Transfer fees required to almost all credit cards would probably make you feel burdened to pay. Nonetheless, there are numerous credit card offer with no balance transfer fees that you might be looking for. This type of credit card requires 0% APR for the cost of any transfer tap.
For the same reason, a credit card with no balance transfer fee would help you minimize your expenses. You can save way more balance on your credit card. However, you need to point out some points for choosing a credit card with no transfer fees requirement.
Credit Card Offer with No Balance Transfer Fees Overview
There is some relief for you who feel burdened to pay the transfer fees for every credit card transaction. The amount of credit card transfer fees varies based on which company it is.
Generally, credit card offer with no balance transfer fees cost 0% introductory APR. This nominal is used for the first six months up to a year of credit card use. You must pay the fee for months until the interest-free promotion ends.
Credit card issuers do not apply for transfer fees which generally cost 3% to 5% in every transfer transaction. Additionally, the amount of the balance transfer fee is used if you spent at least $5 up to $10.
For instance, if you transfer $10,000 to the card with a 3% transfer fee, you would just send the fixed nominal of $9,700. The numbers were reduced since a 3% transfer fee was deducted during the transaction and immediately on the card.
Additionally, you should acknowledge the transfer fee that is probably required to fit the numbers for the balance transfer. If your balance does not enough to cover the transfer amount and its fee, it wouldn’t make any progress.
Credit Card Offer with No Balance Transfer Fees
Generally, every credit card’s APR (Annual Percentage Rate) increases up to 20% per transaction. Consequently, the balance you should pay monthly would be added to the interest rate instead. This amount probably deducted your debt to a short, costly rate of interest charge.
A credit card offer with no balance transfer fees would be a good deal for some credit card holders. Here are several cards you would reconsider using since they offer no balance transfer fees.
1. Navy Federal Platinum Credit Card
This first credit card offers no balance transfer fees option that is probably suitable for your balance. It is Navy Federal Credit Union Platinum Credit Card. Navy Platinum Card is well-known, a the triple-zero features its fees. There is a $0 annual fee, 0% APR intro, and $0 required for a balance transfer fee.
Nevertheless, the triple-zero features period would not stay for any longer period. For the same reason, you couldn’t earn any rewards for your credit card, and you must apply for membership to the Navy Federal Credit Union.
At this point, you should be able to pay off the credit card balance transfer fee before the intro APR requirement officially ends. Therefore, being a Navy Federal Platinum Credit Card member would give you an extra 10.99% up to 18.00% APR. This amount is counted as the lowest current balance transfer fee.
You are penalized if you cannot pay the balance transfer fee within the optional 60 days. You would not get to increase your triple-zero money-saving option, and your card probably ends immediately. An additional $20 per accident is also required to pay off the later payment.
In addition, Navy Federal Platinum Credit Card offers a travel companion that requires you to use the card overseas. Moreover, this card could not need extra fees for international use. This submission becomes a good deal for a credit card offer with no balance transfer fee options.
2. First Tech Credit Union Platinum Mastercard
Next is First Tech Federal Credit Union, based in California and expanding the company’s range to the Pacific Northwest. Membership in this company would be possible if you work at the company’s branch.
Additionally, you would automatically become a member if you applied for Computer History Museum and Financial Fitness Association. The annual membership cost would be dissimilar for each branch. Computer History Museum costs $15 annually, yet Financial Fitness Association costs $8 annually.
Therefore, this credit card offers no balance transfer fees that cost 0% APR intro, $0 for the balance transfer fee, and an annual fee of $0 for the first 90 days during the 12 billing period. However, an additional APR cost for the next period starts from 11.99% to 18.00%.
3. Wings Visa Platinum Card
There is also another credit card with no balance transfer fees option; it is Wings Financial Credit Union. This company is based in Minnesota. Wings required the cardholders to pay $5 for the Wings Financial Foundation allowance.
Next, if you already filled the first requirement, you can enjoy 0% intro APR. In addition, you would also enjoy the $0 annual transfer fee for the first 12 months offerings. After a year, you would get a cost of 13.15% up to 18.00% APR for the next period.
However, the intro APR promotional period starts from the first opening account within 60 days. Furthermore, you would be charged with beneficial advantageous options offered by Wings Visa Platinum Credit Card.
Benefit of Credit Card Offer with No Balance Transfer Fees
Generally, the benefit of a credit card offer with no balance transfer fees would occur on the company’s side. Credit card companies carry numerous reasons to offer no balance transfer fee to the customer. It is probably used to attract you as the cardholder to apply for their credit card.
The balance transfer fees would be interchange fees from retailers. It would be directly sent to the credit card company for every transaction the customer makes.
In some cases, the customer would only be able to pay the balance after the end of the introductory period. Thus, the customer still saves the remaining balance on the credit bank as it is a regular interest rate.
Is It Worth to Use Credit Card Offer with No Balance Transfer Fees?
Basically, the 0% intro APR and other no-balance transfer fees option probably would be interesting to apply for. However, credit card offer with no balance transfer fees directly benefits the credit card issuers. For the same reason, you couldn’t carry the benefits of card use.
Yet, several points need to be pointed out to help you save more money. The most necessary thing to do for you is cross-check the credit card company policy you want to apply for. This step was taken to ensure the amount of further APR that was required.