Find out the list of the Best instant approval balance transfer credit cards and check what is suitable for you by learning about these cards’ features, benefits, and drawbacks.
The credit card debt of American households has skyrocketed to record highs during the COVID-19 pandemic. With over 175 million people relying on credit cards, it is crucial to comprehend the options available for managing this debt.
One of the most popular strategies for managing credit card debt is balance transfer credit cards with instant approvals.
This article will discuss what you need to know about balance transfer credit cards and how they can help you handle your financial problem.
Table of Contents
Why do you need an Instant Approval Balance Transfer Credit Card?
As of early 2021, the Federal Reserve Bank of New York said 25 million consumer credit card accounts depicting approximately $68 billion in outstanding credit card debt. This figure is expected to rise as more households struggle financially due to the pandemic and economic downturn. To help manage their debts, many consumers are turning to balance transfer credit cards with instant approval, which can offer a more convenient way to pay off existing balances while saving money in interest payments.
Benefits of Balance Transfer Credit Card?
Balance transfer credit cards with instant approval allow users to move existing balances from one or more high-interest accounts onto a single lower-rate account without going through a lengthy application process.
The key benefit of using these cards is that they can save money by reducing or eliminating interest payments on your current balances. Additionally, many credit card providers offer introductory 0% APR periods where no interest is charged for a certain period, making them an attractive option for those looking to pay off their debt quickly and efficiently.
The best instant approval balance transfer credit cards available right now
If you’re looking for an instant approval balance transfer credit card, there are a few great options available right now. Here are our top four picks:
1. Keypoint Credit Union Visa® Platinum
Keypoint Credit Union Visa® Platinum is the best instant approval credit card for a balance transfer. It offers 0% APR on all purchases for the first 9 months after card issuance, plus a $100 statement credit on the first $500 purchases made within the first 60 days of card issuance.
Also, there are no annual or foreign transaction fees, making this the right choice for those who frequently tour abroad. The low 2% balance transfer fee makes it even more attractive for those who transfer balances from other cards.
With its competitive rates and features, Keypoint Credit Union Visa Platinum is an excellent choice for anyone scrutinizing to take advantage of balance transfers and save money.
Pros and Cons of Keypoint Credit Union Visa Platinum
- No annual fee
- No foreign transaction fee
- 0% APR on all purchases for the first 9 months
- $100 statement credit on the first $500 of purchases made within the first 60 days of card issuance
- You receive a $100 after first $500 of purchases made in the first two months after you receive your card
- You will get unlimited 1.5% cash back on purchases.
- High APR of 15.99% 24.99%
Why you should have Keypoint Credit Union Visa Rewards
You may benefit from the Keypoint Credit Union Visa® Platinum if you have a fair or limited credit history. This card offers a 0% intro APR for 9 months, making it an attractive perk.
Plus, the low balance transfer fee of 2% is particularly helpful. Another great feature is that foreign fees are waived, which will be valuable if you are someone who travels often.
Furthermore, this credit card can be added to Apple Pay™, Google Pay, Samsung Pay, or Microsoft Wallet for added security and protection against fraudulent transactions.
In conclusion, the Keypoint Credit Union Visa Platinum is a fantastic option for those with fair or little credit history scrutinizing for a reliable and secure credit card.
2. OneUnited Bank Unity Secured Credit Card
If you’re interested in an instant approval balance transfer credit card, the Unity Secured Credit Card from OneUnited Bank is a superb option.
There’s no minimum credit score required, and the ongoing APR on balance transfers is a low 17.99% fixed rate. This card also offers Intro APR for 9.95% on balance transfers for 6 months.
So, you can use this credit card for Debt management.You can apply online in less than 5 minutes, and if you have a minimum security deposit of $250, you could be approved today.
The annual fee is only $39, and there’s no balance transfer fee. This is an ideal card for rebuilding your credit, as it reports to all 3 major credit bureaus monthly.
Plus, your security deposit is totally refundable if you close your account.
So if you’re scrutinizing for an instant approval balance transfer credit card with no hidden fees, the Unity Secured Credit Card from OneUnited Bank is a great option.
Pros and Cons of Unity Secured Credit Card
- No minimum credit score required
- Intro APR: 9.95% on balance transfers for 6 months
- Ongoing APR is a low 17.99% fixed rate
- The annual fee is only $39
- Security deposit is fully refundable if you close your account
- Reports to all three major credit bureaus monthly
- Apply online in less than 5 minutes.
- No rewards Program
- No-Intro rewards bonus
- Balance transfer fee
- Foreign Transaction Fee
Why I recommend Unity Secured Credit Card:
You will find a great credit card option in the Unity Secured Credit Card from OneUnited Bank. This card is perfect for someone with bad credit or no credit history, as no minimum credit score is required.
In addition, the intro APR of only 9.95% is a fantastic feature.
The security deposit you are asked to make is entirely refundable if you decide to close your account. Each month, your activity is reported to all three major credit bureaus.
Reporting to all credit bureaus helps you enhance your credit score and build a solid financial future.
In conclusion, the Unity Secured Credit Card is a unique instant approval balance transfer card that allows individuals with no or inadequate credit to benefit from its features without stressing about expensive interest rates.
3. Bank of America Customized Cash Rewards Credit Card for Students
You can save money and take advantage of the 0% intro APR for 18 months with the Bank of America Customized Cash Rewards Credit Card for Students.
This card is devised for people with fair credit and limited history, so you don’t have to be upset about an annual fee.
Not only will you get a great rate, but you’ll also be protected from fraud thanks to its $0 liability guarantee, fraud monitoring, overdraft protection, and paperless statement option.
You can even add your card to your mobile device and use it when shopping in-store or in-app using Apple Pay®, Google Pay™, or Samsung Pay.
Plus, you’ll get a special online bonus of $200 cash rewards after spending at least $1,000 within 90 days of account opening.
And with every purchase you make afterward, you’ll receive 3% cash back in the category of your choice, 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases.
Pros and Cons of Bank of America Customized Cash Rewards Credit Card
- 0% intro apr on balance transfers for 18 months
- 17.74% to 27.74% (V) APR
- No annual fee
- $200 online bonus after making at least $1000 in purchases within the first 90 days of account opening.
- Earns cash back rewards can be used with Apple Pay, Google Pay, or Samsung PaySecurity features such as a $0 liability guarantee and fraud monitoring.
- Balance transfer fee
- Foreign fee
Why I recommend Bank of America Customized Cash Rewards Credit Card:
You’ll love this instant approval balance transfer credit card for students with fair credit and limited history.
You can take benefit of a great deal with a 0% intro APR offer, no annual fee, robust security features, and the comfort of using it with mobile wallets.
Plus, you can enjoy cashback rewards that make this card even more tempting.
4. TDECU Classic Mastercard
You can enjoy instant approval, and some of the best balance transfer credit card offers available when you choose the TDECU Classic Mastercard®.
With this card, you can get a 0% intro APR on purchases for 6 months and a 0% intro APR on balance transfers for 12 months with no annual fee or balance transfer fees.
You’ll also benefit from Mastercard Platinum Benefits, Fraud Protection, and EMV chip technology. Consolidating your debt is no-frills with this great offer, so don’t miss out!
Pros and Cons of Bank of TDECU Classic Mastercard
- 0% intro APR for purchases and balance transfers
- No balance transfer fees
- No annual fees
- Mastercard Platinum Benefits
- Fraud Protection
- EMV chip technology
- No rewards
- No rewards bonus
Why I recommend the TDECU Classic Mastercard:
You should consider the TDECU Classic Mastercard to consolidate your debt and take advantage of the 0% intro APR offers.
This card comes with no balance transfer fees or annual fees, making it an ideal choice for those who want to save money.
Furthermore, it boasts Mastercard Platinum Benefits, Fraud Protection, and EMV chip technology for added security.
With this card, you can enjoy a 0% intro APR for purchases and balance transfers. So don’t wait – apply now and start saving!
In conclusion, it’s essential to research and compare different balance transfer credit cards before selecting one.
Consider factors like annual fees, interest rates, rewards programs, and customer service when evaluating your options.
Take the time to study the Keypoint Credit Union Visa® Platinum, Unity Secured Credit Card, Bank of America Customized Cash Rewards Credit Card for Students, and TDECU Classic Mastercard to find the best one that meets your requirements.
Remember – we put in a ton of hard work so you can make an educated choice about your financial future!
- As a personal finance and credit cards expert, I provide valuable insights and advice on budgeting, saving, investing, and debt management. I am also an expert on credit card rewards programs and help readers make informed decisions about which cards are right for them. My goal is to help people improve their financial literacy and make better financial choices.
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