What Makes The Best Zero Balance Transfer Fee Credit Card?

A zero balance transfer fee is good to have on any credit card. Depending on the other features your card offers, it can turn your swiper into a powerful debt-fighting weapon. Let’s take a look at what makes a good zero balance transfer fee card great.

ZERO BALANCE TRANSFER FEES THAT WORK FOR YOU

With interest rates rising, it’s time to get smart about how and where you pay down outstanding credit card balances. Demand is rising for credit cards that allow you to combine your existing debts in one place.

Cards offering low or zero balance transfer fees make it easier to move your debt to just one place which can help you avoid duplicate fees and charges across several cards. What’s more, paying off one or more credit accounts will more than likely improve your credit score.

However, there are other important card features you should consider if you’re serious about reducing your interest charges and managing your debt. Here are seven things to look for if you want to combine your balances onto a new credit card.

1. LOW OR NO TRANSFER FEES

Consolidating your card debt only makes sense if you are going to pay less—not more—in fees. The first step is to find cards that charge little or no balance transfer fees for carrying over your existing balances. As an introductory offer, many cards offer low or no fees. The GHS Visa Platinum Credit Card allows you zero-fee balance transfers at any time.

2. LOW RATES

A low annual percentage rate (APR) is crucial to reduce interest charges on your combined balance. Cards with low or no introductory rates allow you to get a head start on paying down debt. GHS Federal Credit Union’s Visa Platinum Credit Card combines APRs as low as 7.9% with an introductory six months of 0% financing on purchases.

3. NO ANNUAL FEE

Being smart about credit card debt also means choosing a card with a low fee structure, starting with no annual fee. Choose a card with no annual fee—like the GHS Visa Platinum Credit Card—to maximize the value of your savings and benefits.

4. NO DEFAULT OR PENALTY PRICING

While you’re doing everything you can to keep interest payments down and manage your debt, life is unpredictable. Default rates or other penalties can really set you back if unforeseen circumstances cause you to miss a payment or exceed your limit. GHS Federal Credit Union’s Visa Platinum Credit Card includes no default or penalty pricing.

5. REWARDS

If you’re hoping to combine balances on a single card, it’s worth looking at options that include rewards for your spending and other benefits. As your go-to card, this should ideally include cash-back or rewards for all types of spending through a wide range of vendors.

Visa’s Scorecard reward program, included with the GHC Visa Platinum Credit Card, allows you to earn points and redeem them for in-store discounts, online shopping, and a variety of quality merchandise.

6. FRAUD PROTECTION

Credit card fraud and identity theft are increasingly common, so consolidating your balances onto one card might mean you’re more at risk if that card is compromised. The GHS Visa Platinum Credit Card offers comprehensive fraud protection including a personal password to make it harder for someone else to use your card details online.

7. THE BENEFITS YOU DESERVE

Major credit card companies like Visa provide a host of other benefits with their premium cards, including the GHS Visa Platinum Credit Card. Visa provides holders of its Platinum cards worldwide exclusive benefits including:

  • Access to airport lounges and transportation

  • Discounts at many hotels, restaurants, and retailers

  • Access to private wi-fi networks worldwide

  • Special offers on news and entertainment subscriptions

  • Dedicated concierge and emergency assistance programs

IT PAYS TO BE A MEMBER

GHS Federal Credit Union’s Visa Platinum Credit Card offers the instant recognizability and security of a major credit card combined with the accessibility and personal service you expect from a local credit union.

With a low fixed rate, no annual fee, and a zero balance transfer fee, the GHS Visa Platinum Credit Card offers GHS members an easy way to pay for everyday necessities, as well as a convenient way to cover the costs for the events that make life worth living, like:

  • Wedding expenses

  • Travel or a dream vacation

  • A milestone birthday celebration

The GHS Visa Platinum Credit Card is available only to GHS FCU members, but joining our credit union comes with a host of other benefits, including:

  • Low-cost, personalized financial services

  • Free checking

  • Low rates on personal, auto, and home loans

  • A full range of debit and credit card products

Whether you’re looking to manage your balances better by moving to a quality fixed-rate, low-fee credit card, or are looking for a long-term financial partner, GHS Federal Credit Union has you covered.

APPLY NOW TO GET YOUR CREDIT CARD.


Financial Literacy, Blog Nav, Credit CardLisa YoungFinancial Wellness, Credit Card, Education