A credit card issuer charges a balance transfer fee to transfer a balance from another creditor. Learn the pros and cons of balance transfers.
Vault’s Viewpoint on Balance Transfer Fees ; The majority of balance transfer credit cards charge balance transfer fees between 3% to 5% of the debt amount transferred. ; Balance transfer fees are added upfront to the debt amount moved to a new card, thus increasing the person’s debt load off the bat. ; Having ample time to pay down debt at 0% APR can make paying a balance transfer fee worth it despite the cost.
Explore the UK credit card market ; Find the right balance transfer card for you ; Learn how to use credit safely & efficiently
Written by India Davis and Garrett Yarbrough ; Edited by Nouri Zarrugh ; Reviewed by Beverly Harzog
Take control of your finances and enjoy 0% interest on balance transfer fees with our Everyday Credit Card.
The introductory rate may be as low as 0% and last anywhere from six to 18 months. The... with no interest and just a fee to transfer the balance. That said, details and costs associated...
Save money on credit card interest · If you transfer a balance from a high-interest credit card to a Discover Card with an introductory 0% APR balance transfer offer, you can use the money you save on interest charges to pay down your debt. Pay down your current credit card debt · When you consolidate all your higher-rate credit card debt--or other outstanding debts--with a Discover balance transfer offer, you end up with a single monthly payment and may reduce how much you pay in interest i...
With an APR as low as 11.00% and no annual or balance transfer fees, our low rate credit card is great for large purchases you want to pay off over time.
That means you’re currently paying $900 a year in interest. Sometimes you can find a promotion with no balance transfer fee and a 0% introductory period APR, but let’s assume you have...
Annual Fee : $0, Regular APR : 17.74% – 27.74% Variable, Intro Bonus : N/A, Credit Score : Good – Excellent