Transfer Credit Card Balance No Interest

Are you looking to transfer credit card balance no interest? We all don’t like to pay interest and want to finish the debt as soon as possible and that is why we all want to transfer our balance to enjoy the benefit of No interest period.

But my friend let me warn you that if you don’t pay your monthly balance on time, then you may end up paying more than what you were paying with the previous card issuer after balance transfer. So first of all, change your habit before jumping into some other offer of credit card.

It is really good for people who can manage their expenses and put maximum money into paying their debts every month on time within the zero Interest-free period. Sometimes, when we shift to some other card issuer, their regular interest apr could be more than the previous card company.

So before you make any steps to transfer credit card balance no interest, you must check all these following credit cards to choose from according to your desire and preferences.

Best Transfer Credit Card Balance with No Interest

Best For Travel: Discover it® Miles

Best for ongoing use after payoff: Citi® Double Cash Card

Best 0% intro APR Period: Citi Simplicity® Card

Best for Fair Credit: Chase Slate®

Best Rewards & Balance Transfer Card: The Amex EveryDay® Credit Card from American Express

Let’s first clearly understand, what is a Balance Transfer Card?

So first of all, do you have any balance on your credit card? If yes, then how much money you are paying as interest?

Now if you get the chance to not pay the interest and only the principle amount, wouldn’t you do that? So that’s where these balance transfer card comes into the picture. You may be juggling between your multiple payments every month to payoff your credit card debt, but now you can easily transfer your balance to single credit card from high-interest card and payoff your debt without any interest.

These balance transfer card will now allow you to pay your principle money without charging any kind of interest or apr for some limited period of time and that time is called interest-free period or 0% Intro APR Interest. The best tip I can give you right now is just pay off all your principle amount within this zero interest free period as you may not want to pay additional money to the credit card company just because you are paying later.

Convert your monthly payment into maximum amount and control your expenses for few months until you finish off your whole balance without paying any extra interest.

What you should know before choosing any No Interest Transfer Balance Credit Card?

First, You may not transfer all of your debt and it will also depend on how much debt you are carrying

You cannot easily qualify for balance transfer card because in most of the cases, you will need at least good to excellent credit score.

You may get some relief from high interest rate through balance transfer card but your debt will not disappear. You will need to make a budget and payment plan to clear all of your debt within the limited time period given in promotion which is an interest-free period.

There will be a default transfer fee of 3% on the amount of balance transfer.

There are some technical things that you may need to understand in transferring credit card balance no interest. The promotional rate i.e. the introductory interest rate which can be very low or nil and the promotional period are two different things. Sometimes the promotional rate is not available for full promotional period so you need to check that also.

 

Best Rewards & Balance Transfer Card: The Amex EveryDay® Credit Card from American Express

By Transfer Credit Card Balance No Interest, we mean that just simply transferring the credit card balance from One Card to another Card with 0 Interest Introductory Period.

If we get some additional benefits with such Balance Transfer Card, wouldn’t that be amazing? If we can also get rewards for our daily everyday purchases, it will be really awesome combination. There is one card that can provide you both benefits of balance transfer and rewards and that is the Amex EveryDay® Credit Card from American Express.

With this card, you can get double points per dollar for every purchases at U.S. Supermarkets. But you can receive two points per one dollar up to $6000 and after that it will be one point every dollar. The Intro Promotional Period is for 15 months on both purchases and balance transfers. The introductory rate will be 0% intro apr but after promotional period till become 14.74% to 25.74% Variable APR.

What is good about this Balance Transfer Card?

The ability to make points with Amex EveryDay® Credit Card from American Express Balance Transfer Card is amazing to use it for everyday purchases. In this way, you will be able to not only pay debt without interest but will also be earning some additional money in form of reward points for everyday spending.

It is giving you Two points on every dollar spent up to $6000 and one point per dollar after that on your purchases at U.S.A. supermarket.

Another best part about this card is that, it will also give you Joining Bonus Membership Rewards Points of 10,000 when you spend atleast $1,000 from your new card within 3 months of account opening.

All of these benefits you will be getting even without paying any annual fee.

Demerits

There is a Foreign Transaction Fee of 2.7% on every purchases you make in abroad and it is not the best card for you when it comes to traveling overseas.

Second thing, it doesn’t consider all the grocery stores as supermarkets such as Costco, Target or a corner store and you will be earning only one point per 1 dollar in those stores.

How to use Amex EveryDay® Credit Card from American Express Balance Transfer Card?

First of all, You will need to act quickly to take full advantage of this balance transfer card. After opening your account, you will only have 60 days to request for your balance transfer which will have the zero percent intro Apr. If you request for balance transfer after that then you will need to pay the regular interest of 14.74 – 25.74% Variable Apr.

Second, This card has one of the best achievable target of $1000 to receive joining bonus of 10,000 Membership Rewards Points within first three months.

Best 0% intro APR Period: Citi Simplicity® Card

Best For Travel: Discover it® Miles

Best for ongoing use after payoff: Citi® Double Cash Card

Best for Fair Credit: Chase Slate®

 

Resource Link: https://www.creditkarma.com/credit-cards/i/best-balance-transfer-cards/

 

 

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