Looking to consolidate your debt? Here's CNBCselect's list of the best no-fee balance transfer cards.
If you're a student in debt, it can be hard to find a balance transfer credit card that has both an intro 0% APR period and an intro $0 balance transfer fee. The BankAmericard® Credit Card for Students offers both a 0% APR for the first 15 billing cycles on balance transfers and an intro $0 balance transfer fee for the first 60 days your account is open. After that, 3% .
There is no penalty APR, which means if you pay late, your APR won't rise. However, we recommend always paying on time and in full to avoid interest charges and fees.To determine which credit cards offer the best no-fee balance transfer deals, CNBC Select analyzed the most popular credit cards offered by the biggest banks, financial companies, and credit unions that allow anyone to join.
If the average consumer with a $6,028 balance on their credit card pays $200 each month, they will spend $1,884 in additional interest, assuming the average 16.97% APR, according to theWith four of the five cards featured on this list, if you take full advantage of the intro APR period and pay $200 per month, you'll pay less than $450 in interest and cut your repayment time to roughly 31 months. That's a significant savings.
CNBC Select used this budget to estimate how much the average consumer would save over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases. All rewards total estimations are net the annual fee.
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