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Best 0% Balance Transfer Credit Card Depends on Balance Transfer Fees


How do you exactly choose the best 0% balance transfer credit card? Well, it depends how long is the introductory offer? What is the rate thereafter? But more importantly, does it charge any balance transfer fees?

But there’s more to balance transfer fees that meets the eye. If you are not careful, that 0% teaser deal may not work out so well. In the good old days (pre 2008 credit crisis), credit card issuers charged no balance transfer fees. Or if they did, they put a cap to it (looks something like this)

3% of balance transfer, minimum of $10, maximum of $75.

But with the onset of the financial crisis, most credit card issuers have removed the cap on balance transfer fees. In fact, nobody caps them anymore.

The low down on balance transfer fees among issuers

Bank of America – No cap on BT fees.

Citicards – No caps on BT fees

Chase – No caps on BT fees.

Discover Cards – No caps on BT fees

So which are the Best 0% Balance Transfer Credit Cards

Right now, all credit cards charge a balance transfer fee for any balance transfer deals. Those that do not charge any BT fees do not have 0% deals. If you are looking for a credit card to do a balance transfer, please check our balance transfer credit cards page for the latest offers. In today’s world again, it looks like the length of the 0% intro deal is more important since all credit card issuers have nearly identical BT fees.

I hope you found this post helpful. Share any balance transfer stories you have.


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