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Best No-Balance-Transfer-Fee Credit Cards in May 2023

Do you ever feel as though high interest charges are making it virtually impossible to put a dent in your credit card balance each month — even though you pay at least the minimum amount due? If you’re struggling to pay down your credit card debt, a balance transfer card that offers an interest-free period for a year or longer can bring some relief.

But while these cards can help you save a significant amount on interest charges, be aware that they often charge balance transfer fees of 3% to 5% of each transfer — which can add up to hundreds of dollars, depending on the size of your transfer. If you want to avoid balance transfer fees altogether, you should consider one of the cards below — each of which offers a $0 balance transfer fee, a $0 annual fee and an intro APR for a year or longer.

 

Best Balance Transfer Credit Cards with No Fee in May 2023

Best overall

Choice Rewards World Mastercard®

Low ongoing APR

Navy Federal Platinum Credit Card

Transferring a balance at anytime

Wings Visa Platinum Credit Card

Business owners

Edward Jones Business Plus MasterCard Credit Card

Best For

Winner: Balance transfer credit card with no fee

Choice Rewards World Mastercard®

 Introductory APR

N/A

Annual Fee $0

Regular Purchase APR

13% to 18.00%

Intro APR on balance transfers: 0.00% introductory APR for the first twelve billing cycles on balances transferred during the first 90 days after account opening. Once the intro period ends, a reasonable APR of 13% to 18.00% applies.

Maximum balance transfer amount: You can transfer up to the amount of your Choice Rewards World Mastercard® credit limit.

Balance transfer window: You can receive the promotional APR on balance transfers requested within the first 90 days of account opening.

Why we chose this card: This card is a great option because — along with a $0 balance transfer fee — it charges a $0 annual fee and offers rewards for every purchase you make. Plus, if you can’t pay off your transferred balance within the 12-month promotional period, there’s a very reasonable ongoing APR that follows. Note, however, that balance transfers won’t earn rewards.

If you think you may need longer than the typical 60-day-window to complete your balance transfer, the Choice Rewards World Mastercard® is ideal, since it allows new cardholders to transfer balances within the first 90 days of account opening. And if you want to earn rewards on every purchase you make, the $0 annual fee card offers 2 points per $1 spent on groceries, gas, electronics, medical, household goods and telecommunications, and 1 point per $1 spent on everything else. Plus, earn 20,000 bonus points for spending at least $3,000 in first 60 days. Just know that when it comes to balance transfer credit cards, we recommend focusing on paying off your transferred balance within the promotional period, rather than earning rewards. You should also keep in mind that since First Tech FCU is a credit union, membership is required. If you don’t qualify for membership, you can become a member by either joining the Financial Fitness Association for $8 or the Computer History Museum for $15.
  • 0.00% introductory APR for the first twelve billing cycles on balances transferred during the first 90 days after account opening. After, a 13% to 18.00% Variable APR applies to unpaid balance transfers.
  • 20,000 bonus points for spending at least $3,000 in first 60 days.
  • 2 points per $1 spent on groceries, gas, electronics, medical, household good and telecommunications (as determined by MCC)
  • 1 point per $1 spent for everything else.
  • Redemption: Cash, travel, merchandise, events and activities, charitable donations, gift cards.
  • Special bonuses on spending for cardholders with active First Tech Rewards Checking and Savings accounts.

Best For

Low ongoing APR

Navy Federal Platinum Credit Card

 Introductory APR

N/A

Annual Fee $0

Regular Purchase APR

10.74% to 18.00%

Intro APR on balance transfers: 0.99% introductory APR for 12 months* *Applies to balance transfers requested within 60 days of account opening on balance transfers. After the intro period ends, the card will have a 10.74% to 18.00% APR.

Maximum balance transfer amount: You can transfer up to your available credit line — however, no single transfer can exceed $30,000.

Balance transfer window: The introductory APR on balance transfers applies to transfers requested within 60 days of opening your account.

Why we chose this card: Once the intro period on balance transfers ends, you can potentially qualify for one of the lowest ongoing APRs currently available: 10.74% to 18.00% .

If there’s a chance you won’t be able to pay off the transferred balance in full before the introductory period ends, you may want to consider the Navy Federal Platinum Credit Card. That’s because the card comes with the lowest ongoing balance transfer APR of any card listed in this post: 10.74% to 18.00% APR. In addition, the Navy Federal Platinum Credit Card charges a $0 annual fee and a $0 foreign transaction fee. Note, though, to be eligible for this card, you need to be a member of Navy Federal Credit Union; you may qualify if you or one of your family or household members has ties to the armed forces, Department of Defense or National Guard. Learn more about the qualification requirements.
  • Intro 0.99% APR on balance transfers for 12 months. Applies to balance transfers requested within 60 days of account opening (then 10.74% to 18.00%)
  • After the intro period, a 10.74% to 18.00% APR applies
  • No balance transfer fee
  • No annual fee

Best For

Ability to transfer a balance at any time

Wings Visa Platinum Credit Card

 Introductory APR

0.00% Introductory rate is good for the first 12 months from the date that your new credit card account is opened

Annual Fee $0

Regular Purchase APR

12.9% to 18.00% variable APR

Intro APR on balance transfers: 0.00% Introductory rate is good for the first 12 months from the date that your new credit card account is opened; after that, a regular APR of 12.9% to 18.00% (variable) applies.

Maximum balance transfer amount: With the Wings Visa Platinum Credit Card, you can transfer up to the amount of your credit limit.

Balance transfer window: There’s no balance transfer window — this means you can transfer a balance to the card at any time.

Why we chose this card: Because the Wings Visa Platinum Credit Card doesn’t have a balance transfer window, you’re able to transfer an existing balance to the card at any time.

While balance transfer credit cards typically require cardholders to transfer a balance within a given time frame — often 60 days from account opening — to take advantage of the promotional intro APR, the Wings Visa Platinum Credit Card doesn’t have a deadline. And because there’s no balance transfer window, cardholders can transfer a balance at any time. Keep in mind, though, that the intro APR period starts at account opening — so the later you transfer your balance, the less time you’ll have to take advantage of the interest-free period. For example, if you transfer a balance three months after opening your account, you’ll have nine months remaining of your interest-free period. If, however, you transfer your balance after seven months, you’ll have just five months remaining. You’ll also need to become a member of Wings Financial Credit Union to apply for this card. To qualify, you or an immediate family member must work or live in the following areas: An eligible Minnesota or Wisconsin county, the Seattle-Tacoma, Wash. metro area, the Detroit metro area, the Orlando, Fla. metro area or the Atlanta metro area. You’re also eligible if you or an immediate family member is an employee of an airline, a government agency working in the aviation industry or an airport, or if you or an immediate family member is a current Wings member or a member of the Wings Financial Foundation.
  • Easily turn card on or off, set travel notifications or report your card lost or stolen
  • Automated fraud alerts to identify threats faster
  • Access to a variety of offers and deals through Visa

Best For

Business owners

Edward Jones Business Plus MasterCard Credit Card

 Introductory APR

N/A

Annual Fee $0

Regular Purchase APR

19.99%–29.99%

Intro APR on balance transfers: 0% introductory APR for the first 12 billing cycles for balances transferred within 60 days from account opening. After that, an APR of 19.99%–29.99% applies.

Maximum balance transfer amount: Cardholders can transfer up to the amount of their approved credit limit.

Balance transfer window: To be eligible for the introductory balance transfer APR and balance transfer fee, your balance has to be transferred within the first 60 days of opening your account.

Why we chose this card: While there are some business credit cards available that offer intro APRs on balance transfers, the Edward Jones Business Plus MasterCard Credit Card may be the only one that doesn’t charge a balance transfer fee.

If you’re a business owner who needs some breathing room to pay off high interest credit card debt, the Edward Jones Business Plus MasterCard Credit Card could be a good fit, since it offers an introductory APR on balance transfers for a year. Cardholders also earn 1.5 Loyalty Points on every net $1 spent up to $40,000 and 2 Loyalty Points on every net $1 spent over $40,000. Plus, earn 15,000 loyalty points after you spend $1,000 in the first 90 days of account opening. The Edward Jones Business Plus MasterCard Credit Card comes with a $0 annual fee. The card also has a $0 foreign transaction fee. Note, the Edward Jones Business Plus MasterCard Credit Card is available to current Edward Jones customers. To apply, you can either ask your Edward Jones financial advisor, or log in your account and visit the Loans & Credit section under the Accounts tab.
  • Earn 1.5 Loyalty Points on every net $1 spent up to $40,000 and 2 Loyalty Points on every net $1 spent over $40,000.  Redeem them for cash back, travel, gift cards, charitable donations or cash deposits directly into an Edward Jones account.
  • Scoreboard Online Reporting – to help you track and manage business expenses.
  • Have the support and personalised service of your Edward Jones financial advisor.

Consider a card that charges balance transfer fees

Picking a card with no balance transfer fee can help you save money on the front end of your journey out of debt, but it could be worth your while to choose a card that does charge a balance transfer fee. That’s because these cards usually offer considerably longer intro APR periods — which can save you even more money on interest charges and easily offset the cost of the balance transfer fee.

As you compare the best balance transfer cards that do charge balance transfer fees, look for options that offer interest-free periods on balance transfers of a year and a half (or longer), no annual fees or hidden fees and cardholder benefits you can use.

Citi® Diamond Preferred® Card

 Introductory APR

0% for 12 months on Purchases

Annual Fee $0

Regular Purchase APR

17.99% – 28.74% (Variable)

Intro APR on balance transfers: Intro APR of 0% for 21 months on Balance Transfers;  after that, an APR of 17.99% – 28.74% (Variable) applies.

Balance transfer fee: Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.

Why we chose this card: The Citi® Diamond Preferred® Card offers one of the longest interest-free periods currently available for a balance transfer. Cardholders receive an intro APR of 0% for 21 months on Balance Transfers, while an APR of 17.99% – 28.74% (Variable) applies afterward.

If you need an extremely long time to pay off your transferred balance, you should consider the Citi® Diamond Preferred® Card . This no-frills card is designed for those with excellent/good credit and offers an intro APR on balance transfers for nearly two years. The $0 annual fee card also comes with an intro APR of 0% for 12 months on purchases (after that, a 17.99% – 28.74% (variable) APR applies).
  • 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 17.99% – 28.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
  • Get free access to your FICO® Score online.
  • With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.

Wells Fargo Reflect® Card

 Introductory APR

0% intro APR 21 months from account opening

Annual Fee $0

Regular Purchase APR

17.99% – 29.99% variable APR

Intro APR on balance transfers: 0% intro APR for 21 months from account opening on qualifying balance transfers. After that, 17.99% – 29.99% variable APR applies.

Balance transfer fee: 5%; min: $5

Why we chose this card: Similar to the Citi® Diamond Preferred® Card, the Wells Fargo Reflect® Card offers an intro APR on balance transfers for close to two years.

With the Wells Fargo Reflect® Card, you can receive a 0% intro APR for 21 months from account opening on qualifying balance transfers, then 17.99% – 29.99% variable APR. Plus, this $0 annual fee card comes with a 0% intro APR 21 months from account opening on purchases (a 17.99% – 29.99% variable APR applies afterward).
  • 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.99% to 29.99% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min $5.
  • $0 Annual Fee
  • Get up to $600 of cell phone protection against damage or theft when you pay your monthly cell phone bill with your eligible Wells Fargo card (subject to a $25 deductible).
  • Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It’s an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.
  • Select “Apply Now” to learn more about the product features, terms and conditions

Citi Simplicity® Card

 Introductory APR

0% for 12 months on Purchases

Annual Fee $0

Regular Purchase APR

18.99% – 29.74% (Variable)

Intro APR on balance transfers: Intro APR of 0% for 21 months on Balance Transfers; after that, a 18.99% – 29.74% (Variable) APR applies.

Balance transfer fee: There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. Then a balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.

Why we chose this card: Citi Simplicity® Card also offers an exceptionally long intro APR of 0% for 21 months on Balance Transfers, with a 18.99% – 29.74% (Variable) APR applying afterward.

The $0 annual fee Citi Simplicity® Card doesn’t assess late fees or a penalty APR if you pay your bill late. This can be a huge relief if you accidentally miss your bill due date — still, we recommend always paying your bill on time. The card also offers an intro APR of 0% for 12 months on purchases, then an APR of 18.99% – 29.74% (variable). Just know, however, that the Citi Simplicity® Card doesn’t come with a rewards program.
  • No Late Fees, No Penalty Rate, and No Annual Fee… Ever
  • 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 18.99% – 29.74%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
  • There is an introductory balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater for balances transfers completed within 4 months of account opening.
  • Stay protected with Citi® Quick Lock

What is a balance transfer credit card?

If you’re feeling stressed or overwhelmed about the amount of credit card debt you’re currently carrying, a balance transfer card can help bring some relief. Balance transfer credit cards offer 0% introductory APR periods on balance transfers ranging from six months to over a year. This means they allow every penny of your monthly payments to go toward the balance during the promotional interest-free period instead of the balance plus interest charges.

Plus, as an added bonus, a few of these cards don’t charge balance transfer fees (typically 3% to 5% of the amount of each transfer). For context, if you transfer a balance of $15,000, this could save you upwards of $750.

There are a few things to look out for when it comes to choosing a balance transfer credit card. In addition to selecting a card with no or a low balance transfer fee, you’ll also want to do your best to pay off the total amount of the transfer within the promotional time period. Any balance remaining after the promotional period ends will be subject to the card’s ongoing APR.

What is a balance transfer fee?

Most balance transfer credit cards charge a fee each time you transfer a balance to the card — this is known as the balance transfer fee. Balance transfer fees are typically 3% or 5% of the amount of each transfer (with a minimum fee of either $5 or $10).

When you transfer an existing balance to a card that charges a balance transfer fee, the fee will be added to the card balance at the time of the transfer. So instead of paying the balance transfer fee in full upfront, you can pay it off over time as you pay down your transferred balance.

You should also know that the amount of the balance transfer fee will reduce the amount you’re allowed to transfer. For example, let’s say you’re approved to transfer $5,000 to a card with a 3% balance transfer fee. The balance transfer fee of $150 ($5,000 x 3% = $150) will lower the amount you’re initially able to transfer to $4,850 ($5,000 – $150 = $4,850).

With that in mind, you’ll want to make sure the amount you’re eligible to transfer to your new card is high enough to accommodate your existing credit card debt as well as the balance transfer fee.

How to calculate a balance transfer fee

Calculating how much a balance transfer fee will cost you is pretty straightforward. Simply multiply the amount you plan to transfer by the balance transfer fee. For example, if you want to transfer a $10,000 balance to a card that charges a 5% balance transfer fee, the fee will equal $500 ($10,000 x 5% = $500).

As mentioned earlier, the balance transfer fee will be subtracted from the initial amount you’re allowed to transfer — reducing that amount to $9,500 ($10,000 – $500 = $9,500).

Pros and cons of rewards credit cards

Pros

  • Transfer a balance interest-free for an extended period of time
  • Ability to consolidate your credit card debt
  • No collateral requirements
  • Possibility of earning rewards on the purchases you make with the card

Cons

  • Possible high interest rate after intro APR period ends
  • Risk of adding more debt to zeroed out cards
  • High credit limits are not guaranteed
  • Good to excellent credit generally required for approval

Is a credit card with no balance transfer fee right for you?

If you’re not able to pay your credit card balance in full every month, it can be frustrating to see your hard-earned money go toward interest charges in addition to your balance — especially when the average APR on new credit cards is 23.98%, according to a recent study by LendingTree.

It may seem counterintuitive to open another credit card when you’re trying to get out of debt — though if you crunch the numbers, you’ll likely find that a no-fee balance transfer credit card with an introductory 0% APR period is an excellent tool to tackle high-interest debt.

That said, we recommend you don’t use your balance transfer card for new purchases until after the transferred balance is paid off — the main goal of the card should be to eliminate the entire transferred amount before the promotional period ends, and not add more debt.

Plus, it’s a good idea to create a budget to pay off your debt before the introductory period ends. You can do this by calculating the amount you need to pay each month until the promotional period ends and setting up automatic payments.

Methodology: How we chose the best balance transfer credit cards with no fee

To select the best card for each of these categories, our credit card experts compared balance transfer credit cards on LendingTree.com and on major issuer and credit union sites. We should note the following — while the number of credit cards that offer 0% intro APRs on balance transfers is currently very limited, the amount of balance transfer cards that charge a $0 balance transfer fee is even lower. We chose our top picks primarily based on factors such as the balance transfer fee, the length of the intro APR on balance transfers, the length of the transfer window and the ongoing APR once the promotional balance transfer offer ends. Other factors that come into play when making our selection may include the annual fee, the rewards program and benefits offered by the card, like purchase protection and extended warranty.