Balance Transfer Cards That Won't Charge You an Annual Fee Just to Save Money
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In the market for a credit card that can help you pay off debt -- and won't charge you an annual fee while you do it? Luckily, you've got some great options at your disposal.
Most top balance transfer cards won't charge you an annual fee, which means you'll mostly just have to worry about a balance transfer fee (usually 3%-5%). Still, that's a lot cheaper than paying interest -- which makes balance transfer cards a great way to save money on existing debt.
Here are three of my favorite no-annual-fee balance transfer cards to help you get ahead today.
1. Discover it® Chrome
The Discover it® Chrome has one of the better intro APR offers on the market: You'll get 0% intro APR for 18 months on balance transfers and 6 months on purchases. The standard ongoing 17.74% - 26.74% Variable APR will apply at the end of the intro period. Also note there is a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.
As you can see, the Discover it® Chrome's geared much more toward balance transfers than paying off upcoming purchases. But if that's what you're looking for, this card is one of your best bets. You'll even get some decent earning rates, too:
- 2% cash back on gas stations and restaurants, up to $1,000 in combined purchases each quarter
- 1% cash back on all other purchases
For a long intro period on balance transfers, plus some solid rewards on everyday purchases along the way, the Discover it® Chrome is definitely worth checking out.
Looking to pay off debt now? Read our full review of the Discover it® Chrome to apply today.
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Intro APR
Purchases: 0%, 6 months
Balance Transfers: 0%, 18 months
Regular APR
17.74% - 26.74% Variable APR
Rewards 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. 1% unlimited cash back on all other purchases - automatically
1% - 2% Cashback
Annual Fee
$0
Welcome Offer INTRO OFFER: Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards.
Discover will match all the cash back you’ve earned at the end of your first year.
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The main draw of this Discover card is the balance transfer offer, which is one of the best we've come across. Unlike many balance transfer cards, it combines that with cash back rewards. But the cash back program doesn't measure up to what other cards offer.
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- Welcome bonus offer
- Gas and restaurants rewards
- 0% intro APR
- No annual fee
- No foreign transaction fee
- Low cash back rates
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- INTRO OFFER: Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards.
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. You'll still earn unlimited 1% cash back on all other purchases.
- Get a 0% intro APR for 18 months on balance transfers. Then 17.74% to 26.74% Standard Variable APR applies, based on credit worthiness.
- Redeem cash back for any amount
- No annual fee.
- Terms and conditions apply.
2. Wells Fargo Reflect® Card
Unlike the Discover it® Chrome, the Wells Fargo Reflect® Card (rates and fees) doesn't earn any rewards, but it comes with an even longer intro APR period. You'll get 0% intro APR for 21 months from account opening on qualifying balance transfers and 21 months from account opening on purchases; after that, a 17.74%, 24.24%, or 28.49% Variable APR applies.
That's one of the longest intro APR periods you'll find, period, and it applies to both balance transfers and purchases. If your only concern is saving on interest, the Wells Fargo Reflect® Card's your best bet.
Simply put, it's the card I'd apply for if I were struggling with debt. Rewards can come after debt payoff. Then, and only then, would I try and land a rewards-earning credit card.
Need to start saving today? Check out our full review of the Wells Fargo Reflect® Card to apply now.
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Intro APR 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers
Purchases: 0% intro APR for 21 months from account opening on purchases
Balance Transfers: 0% intro APR for 21 months from account opening on qualifying balance transfers
Regular APR
17.74%, 24.24%, or 28.49% Variable APR
Rewards
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Annual Fee
$0
Welcome Offer
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This no-frills card is a solid choice if your priority is to avoid credit card interest for as long as possible. It offers an incredible 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers (17.74%, 24.24%, or 28.49% Variable APR after). The balance transfer fee (5%; $5 min.) is higher than some cards, but if you want an equally long intro APR on purchases and balance transfers, this card is hard to beat.
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- Long 0% intro APR offer
- No annual fee
- Cellphone protection
- Balance transfer fee
- Foreign transaction fee
- No rewards program
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- Apply Now to take advantage of this offer and learn more about product features, terms and conditions.
- 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.74%, 24.24%, or 28.49% variable APR thereafter; balance transfers made within 120 days qualify for the intro rate, BT fee of 5%, min: $5.
- $0 annual fee.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
- Through My Wells Fargo Deals, you can get access to personalized deals from a variety of merchants. It's an easy way to earn cash back as an account credit when you shop, dine, or enjoy an experience simply by using an eligible Wells Fargo credit card.
3. Chase Freedom Flex®
Finally, if you want a card that earns versatile rewards with a strong 0% intro APR period, the Chase Freedom Flex® (see rates and fees) delivers. It comes with 0% intro APR for 15 months on purchases and balance transfers; after that, a 18.74% - 28.24% Variable APR applies.
You'll also earn:
- 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
- 5% cash back on travel purchased through Chase Travel℠
- 3% cash back on dining and drugstores
- 1% cash back on all other purchases
For a lot of people, the Chase Freedom Flex® offers the best of both worlds: no interest for 15 months, plus super strong ongoing rewards. It doesn't have as long of an intro period as the Discover it® Chrome or Wells Fargo Reflect® Card, but it's got rewards rates that outshine both of them, plus no annual fee just like the others on this list.
Want a generous intro APR offer and strong earning rates? Read our full Chase Freedom Flex® review to apply today.
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Intro APR 0% Intro APR on Purchases
Purchases: 0% Intro APR on Purchases, 15 months
Balance Transfers: 0% Intro APR on Balance Transfers, 15 months
Regular APR
18.74% - 28.24% Variable
Rewards 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Travel℠, 3% on dining and drugstores, and 1% on all other purchases.
5% cash back offer
Annual Fee
$0
Welcome Offer Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening!
$200 bonus
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This Chase card is one of our favorites, and with good reason. You earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, alongside other standout perks (and at least 1% on all purchases). Plus, this one comes without an annual fee and with a generous welcome bonus.
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- Big sign-up bonus
- Lucrative cash back program
- Long 0% intro APR
- No annual fee
- Purchase and travel protections
- Foreign transaction fee
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- Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
- 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
- 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more
- 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1% cash back on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.74%-28.24%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Flex® card
- Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
- Member FDIC
Our Research Expert
Ryan Wilcox is a full-time Personal Finance Writer at Motley Fool Money, covering credit cards, bank accounts, investing, auto insurance, and other personal finance topics. Ryan has been writing about credit cards and savings since 2022. Before joining Motley Fool Money, he was a full-time writer at The Points Guy, where he focused on maximizing credit card rewards and travel strategies. He holds a bachelor’s degree in English and American History from the University of North Carolina at Chapel Hill, where he also spent four years reporting for The Daily Tar Heel. With a background in both journalism and consumer finance, he brings a clear and thoughtful voice to money topics. Outside of work, Ryan is likely reading, writing, or updating his Letterboxd account.