Chase No Fee Balance Transfer?

May

Chase No Fee Balance Transfer?

Tagged Under : Balance Transfer, Fee Balance, Fee Balance Transfer, Transfer

Now that Discover has ended its no fee balance transfer promotion, you may be wondering if there are any other alternatives out there.

In short, the answer is an unfortunate “no.”

That’s right; no other credit card issuers are brave enough to offer a no fee balance transfer credit card at the moment, perhaps still spooked from the credit crisis that appears to be nearing its end.

Even pre-credit crisis, I don’t think Chase offered a no fee balance transfer; only Citi seemed to take that plunge.

So why is this post titled, “Chase No Fee Balance Transfer?”

Well, you may have noticed the “?” in the title. It’s there because it’s a bit of a gray area.

Chase doesn’t exactly offer a no fee balance transfer credit card, but you can make your balance transfer from Chase an effective “no fee” offer.

But how you ask?

Well, it’s pretty simple actually, as this site pointed out.

Chase is offering a $100 cash back bonus on their Freedom card, which also comes with 0% APR for 12 months on credit card balance transfers.

In order to get the $100, you simply need to make $500 in qualifying transactions during the first three months from account opening.

The beauty is that balance transfers are included under the definition of qualifying transaction, so if you execute one that’s for $500 or more, you’ll earn 10,000 points, which is good for a $100 check.

This means you can balance transfer $3,000 and pay the 3% balance transfer fee ($90), but actually come out ahead $10 post-bonus.

All while avoiding pesky finance charges.

Pretty neat.

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