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Low and 0% Interest Credit Cards (No and Low Balance Transfer Fee Credit Cards)

Published 11/4/07 (Modified 12/1/13)
By MoneyBlueBook

Low and 0% Interest Credit Cards (No and Low Balance Transfer Fee Credit Cards)

Zero percent and low intro APR 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% introductory APR 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.

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88 Responses to “0% and Low Interest Credit Cards | No Balance Transfer Fee Credit Cards | Money Blue Book” 

  1. Krisstina says:

    The same thing happened with me in the last 3 months and with Denisse regarding Capital One. Balance offer and transfer was all done on the internet and when I received the statement there was a finance charge.

  2. louis says:

    How do you know the banks are different on Mastercards?

    Also Discover told me I would get a 12 month 0% APR and no fee - then they changed it to 6 months. They lied to me big time.

    I want to transfer from a citibank MC(increase of 12 to 23 percent) of about 4000 to a 0% for 12 months - any ideas out there?


    I did see on a show that lots of companies are canceling the card when you do a balance transfer.

  3. Heather says:

    I just found on Wachovia's page 0% for a year @3% min $10-499 max.... has anyone used Wachovia before? here is the link... (Wachovia Wells Fargo credit card link)

  4. Heather says:

    Sorry I meant $99 max not 499 max

  5. Vicki says:

    Capitol One - the same thing happened to us that happened to Denisse and Krisstina. We applied on-line for a 12 month 0% balance transfer and when the bill came I called and Capitol One stated it was only for purchases and like Krisstina it was our word against theirs. The first rep did say he had received many calls complaining about this and I was able to get the fees reversed on the first statement and transferred the funds to another account and closed the Capitol One account. I transferred the funds to a 0% $75 fee with Chase, but I don't see this offer right now.

  6. Krisstina says:

    If anyone knows how or to who to make a complaint againse Capital One, please let me know. They made $150 in interest off of me before I discovered their switch and was able to transfer the balance and close the account. I also switched to Chase 0% and a cap of $99 on the transfer fee. Worth it never to deal with Capital One again. I didn't know about the cap on the transfer fee until I called to make the transfer.

  7. Jill says:

    As of 6/15/09, Wachovia bank is still offering a 0% balance transfer credit card for 12 months with no annual fee and a balance transfer fee of 3% per transaction (or a $10 minimum, $99 maximum) ! Go to homepage, type in 0% balance transfer credit card in search, look for Visa Platinum Rewards card. Good luck applying!

  8. Gina says:

    I had the same thing happen a few years ago with Capital One...bills were "lost" in the mail more than once so I missed a payment and lost the 0% and just happened to look closely at the bill I finally received to even notice it. Since then I've learned to look over any bills I get carefully for fine print that notes changes...I'm learning in my old age. :)

  9. Bruce says:

    Just checked both Pulaski and Iberia links; both seem to have pulled their 0% APR, no balance transfer fee offer....Iberia has 1.99% APR.....

  10. Caren says:

    I think the game is over. In the past, I was always able to pay "zero" percent and when the introductory rate was over, transfer to a new card - with a zero percent balance transfer fee. Over the last year, it became more difficult to find this and now I'm afraid, soon impossible. The best were cards that offered a balance transfer fee that maxed out at $50. Now, it seems to be closer to $100. I've made a policy of paying little to no interest on my credit card balances over the last few years but now it really seems prudent to do one's best to pay off the balances. It does seem that those that paid in a timely manner and followed the rules, are now being penalized for those who didn't....

  11. mark says:

    Iberia bank cards are now 2% balance transfer fee and NOT 0% APR anymore. (as of 8/20/09)

  12. Mary says:

    I have a slightly less than 4000 dollar balance on a citibank card that has increased the interest to about 24 per cent. I have been offered a 1.99 percent balance transfer with a small fee - for 6 months - but after that it would then be at 29.99 percent - with Discover - this card currently has a zero percent balance. I am trying to determine if this is a good deal or not. The thing that annoys me is I did have 11.99 percent interest rate on the discover card - and I wasn't using it - except for small purchases which I immediately paid off - but they raised the interest rate on that one to 29.99. My citi bank card has more than doubled the interest rate. I was making a dent in the balance - but now I am just going slightly over on the minimum payment. If the discover card was a 12 month card - I would probably go for it - since I am looking for a new job and plan to have one soon - but not sure I can get rid of the balance by Feb. I really hate citibank - but I see discover is doing the same thing - raising rates for no reason. So is it a good deal or not? I have not been late on any payments on any cards - but my income is down a bit during this recession - and I suspect that is why my interest rates have gone up. Thanks

  13. Brent says:


    My suggestion is to get away from the credit cards. I delved in them when transfer fees were low and interest rates were zero but those deals seem to have disappeared. The lowest transfer fee cap I see these days is $199. Most are 3% with no cap, so on a relatively low $4,000 balance, that's $120. I've become a fan of Dave Ramsey the financial advisor who counsels people on getting out of debt. He recommends no use of credit cards for any reason, because they trap you and cause you to spend more than you would with cash or even a debit card. His solution when you can't seem to make progress paying: get enthusiastic about eliminating the debt, even get a second job to pay off the smallest debt first. He says interest rates are not nearly as important as the psychology of successfully eliminating the debt piece by piece. Its all about discipline - to not overspend, and sacrifice - to overcome the debt burden.

  14. Manju says:

    Lessons learned: Keep the car loan, if it is payable in 72 months at whatever percentage, with monthly payments as low as $150 per month. I have spent more in fees by trying to transfer it from one credit card to another. In two and a half years the principle has reduced very little.
    I recently combined two large balances to my Citicard (the car loan and Lowe's loan). Since I have had that card for more than 10 years with an excellent standing with them, they have waived the 3% transfer fees. I mentioned to them that the same balance has been bouncing back and forth between citibank and BOA for the past four turns and I have paid fees every single time...........When I called them yesterday I noticed that the fees were not part of the balance, I hung up the phone with no comments. Keeping my fingers crossed that there will be no fees when the statement arrives. They have also dropped my int. rate from 21.99% to 12.99% after the promotion is over.
    I have talked to Citicard about a payment plan at prime for the life of the loan. They said it's possible, I have to keep checking with them as it would be a brief promotion. American Express or Discover was offering one a 4% last year but the amount of loan was very low.
    If there is a low rate out there for the life of the loan I'd like to know.

  15. ohbet says:

    can i have a favor for the store who are engage in 0% .... i bought a unit from nokia and store said 0 %.. But when the computation are finish.. the cost of unit instead of 10000.00 is going to 12500. i asking why the cost of 0% is not consider to the actual price of 10000 they said .... the regular price is not like a discounted price ... okey i got it but if it is transfer to 12 month 0 interest the cost is getting higher.. i ask again the they replied 6 month is not a 12 month the interest is getting higher when month is longer.... so i said where is the 0 interest... then i ignore.... is that your policy.. thank you

  16. Chase Chaser says:

    Check out Chase Slate Card With Blueprint as it is offering 0% balance transfers and 0% purchases for up to 12 months (3% balance transfer fee though). Limited time promotion methinks...though it might be a permanent feature of the card. Who knows...balance transfers are hard to find these days. Keep in mind -the card is NOT a no balance transfer fee zero percent offer.

  17. gj says:

    the key is does it have a cap on the 3% ie. $99 or $75 max

  18. Pam Hlad says:

    I really learned a lot by reading your information and the comments from others. Please keep me updated with future information.
    Thank You

  19. dethwsh says:

    I guess most of you know this already, but this list is 2yrs out-of-date now. It shows as follows:
    "This entry was posted on Sunday, November 4th, 2007"

    All of these credit card offers are no longer valid.

    A few of the companies are gone too (e.g. Washington Mutual). :)

    As far as I can tell, there are no 0% apr on bal transfer / $0 transaction fee on bal transfer / $0 annual fee credit cards left out there. If you want to transfer a balance now, you will pay either through the interest rate each month or through the one time transfer fee.

    For my situation, there appears to be no good option. I need $2-3K to cover a bill for a couple of months, but a balance transfer will cost $60-$90 which is more than just paying a late fee.

    If anybody knows of a 0% apr on bal transfer / $0 transaction fee on bal transfer / $0 annual fee credit cards that is still out there, please post it in these comments.


  20. Pamela says:

    The active balance transfer credit card links on this blog post are still valid. I think the author has already disabled the balance transfer links that are no longer working.

    Does anyone know if the Chase credit cards on this list offer 0% balance transfers or whether they are only 0% purchase card deals.

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