Making a stability switch to a different bank card might be an efficient solution to pay down bank card debt. Should you’re presently paying quite a lot of curiosity every month on a present stability, it may really feel like an uphill battle as you make a cost every month. A stability switch possibility can can help you pay down your bank card debt sooner, by providing both a decrease APR (much less curiosity) or perhaps a 0% introductory APRs interval the place you do not have to pay any curiosity throughout a specified time interval.
Nevertheless, transferring a stability to a different bank card usually comes with a stability switch charge. This charge is often the larger of $5 or 3% of the switch, however might be as excessive as 5%. For instance, if you happen to switch a $10,000 stability, the switch charge alone may value $300-$500.
Fortunately, there are a number of bank cards that provide stability transfers with no charges. A few of these additionally provide a 0% APR interval, however even when they do not, a decrease APR bank card can nonetheless considerably cut back the amount of cash you pay in curiosity every month, serving to you repay your debt sooner. These are one of the best bank cards with no stability switch charge.
Navy Federal cashRewards Credit score Card
This Navy Federal cashRewards Credit score Card options has no stability switch charge, no annual charge, and no overseas transaction charges. It additionally gives 1.5% for each greenback spent. Membership is open to present and former service members, DOD civilians, and their households.
PenFed Promise Visa Card
The PenFed Promise Visa Card additionally has no stability switch charge, annual charge, or overseas transaction charge. New cardholders can earn a bonus of $100 assertion credit score after spending $1,500 with the cardboard within the first 90 days. PenFed membership is open to service members and their households, affiliate organizations, and members of Voices for America’s Troops or the Nationwide Navy Household Affiliation, which anybody can be part of for a one-time charge.
Information in regards to the Navy Federal cashRewards Credit score Card and the PenFed Promise Visa Card has been collected independently by Clever Bread. The issuer didn’t present the small print, neither is it liable for their accuracy.
