Best Credit Cards with No Balance Transfer Fees

Comparing the best no-fee balance transfer cards

A closer look at the best credit cards with no balance transfer fees

Capital One Venture Rewards Credit Card

The Capital One Venture Rewards Credit Card is an excellent choice for frequent travelers. Along with no foreign transaction fees, it offers additional perks such as complimentary visits to Capital One Lounges and a $100 credit for Global Entry or TSA PreCheck. Earn two miles per dollar on all purchases and five miles per dollar when you book hotels and rental cars through Capital One Travel. With the flexibility to use your miles with any airline, this card is perfect for travel enthusiasts.

Rewards rate: Earn 2 points per dollar on all purchases, and 5 points per dollar on hotels and car rentals booked through Capital One Travel.

Intro APR: N/A

Regular APR: 20.99% – 28.99% variable

Signup bonus: Earn 75,000 bonus miles once you spend $4,000 on purchases within the first three months from account opening.

Our verdict: The Capital One Venture Rewards Credit Card is ideal for individuals with excellent credit. While it has an annual fee of $95, it doesn’t charge any balance transfer or foreign transaction fees. However, remember that there is a cash advance fee of $3 or 3%, whichever is greater. This card doesn’t offer an introductory APR, so it’s worth considering only if the regular APR is lower than the card from which you’re transferring the balance. If Capital One does offer you an intro APR period, note that there will be a balance transfer fee of 3%.

Pros:

• No balance transfer fees or foreign transaction fees.
• Complimentary access to Capital One Lounges.
• Generous rewards program with bonus miles.
• Flexible miles redemption options.

Cons:

• Annual fee of $95.
• Cash advance fees apply.

Apply now: Capital One Venture Rewards Credit Card

First Tech Choice Rewards World Mastercard

The First Tech Choice Rewards World Mastercard doesn’t charge annual fees, balance transfer fees, cash advance fees, or foreign transaction fees.

Rewards rate: Earn 2 rewards points per dollar on everyday purchases, including gas, groceries, household goods, and more. Earn one reward point per dollar on all other purchases.

Intro APR: 0.00% introductory Annual Percentage Rate, no-fee balance transfers for 12 billing cycles for transfers made within 90 days of account opening.

Regular APR: 13.25% – 18.00% variable

Signup bonus: 20,000 bonus points when you spend at least $3,000 in the first 60 days.

Our verdict: This card is ideal for individuals who want to earn rewards on their everyday purchases and recurring expenses. You can accumulate points quickly and enjoy discounts on select services and qualify for extra perks by opening a checking and savings account with the credit union.

Pros:

• No annual fees, balance transfer fees, cash advance fees, or foreign transaction fees.
• 0% introductory APR for one year on balance transfers.
• Impressive rewards program with bonus points.
• Discounts on select services.

Cons:

• Membership with First Tech Credit Union required

Apply now: First Tech Choice Rewards World Mastercard

Navy Federal Platinum Credit Card

The Navy Federal Platinum Credit Card is an excellent choice for individuals with average to excellent credit.

Rewards rate: N/A

Intro APR: 0.99% for 12 months on balance transfers made within 60 days of opening an account.

Regular APR: 10.99% – 18.00% variable.

Signup bonus: N/A

Our verdict: The Navy Federal Platinum Credit Card best suits those seeking a low introductory APR on balance transfers that transition to a lower-than-average APR after 12 months. Cardholders enjoy benefits like collision damage waiver for rental cars, emergency assistance, fraud alerts, and competitive APR. There are no annual fees, foreign transaction fees, or cash advance fees. This card is exclusively available to Navy Federal Credit Union members, including active and retired military personnel and their family members.

Pros:

• Low introductory APR on balance transfers.
• Additional perks such as collision damage waiver and emergency assistance.
• No annual fees, foreign transaction fees, or cash advance fees.
• Exclusively available to Navy Federal Credit Union members.

Cons:

• Restricted to Navy Federal Credit Union members.

Apply now: Navy Federal Platinum

Wings Visa Platinum Card

The Wings Visa Platinum Card from Wings Financial Credit Union doesn’t charge any balance transfer, foreign transaction, or annual fees. However, it does have a cash advance fee of the greater of $10 or 2%.

Rewards rate: 1 point per dollar on all purchases.

Intro APR: 0% introductory APR on all purchases and balance transfers for 12 months after opening the account.

Regular APR: 13.15% – 18.00% variable.

Signup bonus: N/A

Our verdict: This card is a great option for individuals who want to use the extended balance transfer window. Unlike other cards that restrict promotional rates to the first 60 days, the Wings Visa Platinum Card allows you to transfer balances without losing the introductory rate. It’s important to transfer balances as soon as possible to maximize the benefits of the intro APR. Additionally, cardholders enjoy travel perks, such as collision damage waiver protection on rental cars.

Pros:

• 0% introductory APR on purchases and balance transfers for 12 months.
• No balance transfer, foreign transaction, or annual fees.
• Simple rewards program.
• Travel perks.

Cons:

• Cash advance fees apply.

Apply now: Wings Visa Platinum

Edward Jones Business Plus Mastercard

The Edward Jones Business Plus Mastercard is an excellent choice for small business owners. There are no foreign transaction fees; the annual fee is waived if you make at least one purchase each year. Otherwise, the annual fee is $25.

Rewards rate: Earn 1.5 Loyalty Points for every dollar spent on eligible net purchases up to $40,000. Earn 2 Loyalty Points® for every dollar spent on eligible net purchases over $40,000. Earn an additional 4 Loyalty Points on prepaid hotels and car rentals booked directly in the Edward Jones Rewards Travel Center.

Intro APR: 0% Intro APR for the first 12 billing cycles on balance transfers and a 0% Introductory fee for balances transferred within the first 60 days of account opening. After that, a balance transfer fee of 3% of each transferred amount ($5 minimum) will apply.

Regular APR: 19.99% – 29.99% variable

Signup bonus: Earn 15,000 Bonus Loyalty Points® after you spend $1,000 in eligible net purchases on your card within 90 days of opening your account.

Our verdict: The Edward Jones Business Plus Mastercard is specifically designed for business owners who are clients of Edward Jones. It’s an excellent option for those looking to transfer high-interest debt and pay it off within the interest-free introductory period of 12 months. However, remember that the regular APR is not as competitive as some other balance transfer cards, so it’s crucial to take advantage of the interest-free period to minimize any remaining debt.

Pros:

• 0% introductory fee and APR on balance transfers for 12 months.
• No foreign transaction fees.
• Waived annual fee with at least one purchase per year.
• Generous rewards program with additional loyalty points for prepaid hotels and car rentals.

Cons:

• Restricted to Edward Jones clients who are business owners.
• Higher regular APR compared to some other balance transfer cards.

Apply now: Edward Jones Business Plus Mastercard

How to choose a card with no balance transfer fee?

When looking for a credit card with no balance transfer fees, there are a few key factors to consider:

1. Zero balance transfer fee: Make sure the credit card explicitly states that it offers no balance transfer fees. Read the terms and conditions carefully to ensure there are no hidden fees or time restrictions.
2. Introductory APR: Look for cards that offer a 0% introductory APR on balance transfers. This will allow you to avoid interest charges during the promotional period, typically ranging from six to 18 months.
3. Credit limit: Check the credit limit on the card to ensure it is sufficient to accommodate your balance transfer. Some cards may offer a lower credit limit for balance transfers than regular purchases.
4. Long-term benefits: Consider the card’s benefits beyond the balance transfer feature. Look for rewards programs, cashback opportunities, or other perks that align with your spending habits and financial goals.
5. Annual fees: While focusing on cards with no balance transfer fees, you should also check for any annual fees. Aim for a card with no or low annual fees to maximize your savings.

How to apply for a no balance transfer fee card?

Once you’ve identified a credit card with no balance transfer fees that suit your needs, follow these steps to apply:

1. Research the card: Visit the card issuer’s website or call their customer service to gather all the necessary information about the card, including eligibility requirements, terms, and conditions.
2. Check your credit score: Before applying, check your credit score. Most cards with no balance transfer fees require good to excellent credit. Knowing your score will give you an idea of your chances of approval.
3. Gather required documents: Prepare the necessary documents, including identification, proof of income, and any other supporting documents required for the application.
4. Fill out the application: Complete the credit card application accurately, providing all the required information. Double-check for any errors or omissions before submitting it.
5. Wait for a decision: Once you submit your application, the card issuer will review it. This process typically takes a few business days. You may receive a decision via email or mail.
6. Activate and initiate balance transfer: If approved, follow the instructions provided by the card issuer to activate your new card. Once activated, contact the card issuer to initiate the balance transfer from your existing credit card.

When is it worth it to pay a balance transfer fee?

While no balance transfer fee cards are advantageous for most individuals seeking to reduce their debt, there are situations where paying a balance transfer fee might be worthwhile:

1. Lower interest rate: If the card with a balance transfer fee offers a significantly lower interest rate than your current credit card(s), it might offset the cost of the fee in the long run.
2. Shorter payoff timeline: If you can pay off your transferred balance within a short period, such as a few months, the interest savings from a no-balance transfer fee card may not outweigh the benefits of a lower ongoing interest rate.
3. Rewards or benefits: Some credit cards with balance transfer fees offer attractive rewards or benefits programs that could outweigh the cost of the fee, especially if you plan to use the card for regular purchases after the transfer.
4. Limited options for no-fee cards: In some cases, you may have limited options for no-balance transfer fee cards due to your credit score or other factors. A reasonable balance transfer fee might be a worthwhile compromise if you can consolidate your debt effectively.

Before deciding whether to pay a balance transfer fee, calculate the potential savings and weigh them against the cost. It’s essential to consider your financial situation and goals to make the best decision for your specific circumstances.

Learn more: Understanding Balance Transfer Fees

Methodology

The methodology used to calculate the best no-fee balance transfer cards relied on several factors, with the most prominent of those being:

• Intro APR on balance transfers.
• The required credit score to apply successfully for the card.
• The additional benefits offered by the card beyond rewards.
• The rewards rate of the card.
• The history of the card issuer itself.

The product information provided here is based on research conducted up to a specific date and may have changed. For the latest and most accurate information, we recommend you visit the respective card’s website before proceeding.

The product information provided here is based on research conducted up to a specific date and may have changed. For the latest and most accurate information, we recommend you to visit the respective card’s website before proceeding.