For those in debt, a balance transfer credit card can be a useful tool. These 0% introductory rate offers eliminate the interest you pay for a period of time, enabling you to put more of your monthly payments towards your outstanding debt.
The key is finding the best 0% balance transfer offer. In some cases that may mean a balance transfer card that doesn’t charge a fee. In other cases, it may mean finding an offer with the longest 0% introductory APR. While these deals may seem attractive, it’s still best practice not to transfer balances too often or chase these promotional periods.
To get out of debt faster, and not hurt your credit score (by, for example, applying for too many cards), execute a balance transfer and pay off your debts once and for all. The cards below each come with introductory perks that can save you money when you need those savings the most.
No Fee Balance Transfer Credit Cards
Chase Slate credit card*
This card is one of the few that offer no-fee balance transfers. For the first 60 days your account is open, Chase charges no fees for balance transfers. However, after this time period, the fee for balance transfers is 5% of the amount transferred, with a $5 minimum.
The 0% introductory APR applies to purchases and balance transfers for the first 15 months after you open your account. But be warned. After 15 months, your APR jumps up to 17.24% to 25.99%, based on your creditworthiness. The good news is that Chase won’t raise your APR if you pay your credit card bill late.
