Navy Federal Credit Union (NFCU) has a limited-time promotion where both new and existing NFCU credit cardholders can get 0% intro APR on balance transfers for 12 months. You must transfer a non-Navy Federal credit card balance before February 28, 2018. (All NavyFed cards now have no balance transfer fee, but the APR is usually much higher.)
Members With Existing Navy Federal Credit Cards – Sign in to your online account, select the “Transfers” tab and “Make Credit Card Balance Transfer” on the lower right side. Be sure to transfer your existing card balance before Feb. 28, 2018.
Members Without a Navy Federal Credit Card – Sign in to your online account, select the card you want to apply for, and choose the Balance Transfer option during the application process.
Membership eligibility for NavyFed is restricted primarily to military personnel including Army, Marine Corps, Navy and Air Force – including retirees and family members – but also includes some civilian employees in the Department of Defense. Some may have joined through a military-related association in the past, but that window is now closed. If you are not military and wish to join, your best bet may be to ask an affiliated family member to refer you. NavyFed offers a variety of solid financial products including mortgage and home-buying services.
This is a solid offer, especially if you already have an NFCU card as you don’t need to apply for a new card. In addition, there continues to be fewer good no fee 0% APR balance transfer offers these days even though interest rates are still relatively low. Here are some other opportunities to consider:
- Chase Slate Card – 0% Introductory APR on balance transfers and purchases for 15 months. No balance transfer fee. Balance transfers must be initiated within 60 days of account opening. Update: The BankAmericard® Credit Card has the exact same offer.
- Citi Simplicity® Card – 0% APR on balance transfers and purchases for 21 months. A longer period and applies to both purchases and balance transfers, but with a 3% balance transfer fee ($5 minimum). No late fees and no penalty rate. Balance transfers must be completed within 4 months of account opening.
- Alliant Credit Union Visa Platinum – 0% Introductory APR on balance transfers and purchases for 12 months. Shorter period, but no balance transfer fee. You must be an Alliant CU member to obtain this card, but membership is open to anyone who pays a $10 membership fee to Foster Care to Success. You could view that as a small balance transfer fee.
0% balance transfer cards can be good opportunities to lower the interest rate on your existing balances and accelerate any debt payoff plans. Try your best to finish your payments within the introductory period, as the rates will increase significantly after that.