Transferring high-interest credit card balances to low and no interest balance transfer credit cards is an excellent credit card payment strategy that not only helps you save on interest but also helps pay off your credit card debts faster.
If you’re looking at your options and are considering transferring your high-interest credit card balances, below are 10 best no-interest balance transfer credit cars in the USA.
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1. Chase Slate Credit Card
The Chase Slate Credit Card allows you to transfer your balance with 0% for 15 months for both balance transfers and purchases.
You’ll have to transfer your balance within the next 60 days after account opening to avail of the no-fee transfer and their 0% APR. After that window closes, you’ll either pay $5 for each transfer or 5% of the balance you’re transferring, whichever is higher.
Another plus of moving your high-interest credit card balances into a Chase Slate Credit Card is that there’s no annual fee with this credit card account.
Chase also offers you free unlimited access to your credit score with this credit card.
2. Capital One Quicksilver Cash Rewards Credit Card
Capital One Quicksilver Cash Rewards Credit Card is another fee-friendly credit card that you can transfer your high-interest card balances.
At 0% APR for 15 months and $0 annual fee, this card is worth considering transferring your balances into. After 15 months, their regular APR is between 15.49% – 25.49%
Should you use this credit card as a spending account, and you’ve put in $500 within the next three months from when you open your account, you will receive a one-time bonus of $150.
In addition, this credit card also allows you to earn 1.5% cash back for every purchase you put through the card. The cash-back is very straight-forward, doesn’t have a limit and it doesn’t expire.
With an added benefit of $0 foreign transaction fees if that’s part of your day to day banking.
3. Citi Simplicity Card
City Simplicity Card offers 0% introductory APR for up to 21 months for balance transfers and up to 12 months for purchases with zero annual fees.
Foreign transactions will cost 3% per transaction and their regular APR rate is between 15.74% and 25.74%, depending on your creditworthiness.
There is a cash advance fee is either 5% or $10, whichever is higher.
And while you can still do balance transfers after the introductory period, keep in mind that it will cost you either 5% or $5 (whichever is higher) of the balance being transferred.
4. Amex EveryDay Credit Card
Amex EveryDay Credit Card offers $0 balance transfer fee, 0% introductory APR on purchases and balance transfers for up to 15 months, then a variable APR of between 14.49% and 25.49%
To top it off, this credit card offers loyalty points when you use this card on purchases more than 20 times within the same billing period (do make it a point that you’re able to pay it off on time). Also, you will double your points when you spend up to $6,000 at U.S. supermarkets in a year.
As an Amex credit card, which is known to shower their customers with points. You will also earn 10,000 points after spending $1,000 in eligible purchases on the card within the first 3 months of membership.
5. Discover it Chrome
Discover it Chrome lets you transfer your balance for a 3% balance transfer fee with an introductory APR of $0 for 14 months and just like the balance transfer credit cards previously mentioned, Discover it Chrome does not have an annual fee.
In addition, you also receive 2% cashback when you use this card at restaurants and gas stations, and 1% cashback on any other transactions.
This card also offers free credit score check, no foreign transaction fees, and no annual fees.
6. Citi Double Cash Card
Citi Double Cash Card is yet another no-interest balance transfer credit card that offers %0 introductory APR on balance transfers for 18 months; after that, the variable APR will be 13.99% – 23.99% based on your creditworthiness.
As usual, this card has no annual fee and as the name implies, you will earn double cash-back reward compared to most cash-back credit cards which are at 2% for every purchase wherever you use your card.
Note, however, that you have to pay the minimum amount due on time to earn the cashback.
In order to avail of the 0% interest balance transfer, you must transfer your high-interest balance within 4 months of opening your account.
After 18 months, any balance transfer will cost either 3% of the amount being transferred or $5, whichever is higher.
7. Chase Freedom Credit Card
This, no interest balance transfer credit card offers an introductory bonus of $200 when you spend $500 on the first 3-months of account opening.
You can take advantage of this welcome bonus so you can make $200 of the first $500 that you’re going to spend, after that, you can take advantage of their no-interest balance transfer offer for 15 months, 16.49% – 25.24% thereafter.
In addition, you will earn 5% cash back for up to $1,500 worth of purchases in bonus categories each quarter and 1% on non-bonus categories and like many of the no-interest balance transfer credit cards featured herein, there are no annual fees for this Chase card.
8. HSBC Gold Mastercard Credit Card
Another no interest balance transfer credit card that you can take a look at when transferring a credit card balance to save on interest for pay off your debt faster is the HSBC Gold Mastercard Credit Card.
This card offers 0% and $0 fee on balance transfers for 18 months. After the 18 months introductory period, you will be charged either $10 or 4% of the balance transfer whenever you’re transferring credit card balances into this card.
The regular APR for this credit card is between $14.49% to 24.49% depending on your credit score.
9. Blue Cash Everyday Card
The Blue Cash Everyday Card offers you a $150 introductory bonus when you spend $1000 in the first three months of account opening.
As a balance transfer card, you’re looking at 0% APR for 15 months for both purchases and balance transfers.
Should you use this as your spending account, $6,000.00 worth of U.S. supermarket spending earns you 3% cash back in a year, 2% cashback on US department stores, and gas stations. Aditionally, you’ll earn 1% cashback on any other purchases.
Variable-rate applies after the introductory period, which is between 13.99% to 24.99%.
There’s also no annual fee for this card, just like it’s counterparts already featured in this article.
The balance transfer fee is either 3% or $5, whichever is higher.
Keep in mind that you should avoid late payments as it will bump up your APR to 29.99% as a penalty.
Any balance transfers occurring after the introductory period costs you either 3% or $5.
10. Wells Fargo Platinum Card
The Wells Fargo Platinum Visa credit card offers an 18-month introductory period for balance transfer which is one of the longest introductory periods in the no-fee balance transfer credit card market.
An 18-month no-interest balance transfer is more than enough time for most people to settle their high-interest credit card balances.
Aside from the long no-interest grace period, this credit card doesn’t have any annual fees.
Additionally, the following benefits are available to you when you apply and use this credit card:
- Auto rental collision damage waiver
- Roadside dispatch
- Travel accident insurance
- Travel and emergency assistance services
- Cellphone protection (insures your phone up to $600 against theft and damages when you use this credit card to pay your phone bill.)
- Access to FICO credit score
- Zero Liability Protection
- Complementary My Money Map, which is a budgeting and money management tool you can use to manage your finances.
After the introductory period, you’ll pay a balance transfer fee of 5%. Regular APR comes to about 16.49% – 25.99%. There’s no penalty APR and foreign transactions will cost 3% per transaction.
A Word of Caution
These credit cards offer no-interest balance transfers for a certain time, do keep in mind however that they all have their own regular APR which are drastically higher than what attracted you to look at these options, which is %0 APR.
If you are looking to manage your credit card debts by transferring whatever credit card debts you may have by transferring to any of these no-interest balance credit card offers, I would suggest that you focus on paying as much as you can during the no-interest period and should you use these credit card(s) for consumer spending, please be cautious as all credit cards are like double-edged swords.
Though these no-interest balance transfer cards can help you save interest or even pay your credit card debts, they may also put you in a deeper hole if not used responsibly.