No Balance Transfer Free Credit Cards
There is a growing need for better interest rates on the debts that consumers have accumulated over time. High interest rates and a variety of miscellaneous fees have prevented many that are in debt from paying down their balances. The surge in no balance transfer fee credit cards is one of the best concepts that have surfaced for consumers that are in debt.
Discover card is one of the credit card companies that have engaged in the offering of no balance transfer fees. The Discover card offer gives customers the ability to transfer balances with no fees attached for 2 years. The fees after this period can range from 11.99% to 19.99%. All of this depends on the individual's credit rating. The Discover card also has other credit cards that offer 0% APR on purchases and balance transfers for 12 and 18 month periods.
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- A low 8% variable APR on balance transfers and purchases
- No Annual Fees
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t's an excellent opportunity for those that have trouble paying all of the additional fees and the high interest charges that are sometimes associated with balances. Credit cards owners have the ability to minimize the total costs that they will be required to pay on a monthly basis. This is quite popular among credit cardholders and beneficial for credit card companies as well. It has allowed companies to gain new customers that may have to break ties with previous credit cards that imposed higher rates.
Citi is another financial group that has also tossed their hat into the ring in the area of no fees on balance transfers. The Citi option is somewhat different because they offer three different cards with different time periods. This is all based an individual credit ratings. This is somewhat more common with Citi credit cards because these cards are usually reserved as somewhat upscale cards.
Individuals that apply for the Citi no fee cards have the options of the Platinum Select, Diamond Preferred, or the Dividend Platinum MasterCard. The Platinum offers 0% APR for 24 months while the Diamond gives users the 0% APR deal for 21 months. These are cards for users that typically have good credit scores. Cardholders with less than stellar credit still have an opportunity to apply, however, because there is also a Dividend Platinum option that offers balance transfers with no fees attached for 15 months. The obvious side note is that users with good credit scores are more likely to repay balances. This is why those cardholders are given a period that is longer than the others. The thing that makes these options appeal to a large consumer base is the fact that these cards also offer a 0% APR on new purchases as well.
In comparison, The Chase credit card gives users 0% APR for 12 months on balance transfers with a $100 cash back bonus. This also has a 5% cash back option which is also available through Discover card. It is also similar to Discover because they have cash back opportunities that change throughout the year.
Most cards that offer these rates are from the major credit card companies. The best way to utilize this option is for users to pay down the balance before the period ends. This is the best way to make the most of the deal and minimize the costs associated with current credit cards.