Balance Transfer Cards Which Have No Balance Transfer Fee

0% Introductory Offers Abound In Credit Card Market

Despite rumors of the impending disappearance of credit card offers with 0% introductory rates, these deals are not difficult to find right now.

The Credit Card Accountability Responsibility and Disclosure Act (CARD Act) brought many changes to the credit card industry in 2009 and 2010. Thus far in 2011, there have not been any major changes in legislation.

Some predicted that there would be fallout as a result of the CARD Act changes, as consumers could potentially have a harder time finding the 0% introductory deals of old. This prediction has not come true thus far. In fact, qualified applicants seemingly have a wide range of 0% deals to choose from.

As of late, credit card issuers are offering new applicants 0% interest rates on both purchases and balance transfers.

Citi Cards is currently offering two different credit cards that have an introductory interest rate of 0% on both purchases and balance transfers for 18 months, while Discover is currently running a limited-time balance transfer promotion, offering new applicants 0% on balance transfers for 2 years for one of the cards in its More Card series.

Other banks and credit card issuers are offering similar deals, as well. Zero introductory interest rates for one year or more are not as difficult to find as in the recent past.

Balance Transfer Cards: Why Not?

Here's an updated look at some of the best available balance transfer credit card offers for U.S. consumers as of Friday, March 11, 2011.

In many cases, a balance transfer from an old card with a high interest rate to a fresh new account with a low interest rate -- or, better yet, introductory 0% intro APR for a year or longer -- can be a great financial move. It takes the pressure off (temporarily, of course) and keeps the circling interest rate sharks from swimming too close.

Keep in mind, these offers have a balance transfer fee that is typically 3 to 5 percent of the balance transferred onto the new card. So it's not "free," but it's still better than paying 16.99% APR or even higher on that outstanding balance you've been trying to pay down for the past few years. (Discover had a "no fee" balance transfer offer, but it ended at the end of February. As far as I know, no other major issuers are offering such a deal at the moment, but check back on Outlaw often.)