queried if that was on top of my transfer, the rep told me that there was no transfer in my application. I then cancelled the card, but am very unhappy as the whole thing feels like a scam! I also really don't appreciate opening and immediately closing the account as it doesn't look good. Is this legal?
September 12, 2010 at 6:32 am
Hi,
What a great list. I am always on the look for top lists, and your list is great starting point. Lists are very useful.
I found your blog from bing. Really cool article.
Will visit again.
Thanks
November 23, 2010 at 11:30 am
I recommend looking at credit unions. Often their fees are much lower thant he big banks, and some have zero transfer fees. Also, they actually treat you as a person when you walk in or call, not just a number!
January 8, 2011 at 7:43 pm
I want to know if you should cancel credit cards after paying them off. I had a 0% interest on an American Express and paid it off a couple of years ago. I have not used it since then. Should I keep this account open or should I cancel this card?
Thanks for your input.