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BEST CREDIT CARD

There are a lot of 0% APR credit card deals in your mailbox and online, but most of them slap you with a 3 to 4% fee just to make a transfer, and that can seriously eat into your savings.

If you can pay off your debt within the 0% period, then yes, a no fee 0% balance transfer credit card is your absolute best bet. And if you can’t, you can hope that other 0% deals will be around to switch again.

But if you’re unsure, you might want to consider…

• A deal that has a longer period before the rate goes up. In that case, a balance transfer fee could be worth it to lock in a 0% rate for longer.
• Or, a card with a rate a little above 0% that could lock you into a low rate even longer.

The savings from just one balance transfer can be substantial.

Let’s say you have $5,000 in credit card debt, you’re paying 18% in interest, and can afford to pay $200 a month on it. Here’s what you can save with a 0% deal:

• 18%: It will take 32 months to pay off, with $1,312 in interest paid.
• 0% for 12 months: You’ll pay it off in 28 months, with just $502 in interest, saving you $810 in cash. That even assumes your rate goes back up to 18% after 12 months!

But your rate doesn’t have to go up after 12 months. If you pay everything on time and maintain good credit, there’s a great chance you’ll be able to shop around and find another bank willing to offer you 0% interest again, letting you pay it off even faster.

Before you do any balance transfer though, make sure you follow these 6 golden rules of balance transfer success:

• Never use the card for spending.
• Have a plan for the end of the promotional period.
• Don’t try to transfer debt between two cards of the same bank.
• Get that transfer done within 60 days. Otherwise your promotional deal may expire unused.
• Never use a card at an ATM.
• Always pay on time.

We’ve searched hundreds of balance transfer credit card offers to find the banks and credit unions that ANYONE CAN JOIN which offer great 0% interest credit card deals AND no balance transfer fees. We’ve hand-picked them here.

Chase Slate

This deal is easy to find – Chase is one of the biggest banks and makes this credit card deal well known. You can get this offer if you complete the balance transfer within 60 days of opening the account. So it’s worth a shot to see how big of a credit line you get. If it’s not enough, move on to the other options below.

Chase Freedom

Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Unlimited 1% cash back on all other purchases – it’s automatic. 0% Intro APR for 15 months on purchases and balance transfers. After the intro period, a variable APR of 14.24-23.24%. Balance transfer fee is 5% of the amount transferred, $5 minimum. Enjoy new 5% categories every 3 months like gas stations, restaurants, select grocery stores, and wholesale clubs. Cash Back rewards never expire as long as your account is open. No annual fee

Capital One QuickSilver ONE

There’s a catch here. While there is no balance transfer fee, this card has a $39 annual fee. If you’re transferring a big balance of $2,000 or more, the $39 isn’t a big deal. But if it’s a small balance and one you don’t plan to pay off by May, then consider other options with no annual fee first. Capital One tends to approve people with less perfect credit for this card than some of the other options and you might be able to check if you are pre approved by Capital One without hurting your credit score. Beware that after the 0% rate ends in 9 months your rate will ratchet up to a scary 23.24%.

Citi Double Cash Card

Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Balance Transfers do not earn cash back. 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.24% – 23.24% based on your creditworthiness. Click ‘Apply Now’ to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.No categories to track, no caps on cash back, no annual fee.

Citi Simplicity Card

The ONLY card with No Late Fees, No Penalty Rate, and No Annual Fee… EVER. 0% Intro APR on Balance Transfers and Purchases for 21 months. After that, the variable APR will be 13.24% – 23.24% based on your creditworthiness. There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater. The same great rate for all balances, after the introductory period. Save time when you call with fast, personal help, 24 hours a day – just say “representative” Enjoy the convenience of setting up your own bill payment schedule on any available due date throughout the month.