Currently, there is only one no fee balance transfer credit card on the market, and it only offers a 0% APR for 6 months.
Below you will find information on credit cards that offer no fee balance transfers. No fee balance transfers allow you to save 3% up to $75 on every balance you transfer. However, most no fee balance transfer credit cards only offer a 0% APR on balance transfers, not purchases. If you use one of these credit cards to make new purchases, you will be charged the standard interest rate. For many people, a credit card that offers a 0% APR on purchases as well as balance transfers can provide significantly more savings. However, it is possible to maximize your credit card fee and interest savings by transferring your balances to a no fee credit card that offers a 0% APR and applying for a separate credit card that offers a 0% APR on purchases for 1 year. Essentially, this can provide you with a full year without credit card interest expenses.
As of October 1, 2008, the Bank of America Pet Rewards™ Platinum Plus Visa® Credit Card is the only credit card we are aware of that is offering a 0% APR on no fee balance transfers. Unfortunately, this card only offers a 0% APR for 6 months which is fine for individuals that will repay their balances within 6 months. However, if you know you will need more than 6 months to pay your balance off, choosing a credit card that offers a 0% APR on balance transfers for 1 year is a much safer option, especially given the current tumult in financial markets. Essentially, it may not be possible to get a 0% APR 6 months from now, and those who choose to save a few dollars on balance transfer fees may end up paying an arm and a leg during the next six months when their interest rate increases.
You can learn more about the Pet Rewards™ Platinum Plus Visa® Credit Card or compare credit cards that offer a 0% APR on balance transfer for 1 year in the balance transfers section of this website. *Important Disclaimer: Due to frequent changes in credit card offers, information regarding specific credit cards on this page may have changed since initial publication. See online credit card applications for complete terms and conditions. While reasonable efforts are made to maintain accurate information, all credit card information is presented "as is" and without warranty. When you click an “Apply" button, review the credit card terms and conditions on the issuing company's website.
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