There’s word of a new no fee balance transfer offer, this time from USAA.
If you weren’t already aware, USAA, which stands for United Services Automobile Association, provides a slew of financial services to United States military and their families.
So clearly this offer is limited to a select group of people, but if you are a member of the Armed Forces, be sure to inquire about this special deal.
Recently, USAA has been sending out “convenience checks” to existing customers that come with 0% APR for 12 months and no balance transfer fee.
There’s also no annual fee either, so this is yet another free balance transfer offer currently available.
The only other two, which are open to everyone, are the Chase Slate No Fee Balance Transfer offer and the Discover No Balance Transfer Fee deal, with the latter expected to expire at the end of February.
So if you’re a member of USAA, keep a close eye on your mailbox or call customer service to see if you can get the deal that way.
It’s pretty rare to get your hands on a no fee balance transfer, especially post-credit crunch.
And because the offer is coming in the form of a balance transfer check, you’ll be able to deposit an amount up to your credit limit in your bank account and use it accordingly.
Additionally, because USAA isn’t one of the major credit card issuers, you won’t have an issue trying to pay off debt “in house.”
For example, if you have existing credit card debt with Chase, you can’t use a Chase balance transfer to pay it off (you can’t balance transfer within the same bank).
The debt must be paid off by a different bank. So the USAA balance transfer is a great tool to pay off any credit card debt you may have with American Express, Chase, Citi, Discover, or the other major players.