4 Best No Transfer Fee Balance Transfer Credit Cards (2024)

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The 2022 holidays were tough on consumers’ credit card balances, with 35% of Americans taking on holiday debt, down just 1% from the previous year. The average consumer borrowed $1,549 for holiday spending, 24% more than the previous year. Transferring credit card debt to a credit card with a 0% APR offer and no balance transfer fee can help you get rid of your debt.

Why is a credit card with no balance transfer fee important? We’ll explain how much you save with one of these credit cards below. Here’s our list of the best balance transfer credit cards with no transfer fees.

4 Best No Transfer Fee Balance Transfer Credit Cards (1)

Best No Fee Balance Transfer Cards

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  • 4 Balance Transfer Credit Cards With No Balance Transfer Fees
    • 1. Navy Federal Credit Union Platinum Credit Card
    • 2. Wings Visa® Platinum Credit Card
    • 3. SchoolsFirst Federal Credit Union Inspire Mastercard®
    • 4. Edward Jones World Mastercard®
  • Is a Credit Card with No Balance Transfer Fee Better Than a Credit Card With a Long 0% Intro APR?
  • What Kind of Credit Is Needed to Get a Credit Card with No Balance Transfer Fee?
  • Best Balance Transfer Credit Card w/ a BT Fee
  • How to Choose a Card
  • FAQs
  • Final Thoughts
  • Related

4 Balance Transfer Credit Cards With No Balance Transfer Fees

Transferring a credit card balance from a high-interest credit card to a low- or no-interest credit card can help you pay off your credit card debt faster. There’s just one problem… the balance transfer fee.

Credit card companies typically charge 3% or 4% of the amount transferred as a fee. This fee is then added to your balance on the new card. While this may still be a good deal, an even better deal would be a no-fee balance transfer. But there’s a catch. They are really hard to find.

Most no-fee balance transfer credit cards come from lesser-known credit card companies. We’ve found five options that we think are worth considering. Take a look a the list below and then check out the next section where we explain how a no-penalty balance transfer credit card can save you money.

1. Navy Federal Credit Union Platinum Credit Card

4 Best No Transfer Fee Balance Transfer Credit Cards (2)

Navy Federal Credit Union Platinum Credit Cardrequires a membership with the Navy Federal Credit Union, but it offers many benefits, especially if you have high credit card balances. With no balance transfer or annual fee, it’s easy to save when using the Navy Federal Platinum credit card, and it doesn’t hurt that its ongoing APR is quite competitive.

  • Intro APR – 0.99% introductory APR for the first 12 months on balance transfers made in the first 60 days
  • Regular APR – 11.24% - 18.00%
  • Balance transfer fee – None
  • Welcome bonus – None
  • Annual fee – $0

Best For: The Navy Federal Platinum card is a good choice to help you get out of high-interest credit card debt, but it doesn’t offer many perks beyond that, so it’s best for use as a balance transfer card only. You will need to have some connection to the military or the Department of Defense to qualify for membership, such as a family member who served.

App StatusDateCredit ScoreBureauCredit Limit
Approved03/24/2022
755
Equifax
$1,000
Approved06/16/2021
677
TransUnion
$10,000
Approved04/09/2020
791
TransUnion
$25,000
Approved04/02/2020
708
TransUnion
$1,000
Approved11/27/2021
784
Experian
$18,000
Approved11/27/2021
787
Equifax
$18,000
Approved11/27/2021
789
TransUnion
$18,000
Approved03/24/2022
759
TransUnion
$1,000
Approved04/09/2020
771
Experian
$25,000
Approved04/09/2020
794
Equifax
$25,000
Denied12/05/2021
703
TransUnion
---

2. Wings Visa® Platinum Credit Card

4 Best No Transfer Fee Balance Transfer Credit Cards (3)

Wings Visa® Platinum Credit Cardis a great option for people with high credit card balances who also belong to the Wings Credit Union. You get 12 months to pay off your balances at 0% APR, and their ongoing APR is competitive too. This credit card doesn’t pay rewards, so it’s not the best option for ongoing purchases, but it may assist you in getting out of debt fast.

  • Intro APR – 0% introductory APR for 12 months on balance transfers and purchases
  • Regular APR – 13.40% - 18.00%
  • Balance transfer fee – None
  • Welcome bonus – None
  • Annual fee – $0

Best For: Use the Wings Visa Platinum credit card to control your debt, and then move on to another rewards credit card that will pay you cashback for your regular purchases. To be eligible to join Wings Credit Union, you must either live in an eligible Minneosta or Wisconsin county; work in the aviation industry, or be willing to donate $5 to the Wings Financial Foundation.

App StatusDateCredit ScoreBureauCredit Limit
Approved01/05/2021
818
Not Provided
$20,000
Approved09/24/2019
691
Experian
$5,000

3. SchoolsFirst Federal Credit Union Inspire Mastercard®

4 Best No Transfer Fee Balance Transfer Credit Cards (4)

SchoolsFirst Federal Credit Union Inspire Mastercard®is a good option for members of the Schools First Federal Credit Union that have high-interest credit card debt they need to control. The introductory APR isn’t as long as other cards, so keep that in mind if you apply for this card.

  • Intro APR – 0% introductory APR for 6 months on balance transfers and purchases
  • Regular APR – 13.75% - 17.90%
  • Balance transfer fee – $0
  • Welcome bonus – None
  • Annual fee – $0

Best For: The Schools First Federal Credit Union Inspire Mastercard is best for people with low to moderate credit card debt that want to save on interest to pay the debt off in as little as 6 months. Unfortunately, the card doesn’t have ongoing rewards, so it’s best used strictly as a balance transfer credit card. Schools First Credit Union is a California-based credit union that serves current and retired school employees and their families.

App StatusDateCredit ScoreBureauCredit Limit
Approved11/02/2023
692
Experian
$10,000

4. Edward Jones World Mastercard®

4 Best No Transfer Fee Balance Transfer Credit Cards (5)

The Edward Jones World Mastercard® is a rewards credit card is designed for those who invest through Edward Jones. Given the firm’s high investment fees, however, we don’t recommend it. That being said, if you are a client, the card does come with a no fee balance transfer offer.

  • Intro APR – 0% introductory APR for first 12 billing cycles on balance transfers, after that 18.24%
  • Regular APR – 18.24%
  • Balance transfer fee – 0% on balances transferred within the first 60 days. After that, a balance transfer fee of 3% of each transfer amount ($5 minimum) will apply.
  • Welcome bonus – None
  • Annual fee – $0

Best For: The Edward Jones World Mastercard is best for anyone with an Edward Jones investment account who want to pay off high interest debt with a balance transfer credit card.

Is a Credit Card with No Balance Transfer Fee Better Than a Credit Card With a Long 0% Intro APR?

Many credit cards offer either no balance transfer fee or a long intro APR – not both. So how do you decide which balance transfer card is better?

Balance transfer fees are typically 3 to 5 percent of the balance transferred. If you transfer $1,000, that’s $30 to $50 just to transfer the balance, but you might feel good about the longer introductory APR with no interest.

For example, the Navy Federal credit card has a 0% APR for 12 months and no balance transfer fee, while the Citi® Double Cash Card - 18 month BT offer offers an 18 months-month 0% introductory APR with a 3% balance transfer fee (minimum $5).

Let’s say you have a $1,000 balance and a minimum $58 payment. Over 12 months, you’d pay down $696 of the debt, leaving $304 subject to interest. With the Navy Federal credit card, you’d pay no balance transfer fee and $16 in interest over the extra six months when the APR would go to its regular rate of say 18%.

With the Citi Double Cash, you’d pay a $30 balance transfer fee, which is more than you’d pay in interest over the extra six months with the Navy Federal credit card.

Now, look at two more balances – $2,500 and $5,000 to see how it works.

With a balance of $2,500, you’d have a minimum payment of $145, paying off $1,740 in 12 months. This leaves $760 subject to interest with the Navy Federal credit card or $40 in extra interest. The Citi Double Cash card would cost $75 in a balance transfer fee or $35 more just to get the extra six months interest-free.

Finally, with a balance of $5,000, you’d have a minimum payment of $290 per month, which means you’d pay off $3,480 in 12 months. For the remaining six months, you’d pay interest on the $1,520 balance, which is $57. If you paid the balance transfer fee on the Citi Double Cash card to get the extra six months of no interest, it would cost $150 or $93 more.

What Kind of Credit Is Needed to Get a Credit Card with No Balance Transfer Fee?

Most no-balance transfer fee credit cards require good to excellent credit, which often means credit scores over 700. However, there are credit cards, especially those from credit unions, that look at factors other than your credit score, allowing you to get approved for a credit card with less-than-perfect credit.

Best Balance Transfer Credit Card w/ a BT Fee

The biggest downside to the available no-fee balance transfer options above is the length of the 0% introductory offer. A 0% APR for 12 months is good. There are other cards on the market, however, that have a longer deal. Some offer 0% intro APR on balance transfers for 18 months. There are even cards that offer 0% for 21 months.

Get details of these longer offers here.

In either situation, the most important thing you can do if you’re struggling to pay down your credit card debt and have the quality credit score needed for one of the best balance transfer credit cards above is to apply and transfer the credit card balance with the highest interest rate as fast as you can.

How to Choose a Card

As you consider your options, keep the following in mind:

Balance transfer fees are just part of the equation: While it’s a good feeling to get something for free, the fees are just part of the equation. You should also consider the length of the 0% balance transfer offer.

You may want multiple balance transfer cards: You may need more than one card. This is particularly true if you have a lot of credit card debt to transfer. A single card may not give you the credit limit you need to transfer all of your debt. In this case, you may select no-fee cards as well as longer 0% offers.

Same issuer transfers are not allowed: Most credit card companies prohibit transfers between two of their own cards. Keep this in mind as you are mapping out your strategy.

Credit unions have some excellent offers: Included in our list are cards from credit unions. While you may need to jump through some hoops to qualify, it may well be worth the effort.

Keep balance transfer cards separate: It’s best not to use a balance transfer card for spending. The goal of a balance transfer is to help you get out of debt. Spending more on the cards may derail your efforts.

Have a plan when the 0% offer expires: If you can’t pay off the debt before the end of the introductory offer, have a plan. This may include transferring the remaining balance to another 0% credit card.

FAQs

What is the catch with balance transfer credit cards?

There usually isn’t a catch with balance transfer credit cards as long as you understand the terms. For example, ensure you understand the 0% introductory APR term, which usually lasts 12 months or less. When the 0% APR expires, you’ll pay the regular APR on any remaining balance. Therefore, if you want to get out of debt without paying interest, you must make payments high enough to pay the debt off within the 0% APR term.

How much is too much for a balance transfer?

Your balance transfer limit will depend on your credit limit. Some credit card companies limit your balance transfer amount to a percentage of your total credit limit. But, of course, you cannot transfer more than your credit limit.

Do balance transfers hurt your credit?

Balance transfers may hurt your credit score if you open a new credit card. New credit always dings your credit score slightly. How badly it affects your credit score depends on how you use it. If you close the account the balance transfer card replaces, you might increase your credit utilization rate and hurt your credit. However, using the card responsibly and paying the debt quickly can help your credit score.

How long does a balance transfer take?

A balance transfer can take 5 to 7 business days and sometimes longer. It depends on the credit card companies and how quickly they process the transfer. Some credit card issuers ask for several weeks to process the transfer.

Final Thoughts

Look at the big picture when deciding which balance transfer card is best. We often assume the card with the longer 0% APR balance transfer period is better because everyone thinks paying interest is bad. However, when you look do a few calculations, sometimes paying the interest for a short time and skipping the balance transfer fee is the best option.

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4 Best No Transfer Fee Balance Transfer Credit Cards (2024)

FAQs

4 Best No Transfer Fee Balance Transfer Credit Cards? ›

The TDECU Onyx Mastercard® is one of the best credit cards with no balance transfer fee because it offers an introductory APR of 0% for 12 months on balance transfers requested within 30 days of opening an account.

Is there a card that never charges a fee for balance transfers? ›

The TDECU Onyx Mastercard® is one of the best credit cards with no balance transfer fee because it offers an introductory APR of 0% for 12 months on balance transfers requested within 30 days of opening an account.

How do I get around balance transfer fee? ›

You can avoid balance transfer fees by finding credit cards with no fees or introductory periods where no fees are charged. You'll have no transfer fees if you transfer your balance during the introductory period.

Do balance transfers hurt credit score? ›

In some cases, a balance transfer can positively impact your credit scores and help you pay less interest on your debts in the long run. However, repeatedly opening new credit cards and transferring balances to them can damage your credit scores in the long run.

What is the best credit card to transfer balances for fair credit? ›

The best balance transfer credit card for fair credit is the Citi Double Cash® Card because it offers an introductory APR of 0% for 18 months on balance transfers made within 4 months of opening an account.

Is there a catch to balance transfer cards? ›

Balance transfers come with certain costs and limitations, though. Generally, you'll have to pay a balance transfer fee — usually 3% to 5% of the total transferred. And if your balance transfer card's limit is low, you might not be able to transfer your full balance.

Can you get a balance transfer fee waived? ›

Yes, a balance transfer fee can be waived in rare cases, though it's unlikely even with a good, long-standing relationship with your credit card issuer and a strong credit score. Rather than trying to negotiate, the best way to avoid a balance transfer fee is to find a credit card without one.

What is the smartest way to do a balance transfer? ›

8 Smart Ways to Maximize a Balance Transfer
  1. Check your credit score. ...
  2. Decide how much you want to transfer. ...
  3. Make a payoff plan. ...
  4. Be aware of balance transfer fees. ...
  5. Shop around for free balance transfer offers. ...
  6. Understand how to leverage a balance transfer. ...
  7. Don't close your original credit card account.

What is the downside of a balance transfer? ›

Initially, a balance transfer might have a negative effect on your credit score. Applying for a new credit card leads to a hard inquiry on your credit report, which can temporarily lower your score.

What is a reasonable balance transfer fee? ›

Balance transfer fees are typically 3 percent or 5 percent of the total balance you transfer to your new card. So, for every $10,000 in debt you move to a balance transfer credit card, you'll owe an additional $300 or $500.

What happens to an old credit card after a balance transfer? ›

After a balance transfer takes place, your old account remains open. The original card issuer will typically only close your account if you make a request for it to do so. Unless you have a good reason to cancel your old credit card, however, you may want to think twice before you close the account.

How many credit cards are too many? ›

It's generally recommended that you have two to three credit card accounts at a time, in addition to other types of credit. Remember that your total available credit and your debt to credit ratio can impact your credit scores. If you have more than three credit cards, it may be hard to keep track of monthly payments.

Is it smart to pay off a credit card with another credit card? ›

Pros of paying a credit card bill with another credit card

Lower APR and interest savings: If you're transferring a balance from a card with a high APR to one with a lower APR, you'll save money in interest. This allows you to focus on the principal payment of the card that now holds the entire balance.

What is the easiest card to get approved for balance transfer? ›

The easiest balance transfer credit card to get approved for is the Citi Double Cash Card because you only need fair credit to qualify. The Citi Double Cash Card also offers an introductory balance transfer APR of 0% for 18 months.

What bank is the hardest to get a credit card from? ›

Centurion® Card from American Express

A rating of 5 is the best a card can receive. Why it's one of the hardest credit cards to get: The hardest credit card to get is the American Express Centurion Card. Known simply as the “Black Card,” you need an invitation to get Amex Centurion.

Which credit cards give you the highest balance? ›

Best high-limit credit cards
  • Chase Sapphire Preferred® Card.
  • Chase Sapphire Reserve®
  • The Platinum Card® from American Express.
  • Chase Freedom Unlimited®
  • Capital One QuicksilverOne Cash Rewards Credit Card (see rates and fees)
  • Platinum Secured Mastercard® from First Tech Federal Credit Union.

How can I use credit card to transfer money without charges? ›

All you need to do is visit the bank of your Credit Card issuer and submit a duly-filled fund transfer form. You must provide vital details, including your Credit Card number, card expiration date, bank name, branch name, account number, etc in the form. The bank will then initiate the fund transfer into your account.

What bank doesn't charge for transfers? ›

For instance, Fidelity, a brokerage, doesn't charge a wire transfer fee, while some banks, such as Citi, may waive the fee for customers who have certain types of accounts. Other banks, such as Chase or PNC Bank, may have a lower wire transfer fee for sending a wire online.

How much will it cost in fees to transfer a $1000 balance to a credit card? ›

It costs $30 to $50 in fees to transfer a $1,000 balance to a credit card, in most cases, as balance transfer fees on credit cards usually equal 3% to 5% of the amount transferred.

Is it worth it to pay a balance transfer fee? ›

Bottom line. In almost all cases, a 3% balance transfer fee is worth paying, and sometimes even a 5% fee.

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