
No interest on balance transfers until 2024 with special introductory rates on some new accounts
When you transfer your high-interest balance to a credit card offering an introductory 0% APR (Annual Percentage Rate) you could reduce your monthly credit card bills by a significant amount.
A fixed interest rate of zero financing for a year or more allows you to make affordable payment on only the balance you owe. Note that minimum monthly payments are still due until the intro period ends. Once the special 0% rate expires regular rates will apply to the remaining balances.
CHECKLIST
Most major banks charge upfront balance transfer fees that are added to the balance. Usually the fees are less than interest you’re currently paying, but check with a professional financial advisor before proceeding with a balance transfer. Fees such as balance transfer, annual, late payment, etc. could swallow up any savings on interest.
See if credit line with the new card covers the amounts you want to transfer. For instance if you have a $10,000 balance to transfer and only get a $2,500 credit line with the new card, that may not be enough to save a meaningful amount. You’ll also be complicating life by having more credit card payments to keep track of.
Never charge anything on the card since purchases often are mixed in with transfers. When that happens the entire balance may be due way before the expiration of the introductory period. If not paid in full you might even pay regular interest rates on the amounts transferred.
Normally you cannot transfer balances between cards from the same bank or issuer. Inquire whether funds from the new card can be sent to the original card. Otherwise an excess of “hard” inquiries could damage your credit score.
Allow a lag time between transfer request and its posting to the old card. A month might pass before balance is erased from the high-interest account. That delay might result in an unexpectedly large amount due for the first card.
THE CARDS
The credit cards below feature longer 0% APR periods so you can pay bills in a planned manner under the guidance of trusted financial mentor.
24 MONTH INTRO 0% APR
Fulton Bank Consumer Platinum Visa Card
- 24 month zero-interest intro APR(conditions apply)
- Balance transfer fee: 3%
- Also offers 0% APR on purchases for 24 months
- No annual fee
- Regular APR is 14.74% to 24.74% after intro period expires
21 MONTH INTRO 0% APR
Wells Fargo ReflectSM Visa Card
- 21 month zero-interest intro APR(conditions apply)
- Balance transfer fee: 3%
- Also offers 0% APR on purchases for 21 months (other 0% APR purchases offers)
- No annual fee
- Regular APR is 12.99% to 24.99% after intro period expires
Citi Diamond Preferred Mastercard®
- 21 month zero-interest intro APR on balance transfers made within 4 months of account opening
- Balance transfer fee: 3%
- Also offers 0% APR on purchases for 12 months
- No annual fee
- Regular APR is 13.74% to 23.74% once intro period expires
Citi Simplicity® Credit Card
- No interest intro APR for 21 first months
- Transfers must be completed during initial 120 days of account opening
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 14.74% to 24.74% once intro period expires
20 MONTH INTRO 0% APR
U.S. Bank Visa® Platinum Card
- 20 month 0% intro APR for transfers completed within first 60 days
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 14.49% to 24.49% once intro period expires
18 MONTH INTRO 0% APR
Chase Slate Edge® Visa Card
- 18 month introductory no interest APR on balance transfers and purchases
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 15.24% to 23.99% after intro offer expires
Fifth Third Bank Truly Simple Mastercard®
- 18 month introductory no interest APR
- Balance transfer fee: 4%
- No annual fee
- Regular APR is 11.99% to 22.99% after intro offer expires
U.S. Bank Cash+® Visa Signature® Card
- 18 month zero-interest intro APR(valid for first 4 months)
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 13.99% to 23.99% after intro period expires
BankAmericard®
- No interest APR for first 18 months on balance transfers made within first 60 days
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 12.99% to 22.99% after intro offer expires
Citi Double Cash Mastercard®
- 18 month zero-interest intro APR(within first 60 days)
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 13.99% to 23.99% after intro period expires
Citizens Bank Clear Value® Mastercard®
- No interest APR for first 18 months on balance transfers
- No cut-off date during balance transfer introductory period
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 13.99% to 21.99% after intro offer expires
15 MONTH INTRO 0% APR
PNC Core Visa® Credit Card
- 15 month introductory no interest APR on transfers made within the first 90 days following account opening
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 10.99% to 22.99% after intro offer expires
Truist Future credit card
- 15 month introductory no interest APR on balance transfers in first 90 days after account opening
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 11.24% to 20.24% after intro offer expires
Citi Rewards+ Mastercard®
- 15 month introductory 0% APR on balance transfers
- They must be completed within first 120 days
- Balance transfer fee: 3% for first 4 months of opening, 5% thereafter
- No annual fee
- Regular APR is 13.49% to 23.49% after intro offer expires
Bank of America Unlimited Cash Rewards® Card
- No interest APR for first 15 months on balance transfers made within first 60 days
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 13.99% to 23.99% after intro offer expires
Citi Custom CashSM Credit Card
- 15 month introductory 0% APR on balance transfers
- They must be completed within first 120 days
- Balance transfer fee: 5%
- No annual fee
- Regular APR is 13.99% to 23.99% after intro offer expires
Wells Fargo Active Cash Card
- 15 month introductory 0% APR on balance transfers
- Balance transfer request must be made within first 120 days
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 14.99% to 24.99% after intro offer expires
Diamond Resorts World Mastercard® from Barclays Bank
- 15 month introductory 0% APR on balance transfers
- Balance transfer request must be made within first 45 days
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 15.74% to 24.99% after intro offer expires
AARP® Travel Rewards Mastercard® from Barclays Bank
- 15 month introductory 0% APR on balance transfers
- Balance transfer request must be made within first 45 days
- Balance transfer fee: 5%
- No annual fee
- Regular APR is 16.74% to 25.74% after intro offer expires
TD CashSM Credit Card
TD DoubleUpSM Credit Card
- 15 month introductory no interest APR on balance transfers
- Balance transfer fee: 3%
- No annual fee
Mastercard® Black Card (Barclays Bank)
Mastercard® Gold Card (Barclays Bank)
Mastercard® Titanium Card (Barclays Bank)
- 15 month introductory 0% APR on balance transfers
- Balance transfer request must be made within 45 days of opening
- Balance transfer fee: 3%
- Annual fees are $195 (Titanium), $495 (Black), $995 (Gold)
- Regular APR after intro offer expires varies on which card you apply for and credit history
Bank of America® Customized Cash Rewards Credit Card
- 15 month introductory no interest APR on transfers within first 60 days of account opening
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 13.99% to 23.99% after intro offer expires
BMO Harris Bank Platinum Mastercard®
- 15 month introductory 0% APR on balance transfers
- Balance transfers must be completed within first 90 days of account opening
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 12.24% to 20.24% after intro offer expires
- Available only in Arizona, Florida, Indiana, Illinois, Kansas, Minnesota, Missouri and Wisconsin
Bank of the West (BNP Paribas) Platinum Mastercard®
- 15 month introductory 0% APR on balance transfers
- Balance transfers must be completed within first 90 days of account opening
- Balance transfer fee: 4%
- No annual fee
- Regular APR is 14.99% to 22.99% after intro offer expires
Citizens Bank Cash+ World Mastercard®
- 15 month introductory no interest APR
- Balance transfer fee: 4%
- No annual fee
- Regular APR is 15.99% to 23.99% after intro offer expires
Regions [Bank] Life Visa® Card
- 15 month introductory 0% APR on balance transfers
- Balance transfers must be completed within first 60 days of account opening
- Balance transfer fee: 4%
- No annual fee
- Regular APR is 11.99% to 21.99% after intro offer expires
KeyBank Latitude® Credit Card (limited availability)
- 15 month introductory 0% APR on balance transfers and purchases
- Balance transfers must be completed within first 60 days of account opening
- Balance transfer fee: 3%
- No annual fee
- Regular APR is 9.99% to 19.99% after intro offer expires
Elan Financial Services
Elan Financial Services issues 24-month introductory 0% APR on selected credit cards on behalf of several banks, which normally have the following terms:
- 0% APR financing for first 24 months after opening account
- Balance transfer fee: 3%
- No annual fee
- Regular APR of 14.74% to 24.74% once intro period expires (changes depending on prime interest rates)
A small sampling of those banks are:
Busey Bank Visa® Platinum Card
Country Club Bank Visa® Platinum Card
Envision Bank Visa® Platinum Card
First Financial Northwest Bank Visa® Platinum Card
Highland Bank Visa® Platinum Card
Hillcrest Bank Visa® Platinum Card
People’s United Bank Mastercard® Platinum Card
Webster Bank Visa® Platinum Card
Westfield Bank Visa® Platinum Card
NO BALANCE TRANSFER FEE & INTRO 0% APR
Union Bank Platinum Visa Credit Card
- 15 month introductory no interest APR
- No balance transfer fee on transfers made within 60 days; 3% after that (terms)
- No annual fee
- Regular APR is 8.49% to 19.99% after intro offer expires
Navy Federal Credit Union®Credit Card (members only)
- 12 month introductory 0% APR
- No balance transfer fee
- No annual fee
- Regular APR is 5.99% to 18.00% after intro offer expires
Purdue Federal Visa Signature (members only)
- 12 month introductory 0% APR on purchases, balance transfers and cash advances
- Balance transfer fee: 0%
- No annual fee
- Regular APR is 11.50% to 17.50% after intro offer expires
- General membership via one-time $50 fee to join Purdue University Alumni Association as a Friend of the University
First Tech FCU Platinum Mastercard (members only)
- 12 month introductory 0% APR
- Balance transfer fee: 0%
- No annual fee
- Regular APR is 6.99% to 18.00% after intro offer expires
- General membership via one-time fee to join Computer History Museum or the Financial Fitness Association
Wings Visa® Platinum Credit Card (credit union members only)
- 12 month introductory 0% APR
- Balance transfer fee: 0%
- No annual fee
- Regular APR is 8.15% to 18.00% after intro offer expires
- General membership via one-time fee to join Wings Financial Foundation