Teaser Rate

• Some no-balance-transfer-fee credit cards offer a teaser rate for an initial period of time on the amount of money that will be transferred. This teaser rate is designed to lure the borrower into moving the balance. Borrowers should be aware that the teaser rate will end at some point and the interest rate will adjust to something higher. For instance, a no-balance-transfer-fee credit card may offer 1.9 percent interest for the first year, and then reset to 19.99 percent thereafter.
  
  

Interest Rates

• There are two main types of interest rates associated with no-balance-transfer-fee credit cards: fixed and variable. A fixed rate means that the interest rate charged by the credit card company will not change (unless the company notifies you in accordance with the law), whereas a variable rate can change from month to month. Variable-rate credit cards are based on different indexes where the banks borrow money from. If it costs the bank more to borrow money, it will pass that increase along to you.
  
  

Annual Fee

• Some no-balance-transfer-fee credit cards will charge you an annual fee. The annual fee is a way of charging the card holder money in lieu of the balance transfer fee. If a balance transfer fee is being charged, consumers can look for a card that does not have a fee, or call the bank to see if they fee can be waived. Ultimately, the discretion will be up to the credit card company.
  
  

Rewards

• Some no-balance-transfer-fee credit cards offer rewards to their card holders. These rewards can be in the form of airline miles, points or straight cash. In general, reward credit cards tend to have a slightly higher interest rate than non-reward cards. It will be up to the card holder to determine if the rewards on a no-balance-transfer-fee credit card will be right for them. Also, they will have to weigh if obtaining those reward justifies the higher interest rate.
  
  

Credit Unions

• While it may be tough to locate no-balance-transfer-fee credit cards from the major lending institutions, credit unions have emerged as a place where people can still find such deals. This is due to the fact that credit unions are actually owned and operated by their members, and many credit union members have decided to issue financial products that do not have balance transfer fees. While they will still charge interest on their no-balance-transfer-fee credit cards, the interest rates from credit unions are historically lower than those of the major banks. It can behoove a credit consumer to compare credit union credit cards against those of the larger banks.