Hello Friends,
In this modern era, credit cards have become an essential part of our daily lives. Credit cards offer a range of benefits, such as convenience and cashback rewards. However, credit cards can sometimes come with hidden fees, such as balance transfer fees. Balance transfer fees can be costly and can add up quickly, especially if you’re carrying a high balance. Luckily, there are credit cards available with no balance transfer fees.
Zero balance transfer fee credit cards are a great option for those who want to transfer their balance to a new credit card without incurring any fees. In this article, we will explore the benefits of zero balance transfer fee credit cards and provide you with a list of the best zero balance transfer fee credit cards available in November 2020.
Why Zero Balance Transfer Fee Credit Cards Are Important
Zero balance transfer fee credit cards can save you a substantial amount of money when transferring your balance from one credit card to another. Traditional credit cards charge a balance transfer fee, which can range from 3-5% of the total balance being transferred. For example, if you’re transferring a balance of $10,000, the balance transfer fee could be as high as $500.
A zero balance transfer fee credit card eliminates this fee and allows you to transfer your balance without any additional costs. By choosing a zero balance transfer fee credit card, you can save hundreds or even thousands of dollars on balance transfer fees.
Benefits of Zero Balance Transfer Fee Credit Cards
Apart from saving you money on balance transfer fees, zero balance transfer fee credit cards offer other benefits as well. These benefits include:
1. Low or 0% Introductory APR
Many zero balance transfer fee credit cards also offer low or 0% introductory APR for a limited time. This means that you won’t have to pay any interest on your transferred balance for a set period, often ranging from 12 to 21 months. This can help you pay off your balance faster and save money on interest charges.
2. No Annual Fees
Most zero balance transfer fee credit cards also have no annual fees, which can save you even more money over the long term.
3. Cashback Rewards
Some zero balance transfer fee credit cards also offer cashback rewards on purchases, which can help you earn money while you spend.
4. Credit Score Improvement
Transferring your balance to a zero balance transfer fee credit card can also help improve your credit score. By consolidating your debts into one account, you’ll have an easier time keeping track of your payments and reducing your overall debt.
Top 5 Zero Balance Transfer Fee Credit Cards
1. Chase Freedom Unlimited
The Chase Freedom Unlimited card offers a 0% introductory APR for 15 months on purchases and balance transfers. There are no annual fees or foreign transaction fees, making it an excellent option for those who frequently travel abroad. The card also offers 1.5% cashback on all purchases, making it a great option for those looking to earn cashback rewards.
2. Discover it Cash Back
The Discover it Cash Back card offers a 0% introductory APR for 14 months on purchases and balance transfers, followed by a variable APR of 11.99% – 22.99%. The card has no annual fees and offers 5% cashback on rotating categories, making it an excellent option for those who enjoy earning cashback rewards.
3. Citi Diamond Preferred Card
The Citi Diamond Preferred Card offers a 0% introductory APR for 18 months on purchases and balance transfers, followed by a variable APR of 14.74% – 24.74%. The card has no annual fees and offers perks such as Citi Entertainment, which allows you to purchase tickets to concerts and other events.
4. Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card offers a 0% introductory APR for 15 months on purchases and balance transfers, followed by a variable APR of 15.49% – 25.49%. The card has no annual fees and offers 1.5% cashback on all purchases, making it an excellent option for those looking to earn cashback rewards.
5. Wells Fargo Platinum Card
The Wells Fargo Platinum Card offers a 0% introductory APR for 18 months on purchases and balance transfers. The card has no annual fees and offers perks such as cell phone protection and travel accident insurance.
Conclusion
Zero balance transfer fee credit cards can help you save money on balance transfer fees and reduce your debt faster. They also often come with additional benefits such as low or 0% introductory APR, cashback rewards, and no annual fees. If you’re looking to transfer your balance to a new credit card, consider choosing one of the top 5 zero balance transfer fee credit cards we’ve highlighted in this article.
Thank you for reading our article on the best zero balance transfer fee credit cards for November 2020. We hope you found this information helpful. Until next time, farewell and happy saving!
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