No Fee Credit Card Offers
No Fee Credit Card
We've already established that 0 balance transfer
credit cards are an excellent way to get free credit, by transferring existing debt from one card to another.
You're also aware of the fact that credit card companies will seduce you with rewards and incentives/cashback schemes to get you to spend on 0 balance transfer credit cards; something
you should never do if you want to preserve the gains you will make from any cheap credit card balance transfer. This is unless of course, you accept a credit card offer that enables you to balance transfer and spend on the same card at the same low rate.
So what other possible balance transfer charges or credit card fees should you concern yourself with? Firstly, you should be aware that there may often be hidden costs associated with some no fee credit card offers or even 0% balance transfer credit cards? This article aims to give you an insight
into a few of the most popular credit card advertisements that often claim to be offering no fee credit card deals.
These typically include:
No fee credit card
No annual fee credit card
No balance transfer fee credit card
Credit cards with 0 balance transfer Uk
Credit card with transfer fee
There would appear to be a number of credit card credit products with the enticing no fee offers. Be cautious however and don't assume that just because a product is labelled as a no fee credit card at 0%, it has no balance transfer fee or will
not incur you interest charges in some other way.
The ultimate credit card no fee product is essentially a 0% balance transfer credit card with no annual fee or charges for the privilege of transferring your balance to another card. It is
important to bear in mind that the promise of No APR does not mean you will not incur balance transfer charges or interest either. So be sure to check carefully and read the small print before signing up for credit cards without fees or any other no transfer fee credit card offer for that matter.
No Transfer Fee Credit
Card
The no balance transfer fee credit card became such an in demand product that credit card companies - fearful of financial losses from these products, pulled the plug on them. With
the rising volume of demand for these fee-free balance transfers, not to mention the increasing number of bad credit card debt, credit card companies decided to introduce the balance transfer charge also known as the balance transfer fee, in a bid to curtail their losses.
Although a no transfer fee credit card might appear to be a thing of the past, there are still some around. Credit card credit companies that are offering a combined 0 balance transfer Uk and no fee credit card deals are:
Ulster Bank with a balance transfer period of 6 months
Northern Bank (Northern Ireland) - 5 month 0 interest balance transfer
Britannia BS Classic Intro Visa
Britannia BS Platinum Intro Visa
Sainsbury's Bank Advantage Visa
CitiBusiness PremierPass Card
RBS Bank - Custom Cash Visa
Visa Platinum Plus (6 months)
Be sure to do your own research on the above credit card offers
however, since these are liable to frequent change. You can search using the above terms to find current offers and exactly what you want.
Balance Transfer Fee Credit Card
With the scarce supply of the no fee credit card/fee free balance transfer credit cards, the majority of credit card companies are now charging balance transfer fees on 0% balance transfer credit cards. This is for the specific purpose of recouping some of their losses/bad debt on the previous no balance transfer fee credit card products.
The credit card no fee product (which incidentally include credit
cards with no transfer fee as well as no annual fee credit cards)
would now appear to be a thing of the past, although if you happen to have a good credit card history, you will more than likely secure a no fees credit card deal from the few that are still around.
If you plan on taking out a 0 balance transfer credit card offer, the chances are that you will be expected to forego a percentage of the gain you will make from the 0% balance transfer. At a minimum, expect to pay from 3% upwards to the credit card company, by way of a balance transfer charge.
As you can see, just because a product claims to be a
no balance transfer fee credit card, does not automatically mean it is also a no annual fee credit card that will not incur you charges. A no fee credit card in the real sense of the word, will not cost you balance transfer charges or any other hidden fees.
Whatever credit card credit product you decide on, always be sure
to read the small print, to be sure of exactly what you are signing
in agreement to.
The content on this site is purely for information purposes only and is not intended to replace your seeking professional financial advice.
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