Avoid the Balance Transfer Fee and Save Money with this $0 Transfer Hack

by | Feb 2, 2024 | Fidelity IRA | 4 comments

Avoid the Balance Transfer Fee and Save Money with this alt=




Discover the secret to dodging balance transfer fees with this unique method. This video guides you through the process of transferring your credit card balance to a 0% interest credit card without incurring any fees. This balance transfer hack will save you money.

This method is the equivalent of having a no fee balance transfer card.

We’ll cover tips and strategies for choosing the right card, timing your transfer effectively, and utilizing lesser-known tactics to maximize your savings. Whether you’re looking to consolidate debt or simply take advantage of a 0% interest offer, this video is packed with valuable insights and step-by-step instructions to make your balance transfer smooth and cost-effective. Say goodbye to unnecessary fees and hello to smarter credit management.

00:00 Avoid Balance Transfer Fees – Pay $0
00:52 Commenter Thank Yous
02:22 Typical Transfer Method
05:20 Balance Transfer Hack – Move Balance and Avoid Transfer Fee
11:00 Total Savings

0% Balance Transfer Credit Cards :
How to Use Balance Transfer to Pay Off Debt Step by Step :
Velocity Banking with a Credit Card Explained :
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Balance Transfer Hack: $0 Transfer Fee – Avoid the Transfer Fee and Save Money

For those who carry a balance on their credit cards, balance transfers can be an effective way to save money on interest and pay off debt faster. However, one downside of balance transfers is the transfer fee, which can range from 3% to 5% of the amount being transferred. But what if you could avoid that fee altogether? With a little bit of strategy and planning, it’s possible to take advantage of a balance transfer with a $0 transfer fee and save some serious money.

Here are some tips and tricks to help you avoid the transfer fee and maximize the benefits of a balance transfer:

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1. Look for promotional offers: Many credit card companies offer promotional balance transfer offers with a $0 transfer fee as a way to attract new customers. Keep an eye out for these offers, which are typically advertised on credit card websites, promotional emails, and even through snail mail. Take advantage of these offers to transfer your balance without incurring any fees.

2. Negotiate with your current credit card issuer: If you have a good payment history and have been a loyal customer, you may be able to negotiate with your current credit card issuer to waive the transfer fee for a balance transfer. It never hurts to pick up the phone and ask for a better deal, especially if you are considering moving your balance to a different card.

3. Use a balance transfer check: Some credit card companies offer balance transfer checks that can be used to transfer a balance from one card to another. These checks often come with promotional offers that include a $0 transfer fee. Check with your credit card issuer to see if they offer these checks and take advantage of any promotional offers that may be available.

4. Consider a personal loan: If you’re unable to find a credit card with a $0 transfer fee, you may want to consider taking out a personal loan to pay off your credit card debt. Personal loans often come with lower interest rates than credit cards, and many lenders offer the option to use the loan proceeds to pay off existing credit card debt. While there may be some fees associated with a personal loan, they are often less than the balance transfer fee charged by credit card companies.

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By avoiding the transfer fee and taking advantage of promotional offers, you can maximize the benefits of a balance transfer and save money on interest. However, it’s important to carefully read the terms and conditions of any balance transfer offer to ensure that you fully understand the terms and any potential fees that may be associated with the transfer. With a little bit of effort and planning, you can use balance transfers to help you get out of debt and achieve your financial goals.

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4 Comments

  1. @HackYourCreditCards

    Thanks to @BodaciousWench for starting the “raspy voice” thread, @geekazoid1983 for great advice, I put on a polo and put the mic between button 1 and 2 as suggested and it worked, @kallagirl450 – thankfully it was the sound you found annoying and not me 😉 and @rebar-king thanks for the attire advice, I’m trying the polos now instead of t’s, I appreciate you all and the comments.

  2. @LucyLight87

    Hi there! Thank you for sharing all the great financial advice!
    I also thought about the existing high interest in the original credit card balance and thought, over the course of five months, I’m still paying more in interest than I am in a balance transfer fee most likely, and was discouraged, however, I don’t know if anybody else is encountering this but the first and only time I did a balance transfer to start doing the balance transfer debt reduction method a year and a half ago, I went to the trouble of applying for a new credit card only to find out that the transfer limit was $2000 when I needed to transfer $5000. Now my original credit card continued to grow a balance and now I am $7500 plus the balance on the new card in debt that I can’t seem to pay off . I have been hesitant to do another balance transfer because I feel like I’m going to encounter another transfer limit and it’s not really impacting my overall my debt reduction by much or worth the transfer fee. So it’s making me consider this method a little more even if I still have to continue to pay the high interest for a few more months, I should still be able to pay the debt off a little faster . What are your thoughts on this?
    -Lucy

  3. @g.clarice5396

    You didn’t include the 30% interest on the original credit card .

  4. @bull1709

    Great idea in some situations. It would make sense to see how much interest you would pay on that 30 percent loan over 5 months in the example because it seems like you would be better off doing the transfer.

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