Making a stability switch to a different bank card will be an efficient option to pay down bank card debt. In the event you’re presently paying a variety of curiosity every month on a present stability, it could actually really feel like an uphill battle as you make a cost every month. A stability switch choice can assist you to 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.
Nonetheless, transferring a stability to a different bank card typically comes with a stability switch price. This price is normally the larger of $5 or 3% of the switch, however will be as excessive as 5%. For instance, should you switch a $10,000 stability, the switch price alone may price $300-$500.
Fortunately, there are just a few bank cards that supply stability transfers with no charges. A few of these additionally supply a 0% APR interval, however even when they do not, a decrease APR bank card can nonetheless considerably cut back the sum of money you pay in curiosity every month, serving to you repay your debt sooner. These are the most effective bank cards with no stability switch price.
Navy Federal cashRewards Credit score Card
This Navy Federal cashRewards Credit score Card options has no stability switch price, no annual price, and no international transaction charges. It additionally presents 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 price, annual price, or international transaction price. 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 a part of for a one-time price.
Information concerning 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 chargeable for their accuracy.
