Q: I want to transfer my balance from my American Express card to a credit card with NO balance transfer fee. Which cards offer this?
A: Although there are many Balance Transfer credit cards out there, most will charge a fee to transfer your balance. This fee typically ranges from 3% to 5% of the balance you're moving, which can definitely add up if you're transferring a large dollar amount. However, there is one great card that features a 0% intro APR and no balance transfer fees:
Chase SlateSM - No Balance Transfer Fee card. With a 15-month 0% APR on both purchases and balance transfers, this card should please most people. Since there are also NO balance transfer fees, users can transfer their balances from high-APR credit cards onto this card free of charge and pay no interest for 15 months. Plus, new purchases are interest-free for 15 months.
Or, if you're willing to pay a balance transfer fee to reap the benefits of a Balance Transfer card with cash back benefits and a low post-intro APR, take a look at this card:
Discover® More – Balance Transfer card. Featuring a lengthy 18-month 0% APR on balance transfers (but not on purchases) with a balance transfer fee of 3% of the amount of the transfer, this is a great card. Add to it the fact that you earn up to 5% cash back for purchases and you've got yourself another winner. And from October through December of this year cardholders can earn 5% cashback on all online shopping and department store purchases (on up to $1,500 in purchases).
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