3 Credit Cards With No Annual Fees + 0% APR On Purchases + Balance Transfers


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With most airlines paring their routes and schedules to the bare bones or not flying at all right now probably isn’t a time when most people looking to earn a stash of miles and points, but cards with low interest rates, no annual fees and good offers on balance transfers may be useful if you’re looking to save cash until the world returns to some semblance of normality.

There are a variety of credit cards that are currently offering the very tempting combination of…

  • No annual fee
  • 0% interest on balance transfers (for a limited time)
  • 0% interest on new purchases (for a limited time)
  • Lower (than normal) balance transfer fees

…and you’ll find a good selection of them via this link.

I’ve taken a look through the various cards I’ve seen online and picked out 3 that I think are worth considering if you’re looking to reduce costs. This is by no means an exhaustive list of what’s available (do your own research) but, based on the annual fees, the introductory APRs and the earning rates these cards offer, I think these 3 offer a good variety of options.

Chase Freedom Unlimited

Annual Fee:

  • $0 (zero)

Current Welcome Bonus:

  • $150 bonus after spending $500 on the card in the first three months from account opening (find out more)

Introductory APR:

  • 0% APR on balance transfers for the 15 months following account opening
  • 0% APR on purchases for the 15 months following account opening

Balance Transfer Fees:

  • 3% when you transfer during the first 60 days of account opening, with a minimum of $5. Then, either $5 or 5% of the amount of each transfer, whichever is greater.

Earnings:

  • Earn 1.5% cashback on all transactions (no maximum earnings limit)

Why This Is A Good Card

The Freedom Unlimited card doesn’t come with an annual fee and who doesn’t like free stuff?

0% APR on balance transfers and new purchases (for the first 15 months of account opening) is a pretty good deal.

As this card comes with no annual fee, the welcome bonus of $150 is essentially free money…assuming you never pay interest on any balance you hold.

$500 is a low spending requirement to get the welcome bonus.

If a Freedom Unlimited cardholder also holds one of the Chase Sapphire cards, the $150 welcome bonus can be converted to 15,000 Ultimate Rewards points (worth at least $187.50 if used for travel through the Ultimate Rewards Portal) which can be transferred over to a variety of loyalty programs in a 1:1 ratio.

1.5% cashback on all purchases is a good (but not market-leading) rate of cashback which comes in very useful…

    1. If you’re someone who doesn’t want to worry about working out how to get the most out of any miles and points balances
    2. For spending in places which don’t normally attract bonus earnings from other credit cards (e.g drugstores, department stores, clothes stores etc…)

There’s no minimum spending required to earn cashback and the cashback rewards never expire as long as the card is open and in good standing.

The Chase Freedom Unlimited (In Summary)

The Chase Freedom Unlimited Card offers 0% APR on purchases and balance transfers, it comes with no annual fee, it offers 1.5% cashback on all spending and it’s a very simple card to use.

Not only can this card be very useful in times where you need to preserve cash (low fees and APRs) but, in better times, it can also be combined with a more premium card (like the Chase Sapphire Preferred card) to create a great two-card “team’ that can reap rich rewards.


Blue Cash Everyday Card From American Express

Annual fee:

  • $0

Current Welcome Bonus:

  • Receive $150 back in statement credits after you spend $1,000 in the first 3 months after opening your new card (more details)

Introductory APR:

  • 0% APR on balance transfers for the 15 months following account opening
  • 0% APR on purchases for the 15 months following account opening

Balance Transfer Fees:

  • 3% or $5 (whichever is greater).

Earnings:

  • 3% cashback at US supermarkets on up to $6,000 in annual purchases
  • 2% cashback at US gas stations
  • 1% cashback on all other purchases

Key Benefits:

  • Secondary rental car coverage
  • Returns protection

Important To Know:

  • Cashback is earned in the form of reward dollars which can be redeemed as a statement credit.
  • Once you have reached the $6,000/year spending limit at US supermarkets you’ll earn 1% cashback on all US supermarket spending for the rest of the year.
  • Superstores, convenience stores, and warehouse clubs are not considered supermarkets (see here for more details)

Why This Is A Good Card

The Blue Cash Everyday card comes with no annual fee and if you’re looking to save cash not having to pay a credit card annual fee is a big deal.

0% APR on balance transfers and new purchases (for the first 15 months of account opening) is not bad at all.

The 3% balance transfer fee without restriction is one of the better balance transfer fees I’ve seen (most seem to only offer 3% for a limited time after card opening)

As this card comes with no annual fee the $150 welcome bonus is effectively free cash (assuming you never pay interest on any balance you carry).

The Blue Cash Everyday card manages to combine very low fees with solid earnings in two key categories where a lot of people will see significant spending – groceries and gas stations.

With its offer of 2% cashback on department store spending, the Blue Cash Everyday card is one of the few cards that offers department store spending as a bonus category.

The Blue Cash Everyday Card (In Summary)

The Blue Cash Everyday Card is free to hold and offers a very good rate of return for spending made at US supermarkets. As an added bonus it offers 2% cashback at US gas stations and, as with all American Express cards, gives cardholders access to valuable Amex Offers which can save them even more money.

With no points currency to worry about (just pure cashback), no annual fee, a 15-month period of 0% APR on balance transfers and new purchases and cashback on groceries and gas, the Blue Cash Everyday Card would be a good card for someone looking for…

  • A simple card to use
  • Savings on fees currently being paid elsewhere
  • Savings in key areas like groceries and gas

This is one of the rare cards that can be useful in both good times and in bad.

Click for more details


Wells Fargo Platinum Card

Annual Fee:

  • $0 (zero)

Current Welcome Bonus:

  • None

Introductory APR:

  • 0% APR on balance transfers for the 18 months following account opening
  • 0% APR on purchases for the 18 months following account opening

Balance Transfer Fees:

  • 3% when you transfer during the first 120 days of account opening, with a minimum of $5. Then, either $5 or 5% of the amount of each transfer, whichever is greater.

Key Benefits:

  • Up to $600 in cell phone protection ($25 deductible)
  • Auto rental collision damage waiver (secondary)
  • Travel accident insurance

Why This Is A Good Card

The 18 month period during which cardholders can make the most of the 0% APR on balance transfers and new purchases is one of the better deals I have seen – most deals appear to offer 0% APR rates for between 12 and 15 months.

This is one of the very few credit cards that comes with no annual fee and which offers cellphone cover.

The Wells Fargo Platinum Card (In Summary)

The Wells Fargo Platinum Card is as basic as it comes and requires no finesse to get the most out of it. It’s not a rewarding card in any shape or form…but that’s not what it’s designed to be.

This is a card to be used for its 18-month 0% APR offer on balance transfers and new purchases so it’s a card to be used for those looking to save on fees they may be paying elsewhere and those looking to generate a bit of liquidity for essential purchases.

Click for more details


Watch Out For This

All of these cards offer 0% APR on balance transfers and new purchases (for a limited time) but they all also come with a balance transfer fee too (3% in most cases).

If you have a high balance that you’re thinking of transferring over to a 0% APR card but you’re not planning to have that balance for long, the 3% transfer fee may turn out to be more than the interest you’d otherwise pay if you left you debt where it is – these balance transfer deals are generally best for people who are holding debt they have no plans to pay off in the short-term.

The key to making sure you’re getting a good deal with one of these cards is to work out the math – how much will you pay in transfer fees vs how much will you pay in interest if you don’t transfer your balance.

Bottom Line

If you’re a fan of the miles and points world you should hopefully be aware that you should never, ever, carry a balance on an interest bearing travel rewards credit card (the rewards are heavily outweighed by the fees) but troubled times can lead to exceptional circumstances and if you are carrying a balance on any of your credit cards now many be a time to consider the economics of shifting that balance on to a card with considerably lower fees.

Don’t transfer over without working out how much the transfer will cost you and how much you’ll save by making a transfer and make sure you research the cards on the market to get the very best deal open to you.

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