0% APR no balance transfer fee?

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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jonniex
 
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Location: California

0% APR no balance transfer fee?

Postby jonniex » Wed Mar 24, 2010 12:50 pm

Had a 0% apr no balance transfer fee card with US Bank for over a year. The apr is running out and I was looking to continue playing the 0 apr game and wondering if anyone knows of any cards that have a good deal on balance transfers. I believe I wasnt charged an overall percentage when transferring this debt either. The discover more card seems great but they are charging 4% of whatever amount you are transferring and that seems kind of high. any help let me know thanks!


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CreditCardGuru
 
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Postby CreditCardGuru » Wed Mar 24, 2010 1:53 pm

Welcome to the forum jonniex!

In the past it was rare (but still possible) to find credit card deals without balance transfer fees. Unfortunately after the economic turmoil of 2008 and the subsequent credit card reform which went into effect February of 2010, every financial institution that I know of is charging balance transfer fees. Therefore we may not see another 0% APR no balance transfer fee offer again.

Banks seem to be relying on fees now as their new money maker since they can no longer do the extremely unethical practice of rate jacking. I also loved playing the 0% APR no balance transfer fee game on occasion, but I suppose paying the 4-5% transfer fee for an offer that is 12 months long is still better than paying normal rates.

We do have a page which is constantly updated with the best balance transfer offer from among all our sponsors, which are the major financial institutions. I hope this helps.

-CreditCardGuru

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phanio
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Postby phanio » Thu Mar 25, 2010 1:38 pm

Probably not going to find what you are looking for. Too many people in front of you that have done this and the banks got wise.

You just have figure out which is financially best - look at the long term - how much will another low intro transfer card save you - then subtract out the cost of transferring. If it is positive, then it might be worth the effort.
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