Looking for a CC with NO transfer fee and 0% APR...

[E equals MC2]

I have about $5K to transfer as my current CC's 0% promotion is running out.

The ones I've gotten are 3% transfer fee, no maximum. That's $150.

I have a great credit score (710). Help me find one please. Thanks.

 

[wedi42]

http://www.bettercreditcard.com/

 

[SoulAssassin]

http://www.app-o-rama.com/apr.htm

 

[pontifex]

doesn't doing this hurt your credit rating?

 

[zoiks]

They even have a balance transfer fee now?

 

[Ns1]

They usually do have a transfer fee, and you gotta figure the 150 cost is going to be way less than interest on 5k

That said, the ones I get from Chase/Sonycard cap at 75.

 

[CasioTech]

I think sonystyle offers 0% for first year.

 

[zoiks]

Originally posted by: pontifex
doesn't doing this hurt your credit rating?

Opening another credit card does affect credit ratings but its minimal and you regain the rating in a few months.
Closing the old credit card however can have a much higher negative affect on your rating. I suggest to the OP that if he transfers his balance to a new card, that he does not close the old account.

 

[pontifex]

Originally posted by: NeuroSynapsis
They usually do have a transfer fee, and you gotta figure the 150 cost is going to be way less than interest on 5k

That said, the ones I get from Chase/Sonycard cap at 75.

got one for Chase MC that was 3% but capped at $99. Minimum was like $5

 

[Gabornski]

My capital one did that but it was an offer I got in the mail.

G

 

[dullard]

Originally posted by: zoiks
They even have a balance transfer fee now?

Balance transfer fees have been around for years. Luckilly, there have always been cards without them. If you ever do transfer a balance, be careful. There can be a fee to transfer IN and another fee to transfer OUT. Typically, the fee is 3% with a cap. But in the last year the caps have often disappeared from new cards. So in a bad scenario, you'll pay 3% to transfer out and 3% to transfer in, for a total of $300 on that $5000 balance.

If you do that bad transfer, you'll need to invest at >6% (6% of $5k in a year is $300) to make any money on this deal. Since that investment is taxable, you really need a 8%+ investment to break even. And now, you can see that the 0% credit card idea can have serious flaws if you happen to get cards with balance transfer fees.

Even if you don't have balance transfer fees, using credit cards at 0% can hurt you. You might not get a job, an apartment, etc. You might pay more for insurance and other items. ATOT's own example (one of several). And then you could potentially pay more for loans and mortgages.

Play your cards right (bad pun), and you can make a little bit of money with 0% credit cards. Play them wrong, and you'll lose big time. You may lose even if you THINK you are gaining (because you often won't know you are paying more for insurance or that you were rejected from your job application). Plus, with the credit crunch that is happening now, 0% cards MAY be going the way of the dodo bird, so you might get stuck with a massive bill and no where to transfer it.

 

[thepd7]

Originally posted by: dullard

Originally posted by: zoiks
They even have a balance transfer fee now?

Balance transfer fees have been around for years. Luckilly, there have always been cards without them. If you ever do transfer a balance, be careful. There can be a fee to transfer IN and another fee to transfer OUT. Typically, the fee is 3% with a cap. But in the last year the caps have often disappeared from new cards. So in a bad scenario, you'll pay 3% to transfer out and 3% to transfer in, for a total of $300 on that $5000 balance.

If you do that bad transfer, you'll need to invest at >6% (6% of $5k in a year is $300) to make any money on this deal. Since that investment is taxable, you really need a 8%+ investment to break even. And now, you can see that the 0% credit card idea can have serious flaws if you happen to get cards with balance transfer fees.

Even if you don't have balance transfer fees, using credit cards at 0% can hurt you. You might not get a job, an apartment, etc. You might pay more for insurance and other items. ATOT's own example (one of several). And then you could potentially pay more for loans and mortgages.

Play your cards right (bad pun), and you can make a little bit of money with 0% credit cards. Play them wrong, and you'll lose big time. You may lose even if you THINK you are gaining (because you often won't know you are paying more for insurance or that you were rejected from your job application). Plus, with the credit crunch that is happening now, 0% cards MAY be going the way of the dodo bird, so you might get stuck with a massive bill and no where to transfer it.

sound advice. I was doing this for a while (carrying a $1k balance on no interest and finding a way to invest to money for a year or so). I finally decided I might make $50-$100 but then I might spend the money on something else then not be able to come up with $1k when the 0% is up, so I just paid it all off.

 

[Strk]

This one has a $50 cap. There seems to be a shortage of cards with no fee at the moment. I'd just keep an eye out for offers in the mail. I've gotten a few offers that have had 0% and no fees on them.

 

[RossMAN]

Originally posted by: E equals MC2
I have about $5K to transfer as my current CC's 0% promotion is running out.

The ones I've gotten are 3% transfer fee, no maximum. That's $150.

Found one :thumbsup:

Citi® Home Rebate Platinum Select® MasterCard
6% rebate on utilities, TV, internet, telecom for 6 months
1% rebate on all other purchases
No cap on amount of rebates you can accumulate each year
Rebates credited to your account or applied to mortgage principal
0% APR on new balance transfers for up to 12 months
No annual fee
The transaction fee for balance transfers is 3.0% of the amount of each balance transfer, but not less than $5 minimum, $75 maximum. However, there is no balance transfer transaction fee on balances you transfer in response to this offer. The membership fee is $0.

Here are two others with lower BT fee caps:

Citi Professional Cash Card:
3% cash back at restaurants, gas stations, office supply stores, auto rentals
1% cash back on all other purchases
24/7 personal business assistant to arrange dining, travel, entertainment
Online expense organizer for client billing or tax purposes
0% APR on new balance transfers for up to 12 months
No annual fee
Balance transfer fee: 3.00% of amount of each balance transfer, $5.00 minimum, $50 maximum, but waived with this offer.

Citi® Driver's Edge Platinum® Mastercard
6% rebate on gas, supermarket & drugstore purchases for first 12 months
3% rebate on gas, supermarket & drugstore purchases thereafter
1% rebate on all other purchases
Use rebates toward purchase of vehicle or merchandise
0% APR on new balance transfers for first 12 months
No annual fee
The transaction fee for balance transfers is 3.0% of the amount of each balance transfer, $5 minimum, $75 maximum.