When my wife and I were digging ourselves out of credit card debt, we had a secret weapona no fee balance transfer credit card. At the time it was offered by Citi, and it allowed us to transfer debt to a 0% card for free. We not only saved money, but we got out of debt faster, too. But the problem with balance transfer cards over the last few years has been the fee. Every BT offer out there charged at least three percent, and some charged as much as five percent of the balance transferred. Today, however, the no fee balance transfer is back!
Chase has just launched a new version of its Slate Card, which provides consumers a 0% intro APR on purchases and balance transfers for 12 months without a balance transfer fee. This allows the credit card user to move their balance from one card to this new Slate Card without being charged a 3% fee. Depending on just how much money needs to be transferred, the savings could be substantial.
So whats the catch? There really isnt one, but you should always check out the details. Fo
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