When you’re trying to get rid of credit card debt, a balance transfer card with a 0% intro APR can be a powerful tool. But what if you don’t want to pay the typical 3% to 5% balance transfer fee? While rare, cards with no balance transfer fee exist. The Navy Federal Platinum Credit Card is just such a card.

However, be aware that not everyone can get the Navy Federal Platinum Credit Card. NFCU membership is required, meaning you must be a United States military member or have a military connection to be eligible. More details on those requirements can be found below.

If you are eligible to join or are currently a NFCU member, the Navy Federal Platinum Credit Card allows up to a year of no interest for balance transfers. It’s also unique in that it can be issued as a Mastercard or a Visa and comes with a potentially low ongoing APR.

• There's no balance transfer fee

  Cards with no balance transfer fee are relatively rare. Many balance transfer cards charge a balance transfer fee of 3% to 5% of the amount transferred. That can add up — for example, transferring $3,000 with a 5% balance transfer fee means paying an additional $150.

• Intro APR on balance transfers

  The Navy Federal Platinum Credit Card offers a 0.99% introductory APR for 12 months* *Applies to balance transfers requested within 60 days of account opening, after which a 10.24% to 18% APR applies.

  This isn’t the longest 0% intro APR period available on a balance transfer card, but it is a reasonable amount of time. Combined with the $0 balance transfer fee, having a year of no interest makes this an exceptional balance transfer card.

• The regular APR is relatively low

  If you’re looking for an ongoing low APR card to revolve a balance from time to time, the Navy Federal Platinum Credit Card offers a very competitive APR of 10.24% to 18%.

  Of course, you won’t know if you qualify for the low end of the APR range until you apply, but if you’re credit score is in the excellent range, the odds of getting that low rate could be good,

• Doesn't charge a foreign transaction fee

  If you travel abroad, you don’t have to worry about being charged an extra fee on every transaction you make. The Navy Federal Platinum Credit Card has a $0 foreign transaction fee.

• No annual fee

  You won’t have to pay just for keeping the card open, since it has an annual fee of $0.

• Purchases don't get an intro APR

  The Navy Federal Platinum Credit Card offers an intro APR period on balance transfers but not purchases. If you’re planning a big purchase and need a card with an intro APR on new purchases, check out our list of best 0% APR credit cards for long intro periods instead.

  Any purchases you make on the Navy Federal Platinum Credit Card will accrue interest at the regular purchase APR of 10.24% to 18%.

• Short balance transfer intro period

  While intro APR on balance transfers for a year is good, especially without the fee, it’s not exceptional. It’s possible to get up to 21 months of a 0% intro APR with other balance transfer credit cards. However, those cards charge balance transfer fees. But if you need more time to pay off your transferred debt, a balance transfer fee might be worth it in the long run.

• Military connection required

  To apply for the Navy Federal Platinum Credit Card, you must join Navy Federal Credit Union. Membership is open to active duty military members, retired military and veterans, family members (including adopted and stepchildren) and United States Department of Defense civilian employees.

 

The Citi® Double Cash Card comes with three major advantages compared to the Navy Federal Platinum Credit Card: it doesn’t require membership to apply, it offers a longer 0% intro APR on balance transfers, and it has a stellar cash back program which makes it worth keeping around after you pay off your balance.

Whereas the Navy Federal Platinum Credit Card requires NFCU membership, anyone can apply for the Citi® Double Cash Card (note that you should have excellent/good credit to have a realistic chance of approval).

The Citi® Double Cash Card offers a longer intro APR of 0% for 18 months on balance transfers, after which a 18.49% - 28.49% (variable) APR applies.

In addition, the Citi® Double Cash Card lets cardholders earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. Once you pay off your transferred balance, the Citi® Double Cash Card is worth keeping in your wallet for everyday purchases. Meanwhile, the Navy Federal Platinum Credit Card is a fairly no-frills card that does not earn rewards.

The caveat, of course, is that with the Citi® Double Cash Card there is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.

You’ll pay a $0 annual fee for the Citi® Double Cash Card , but beware the 3% foreign transaction fee.

If you qualify for membership with Navy Federal Credit Union and are fairly confident you can pay off your debt within a year, the Navy Federal Platinum Credit Card is an ideal balance transfer card.

Thanks to its standout $0 balance transfer fee, you can enjoy the introductory no-interest period without having to pay 3% to 5% of the amount transferred, which is what most balance transfer credit cards will charge. And if you can’t quite pay off your balance before the intro APR period ends, the card has a very reasonable regular APR range.

However, if you can’t qualify for membership or think you’ll need a longer intro APR period, consider a card such as the Citi® Double Cash Card . You’ll pay a little more upfront due to the balance transfer fee, but you’ll have peace of mind that interest charges won’t kick in quite so soon.