Navy Federal Credit Union (NFCU) usually offers a special balance transfer promotion every January that is available to both new and existing NFCU credit cardholders. This year, I don’t see anything on their website, but I did just get a paper mailing from them. If you have an existing NavyFed credit card and are looking to lower your interest rates on balances, it may be worth checking in.
The Navy Federal Platinum credit card is still offering new cardholders 0% APR for 12 months on balance transfer with no balance transfer fee. This card is on my list of the best 0% APR balance transfer offers.
Balance transfer promotions 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.
Membership eligibility for NavyFed is restricted primarily to those with a military affiliation – including active duty, veterans, retirees, and family members – but also includes some civilian employees in the Department of Defense. NavyFed offers a variety of solid financial products including mortgage, car loans, and home-buying services.
The Best Credit Card Bonus Offers – November 2024
Big List of Free Stocks from Brokerage Apps
Best Interest Rates on Cash - November 2024
Free Credit Scores x 3 + Free Credit Monitoring
Best No Fee 0% APR Balance Transfer Offers
Little-Known Cellular Data Plans That Can Save Big Money
How To Haggle Your Cable or Direct TV Bill
Big List of Free Consumer Data Reports (Credit, Rent, Work)
There is a caveat with the Chase Slate card which I just learned the hard way. You can only transfer up to $15,000 every 30 days. Since you only get 60 days to transfer without a fee, the most you can transfer without a fee is $30,000. Anything about 30k will be outside of the 60 day window and will incur a 3% fee. This fact is not well advertised.
So it’s not all unicorns and popcorn with Chase Slate.
Thanks for the data point. Though $30k is pretty much the most I’ve ever gotten from any single credit card. How high is your credit limit?
I agree with Jonathan. I got $15,000 credit limit for Chase Slate with a perfect credit score. So, anything above that is not realistic. Let alone $30,000. So, that caveat is really irrelevant.
Nick,
It is irrelevant for you since you cannot get more than $15,000 in credit. Remember if you have other Chase credit cards you are able to transfer available credit to Slate then do the fee free transfer.
Well, to be fair, Chase credit limits do depend on things other than credit report data like income, specific borrowing history with Chase, and also the merging of other Chase credit lines like Herman mentioned. I’ve probably at one time had about a $40k line on one Chase card. (And maybe even your ability to talk them into it.)
I think it is useful to know that you can only transfer $15k at one time, or $30k during the Chase Slate 60-day promo period. I was just commenting that if you are comparing to other balance transfer cards, $30k is still a relatively high number. It’s not like other card issuers are giving out $50k or $75k balance transfers without blinking an eye. 🙂
What is the maximum amount one can transfer to NavyFed? Couldn’t find this information from Navy Fed site. thanks
I believe that this will depend on your credit limit with them.
This NFCU offer is not available to all. It is targeted.
The BankAmericard from BoA currently offers a 0% intro APR for 15 billing cycles (months) on purchases and balance transfers made in the first 60 days of account opening with a $0 intro balance transfer fee for the first 60 days that the account is open.
Thanks, I didn’t know that they had gotten rid of the balance transfer fee. It used to be 3% with $10 min. Now their offer matches that of the Chase Slate.
Interesting to see these no transfer fee no interest offers coming back. For the past several years they were nowhere to be found.
Navy Federal Credit Union gives you 0% interest on the money you transfer in, however, they charge you interest on any purchases you make while you are carrying the balance! I didn’t see where they disclosed this! It seems like an underhanded way to make money!
Every credit card must disclose their APR (interest rate) for balance transfers and purchases separately. Sometimes they are the same – ex. “0% APR on both purchases and balance transfers”, and sometimes they are different – just “0% on balance transfers”. I wouldn’t call this underhanded, but it is an important point if you a new to credit cards. I will try to point this out next time I write about it.