Navy Federal Credit Union is currently offering a promotion where you can do a balance transfer without a fee and get an introductory APR of 0% for the first twelve months.
The Deal
- Receive an introductory APR of 0% for the first twelve months
- No balance transfer fee
The Fine Print
- Interest rate goes up to between 7.99% and 18% depending on your credit score after the introductory period
- Only available to NFCU members, eligibility to become a member is restricted to:
- Department of Defense employees
- Active or retired military members
- Immediate family members of any of the above
- Offer valid until April 20th, 2014
Our Verdict
For those who are eligible for this deal and are carrying a balance, you’d be stupid not to take NFCU up on it. They generally seem to run these type of deals at least once per year, sometimes more often. With interest rates so low, it’s not worth messing around to try and earn 1% interest for those without a current balance – but it is ideal for those struggling to get out of debt.
It also seems like 0% APR and no balance transfer fee deals are becoming more popular. For example the Chase Slate is currently running a similar promotion (although with an introductory period of 15 months) and even Discover has a targeted offer which is a 12 month 0% period and no balance transfer fee.
