DCU axes its 0% APR balance transfer offer, replaces it with new, longer offer

Usually on January 1st each year, Digital Federal Credit Union offers its members 0% APR balance transfers. As an added bonus, there was no balance transfer fee.

In 2024, DCU is introducing two changes to its yearly balance transfer promotion. The APR has increased from 0% to 9.99%, and unlike previous years, where members had until their July or August statement to settle balance transfers, the deadline is extended until November of 2024.

This offer, while a total disappointment for those who had been waiting all year for it, is not completely useless. With inflation, DCU, like many other financial institutions, raised their interest rates drastically over the past few years. With credit card interest rates starting as high as 20%, cutting interest payments in half can be a breath of fresh air for those needing to carry a balance.

The offer, although not advertised yet, can be seen at https://www.dcu.org/search-redirects/visa-balance-transfer-promo.html. The reduced rate is only valid for balance transfers completed through DCU’s online balance transfer tool between 01/01/24 and 02/29/24.