9 Best 0% APR Credit Card Offers – February 2018
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. At MagnifyMoney we like to find deals no one else is showing, and we’ve searched … Continue reading 9 Best 0% APR Credit Card Offers – February 2018The post 9 Best 0% APR Credit Card Offers – February 2018 appeared first on MagnifyMoney.
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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 one 0% APR credit card doesn’t give you a big enough credit line you can try another bank or credit union for the rest of your debt. With several no fee options it’s not hard to avoid transfer fees even if you have a large balance to deal with.
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2. Chase Slate® – 0% Introductory APR for 15 months, $0 Introductory Balance Transfer FEE
This deal is easy to find – Chase is one of the biggest banks and makes this credit card deal well known. Save with a $0 introductory balance transfer fee and get 0% introductory APR for 15 months on purchases and balance transfers, and $0 annual fee. Plus, see monthly updates to your FICO® Score and the reasons behind your score for free.
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.
3. BankAmericard® Credit Card – 0% Introductory APR for 15 billing cycles, $0 Introductory Balance Transfer FEE
This card is available if you have excellent credit. There is a $0 intro balance transfer fee if you complete the transfer within 60 days of opening your account.
Bank of America has just recently launched a balance transfer with no intro balance transfer fee. Credit card debt on an existing Bank of America credit card is not eligible for this offer.
4. Alliant Credit Union Credit Cards – 0% Introductory APR for 12 months, NO FEE
Alliant is an easy credit union to work with because you don’t have to be a member to apply and find out if you qualify for the 0% Introductory APR deal (after the introductory period, a low standard variable APR applies, ranging from 10.49%–22.49%).
Just choose ‘Apply as New Member’ when you apply and if you are approved you’ll then be able to become a member of the credit union to finish opening your account.
Anyone can become a member of Alliant by making a $10 donation to Foster Care to Success.
If your credit isn’t great, you might not get a 0% intro rate – rates for transfers are as high as 5.99%, so make sure you double check the rate you receive before opening the account, and they might ask for additional documents like your pay stubs to verify the information on your application.
5. Wings Financial Credit Union – 0% Intro APR for 12 months, NO FEE
Anyone can join Wings Financial Credit Union by becoming a member of the Wings Financial Foundation with a $5 donation. WFCU offers 0% intro APR for 12 months on balance transfers and purchases with no balance transfer fee for both their Wings Financial Visa Signature Card and Wings Financial Visa Platinum Card. The Wings Financial Visa Signature Card has a regular purchase APR as low as 13.95% – 18.00% variable and the Wings Financial Visa Platinum Card is as low as 7.90% – 17.70% variable APR. An added benefit of the Wings Financial Visa Signature Card is 1% cash back rewards with 2% for first 3 months.
6. Edward Jones World MasterCard – 0% Intro APR for 12 months on Balance Transfers through 4/30/2018, NO FEE
You’ll need to go to an Edward Jones branch to open up an account first if you want this deal. Edward Jones is an investment advisory company, so they’ll want to have a conversation about your retirement needs. But you don’t need to have money in stocks to be a customer of Edward Jones and try to get this card. Just beware that you only have 60 days to complete your transfer to lock in the 0% introductory rate. This deal expires 4/30/2018.
7. First Tech Choice Rewards – 0% Intro APR on Balance Transfers for 12 months, NO FEE
Anyone can join First Tech Federal Credit Union by becoming a member of the Financial Fitness Association for $8, or the Computer History Museum for $15. You can apply for the card without joining first. This introductory 0% for 12 months on balance transfers and no transfer fee on balances transferred within first 90 days of account opening is for the First Tech Choice Rewards World MasterCard. You also get 20,000 Rewards Points after you spend $3,000 on the card in your first 2 months.
8. La Capitol Federal Credit Union – 0% Intro APR on Balance Transfers for 12 months, NO FEE
Anyone can join La Capitol Federal Credit Union by becoming a member of the Louisiana Association for Personal Financial Achievement, which costs $20. Just indicate that’s how you want to be eligible when you apply for the card – no need to join before you apply. And La Capitol accepts members from all across the country, so you don’t have to live in Louisiana to take advantage of this deal on the Prime Plus card. The introductory 0% for 12 months on balance transfers applies to balances transferred within first 90 days of account opening.
9. Purdue Federal Credit Union – 0% Intro APR for 12 months, NO FEE
This deal is only for their Visa Signature card – other cards have a higher intro rate. The Purdue Federal Credit Union doesn’t have open membership, but one way to be eligible for credit union membership is to join the Purdue University Alumni Association as a Friend of the University.
Anyone can join the association, but it costs $50. The good news is you can apply and get a decision before you become a member of the Alumni Association.
10. Logix Credit Union Credit Card – 0% APR for 12 months , NO FEE
11. Navy Federal Credit Card – 0% Intro APR on Balance Transfers for 12 months through 2/28/2018, NO FEE
12. Premier America Credit Union – 0% Intro APR for 6 months, NO FEE
Premier America is unique because it has a Student Mastercard® that’s eligible for the balance transfer deal, though limits on that card are $500 – $2,000. There’s also a card for those with no credit history – the Premier First Rewards Privileges®, with limits of $1,000 – $2,000. If you’re looking for a bigger line, the Premier Privileges Rewards Mastercard® is available with limits up to $50,000.
Anyone can join Premier America by becoming a member of the Alliance for the Arts. You can select that option when you apply.
Other 0% Intro APR cards to consider
13. Money One Credit Union – 0% Intro APR for 6 months, NO FEE
Anyone can join Money One Federal by making a $20 donation to Gifts of Easter Seals. And you can apply without being a member. You’ll see a drop down option during the application process that lets you select Gifts of Easter Seals as the way you plan to become a member of the credit union. Credit lines for the Visa Platinum card are as high as $25,000.
14. Andigo Credit Union – 0% Intro APR for 6 months, NO FEE
You’ll have a choice to apply for the Andigo Visa Platinum or Visa Platinum Rewards. The Visa Platinum Cash Back card doesn’t have this deal. The Visa Platinum without rewards has a lower ongoing APR, starting as low as 10.99%, compared to 12.90% for the Visa Platinum Rewards card, so if you’re not sure you’ll pay it all off in 6 months the Platinum without rewards is a better bet.
Anyone can join Andigo by making a donation to Connect Vets for $15, and you can submit an application for the card without being a member yet.
15. Evansville Teachers Credit Union – 0% Intro APR for first 6 months on Balance Transfers, NO FEE
You don’t need to be a teacher to join this credit union. Just make a $5 donation to Mater Dei Friends & Alumni Association. The Prime Plus has an ongoing rate as low as 7.25% variable, so you can enjoy a low rate even after the intro deal ends.
16. Elements Financial Credit Card – 0% Intro APR for 6 months on Purchases and Balance Transfers, NO FEE
To become a member and apply, you’ll just need to join TruDirection, a financial literacy organization. It costs just $5 and you can join as part of the application process. The ongoing rate is 10.24% variable which is lower than typical cards.
17. Justice Federal Credit Union – 0% Intro APR for 6 months on Purchases, Balance Transfers, and Cash Advances, NO FEE
You can apply as a non-member online to get a decision before joining. And Justice is unique in that its Student credit card is also eligible for the 0% introductory rate on purchases, balance transfers, and cash advances, so if your credit history is limited and you’re trying to deal with a balance on your very first card, this could be an option.
18. XCEL Platinum Visa – 0% Intro APR for 6 months, NO FEE
Anyone can join Xcel by becoming a member of the American Consumer Council, and you can apply for the card as a non-member of the credit union, but not everyone who is approved for the card will get the low intro rate. Xcel advises you contact them to get as sense of whether your income, credit history, and employment history will qualify for the intro rate.
19. Michigan State University Federal Platinum Visa – 0% Intro APR for 6 months, NO FEE
There is the option to apply for the Platinum Plus Visa or the Platinum Visa. The Platinum Visa has a lower ongoing APR starting as low as 8.9%, compared to the 12.9% for the Platinum Plus which can earn you rewards. Anyone can join the Michigan State University Federal Credit Union by first becoming a member of the Michigan United Conservation Clubs. However, this comes at a high fee of $30 for one year.
Are these the best deals for you?
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 good news is we can figure it out for you.
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. You are only ready to do a balance transfer once you’ve gotten your budget in order and are no longer spending more than you earn. This card should never be used for new purchases, as it’s possible you’ll get charged a higher rate on those purchases.
- Have a plan for the end of the promotional period. Make sure you set a reminder on your phone calendar about a month or so before your promotional period ends so you can shop around for a low rate from another bank.
- Don’t try to transfer debt between two cards of the same bank. It won’t work. Balance transfer deals are meant to ‘steal’ your balance from a competing bank, not lower your rate from the same bank. So if you have a Chase Freedom® with a high rate, don’t apply for another Chase card like a Chase Slate® and expect you can transfer the balance. Apply for one from another bank.
- Get that transfer done within 60 days. Otherwise your promotional deal may expire unused.
- Never use a card at an ATM. You should never use the card for spending, and getting cash is incredibly expensive. Just don’t do it with this or any credit card.
- Always pay on time. If you pay more than 30 days late your credit will be hurt, your rate may go up, and you may find it harder to find good deals in the future. Only do balance transfers if you’re ready to pay at least the minimum due on time, every time.
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