3 credit cards with no balance transfer fees and low interest rates

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3 credit cards with no balance transfer fees and low interest rates
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Is credit card debt becoming overwhelming in your life? A credit card with the right balance transfer offer can help you get out from underneath that mountain.

It’s easy to find credit cards that will let you transfer a balance at 0% APR for a certain number of months . . . but you’ll typically pay a balance transfer fee of at least 3%.

If you want to be really cheap, here are three credit card offers that don’t have any balance transfer fee. That means you won’t pay a penny to transfer your debt over from a higher interest rate to a lower interest rate card. You might even get a 0% interest rate for some number of months as an introductory offer!

As mentioned, the average balance transfer fee is usually around 3% but it can sometimes be as high as 5%. So by eliminating the balance transfer fee, you can save $300 right off the bat (on a hypothetical balance transfer of $10,000) and enjoy a low or zero percent interest rate all year long.

Of course, each card still requires you to make a minimum payment every month.

Depending on your exact situation, you’ll have to read carefully to see which one is right for you.

Here are three credit cards with no balance transfer fees

1. Slate from Chase

  • Zero dollar balance transfer fee on transfers made within 60 days of account opening. After that, the fee will be the greater of either $5 or 3% of the amount of each transfer.
  • 0% Intro APR for the first 15 billing cycles that your account is open. After that, a variable APR of 13.24%, 18.24% or 23.24% applies based on credit.
  • Zero dollar annual membership fee

2. Pen Fed Promise Visa Card

  • Zero dollar balance transfer fee
  • 4.99% APR promotional balance transfer rate on transfers made October 1, 2016 – December 31, 2016. After that, the fee for any new balance transfers and the unpaid balance will be between 10.24% to 17.99% and will vary with the market based on the Prime Rate and your credit.
  • Zero dollar annual membership fee

 SPECIAL NOTE: To apply for this card, you have to be a member of Pen Fed Credit Union. But don’t worry if you’re not military. Simply join the National Military Family Association for a one-time tax-deductible fee of $20 and then you can apply. You don’t even have to keep your membership active. 

3. Bank Fund Staff Federal Credit Union

This credit union, which is open to members who already work in select financial institutions, offers a suite of four cards with no balance transfer fees. They include the Visa Platinum, Platinum Member Rewards, Platinum Cash Rewards and Visa Signature cards.

  • Zero dollar balance transfer fee
  • 0% Intro APR for the first 6 billing cycles on the Visa Signature card. The three other cards range from 3.9% to 5.9% for the first six months. After that, the interest rate varies from 12.15% to 16.15% based on the Prime Rate.
  • Zero dollar annual membership fee on the Visa Platinum and Visa Signature cards. The Platinum Member Rewards and Platinum Cash Rewards have $19 and $39 annual fees, respectively.

Read more: How the $20 rule can help break your credit card addiction

Credit cards: Are the points you’re earning worth the annual fee?

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Theo Thimou About the author: Theo Thimou
Theo is director of content for clark.com. He has co-written 2 books with Clark Howard, including the #1 New York Times bestseller Clark Howard's Living Large in Lean Times.
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