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. Meks says:

    Thanks for sharing that. I really hope the rates stay like that because it could be a good deal for a lot of people, but one thing I find hard to keep track of is how their rates can change over time. Its hard to keep track of all the numbers, even without all the small print and hidden fees cards seem to have without rates changing over time. One of the worse ones are interchange fees because we don't even know what the rates are since they're not on our statements even. I've done some work with the MPC, and it seems to me that all of this is just getting worse before its getting any better.

  2. Raymond says:

    You're right, credit policies seem to change monthly. I had to scrutinize each credit card's fine print carefully to make sure they were truly 0% for 12 month with no balance transfer fees.

    I hope Citibank doesn't succumb to the 3% fee trend but I have a bad feeling they will eventually. They've already scrapped a few of the better reward cards. Remember the Citibank Dividend Card? It went from 5% cash back to only 2% now.

  3. raymond says:

    i totally agree. i know a lot of people that could really testify that app-o-rama is the real deal.

  4. Steve says:

    I understand that if you sign up as a member at Upromise.com, there is a link to apply for the Citi Upromise Mastercard. If you apply through the Upromise site, the offer includes 0% for 12 months with no balance transfer fee.

  5. penny pincher says:

    Steve, you're right about the upromise. Here's the terms as of 6/12/08 (link)
    I wonder if the 50 cents applies even in a month no interest is due? Even so, $6.00 per year isn't bad to have an "interest free" account.

  6. Fahz says:

    As of 6/18 it looks like things have changed
    Penny's link provides this...
    Balance transfer fee: 3% of each balance transfer; $5 minimum. There is no fee with the 0.00% APR balance transfer offer described above

    I just signed in to Upromise and tried the application and the same line has changed to
    Balance transfer fee: 3% of each balance transfer; $5 minimum.

  7. Steve says:

    Fahz, you're right. Looks like the offer was revised within the last few days. Other than the cards listed above, the Chase Disney card is perhaps your next bet at 0% f/12 mos. with a max. fee of $50

  8. Kevin says:

    Nice list no fee balance transfer credit cards! I was trying to find a list like this. Too bad 0% credit cards that offer balance transfer rates for 12 months or more usually have balance transfer fees. Well, at leas they are limited to a certain amount.

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