Now that Discover has ended its no fee balance transfer promotion, you may be wondering if there are any other alternatives out there.

In short, the answer is an unfortunate “no.”

That’s right; no other credit card issuers are brave enough to offer a no fee balance transfer credit card at the moment, perhaps still spooked from the credit crisis that appears to be nearing its end.

Even pre-credit crisis, I don’t think Chase offered a no fee balance transfer; only Citi seemed to take that plunge.

So why is this post titled, “Chase No Fee Balance Transfer?”

Well, you may have noticed the “?” in the title. It’s there beca

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The Discover no fee balance transfer offer expired yesterday, meaning there aren’t any balance transfer credit cards out there still offering 0% APR with no fee.

But they’ve decided to extend their promotional 0% balance transfer for 24 months indefinitely, which was slated to expire as well.

This is one of the best balance transfer credit cards available at the moment because it offers 0% APR for a full 24 months.

That means you won’t pay any finance charges for two years, which certainly gives even the most debt-riddled consumer plenty of time to pay off their debt without being hit with unnecessary interest.

The only downside to this offer is the 5% balance transfer fee, but it definitely beats paying the standard credit card APR, which typically ranges from the mid-teens to the 20% range and higher.

Let’s look at an example of the potential savings:

Current credit card debt: $2,500
Current credit card APR: 19.99% APR
Balance transfer offer: 0% APR for 24 months

Though you would have to pay $125 in balance transfer fees in our example, you would save $41 per month and $500 a year by avoiding credit card finance charges (using simple math).

So as you can see, it’s a very effective way to save money and get out of debt.

Take advantage before this deal disappears as well.

Apply here.

Related: How to pay off credit card debt.

Financial comparison website Mozo has warned Australians with high credit card debt to think carefully before opting for a special low rate balance transfer.

The site said that while Australia’s major banks seek to lure customers with such an offer, the most important factor to consider is not the interest rate but the speed in which the debt holder intends to pay off the balance.

Taking an average credit card balance of $3,000 and comparing this with a standard Big Four bank credit card, Mozo used its award-winning health check tool to test three common repayment scenarios.

For customers only making the minimum monthly repayment, Mozo found that the best option is to go with a balance transfer card with a low rate for the life of the balance transfer such as the CUA Rewards, IMB Rewards and Community CPS Rewards Card.

Meanwhile, the comparison website found that bank customers wishing to pay off their credit card balance over a year or two should switch to a low rate card such as the BankWest Zero card which has a low 1.99 per cent rate for 12 months and no annual fee.

In scenario three – “paying it off fast” – Mozo said that people wanting to get rid of debt within six months could opt for a number of cards with a low six month balance transfer offer and no annual fee in the first year including the BankWest Zero card and ANZ First card.

Rohan Gamble, managing director of Mozo, said: “We are urging Australians to firstly think about their ability to repay their debt before choosing a new credit card. Too

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Do you have a credit card with a high balance? Worse yet, is the balance growing thanks to a high interest rate? If you are in this position you need to know all your options. For most, sticking things out and continuing to pay seems like the best idea. But remember, there are other options. For instance, you may want to transfer the balance to another card. Believe it or not, this can better your situation in no time at all.

The main benefit of a balance transfer is that you can lower your interest rate. This is particularly true if your new card has some sort of introductory offer. With one of these, you will not only lower your rate but also the amount of your monthly payment.

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If you are interested in a credit card balance transfer you need to know the good and bad before making a final decision. You may find that this is the perfect option for you. Of course, you may also learn that moving forward with a balance transfer would be a huge mistake.

Here are several credit card balance transfer tips to consider:

1. The credit card company is betting that you will make a mistake along the way – and most of the time they are right. By a mistake, they hope you do not pay your balance in full before the promotional APR expires. This way they can charge you a high finance charge, and in turn make a lot of money off of you.

2. Y

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