A credit card issuer charges a balance transfer fee to transfer a balance from another creditor. Learn the pros and cons of balance transfers.
Balance transfers are a useful financial tool but often come with fees. Here's how to save with the best credit union cards offering no transfer fees.
Credit card issuers charge a balance transfer fee on the total amount transferred from one credit card to another, but that shouldn’t steer you away.
Balance transfer fees are added charges you have to pay to consolidate debt. Find out how these fees work and how they factor in when you transfer a balance.
What is a balance transfer? · Who should do a balance transfer? · Who CAN do a balance transfer? · How to do a balance transfer · How much can you save with a balance transfer?
A balance transfer fee is the cost some cards charge, often between 3% and 5%, when you transfer your debt from one card to another.
Written by India Davis and Garrett Yarbrough ; Edited by Nouri Zarrugh ; Reviewed by Beverly Harzog
Credit card issuers charge a balance transfer fee on the total amount transferred from one credit card to another, but that shouldn’t steer you away.
Two big factors to consider when deciding whether to use a balance transfer credit card: the 0% APR promotional period and the balance transfer fee.
A balance transfer fee is the price you pay to move a debt from one creditor to another. The fee may be worth paying if you’re transferring debt to a lender that charges a lower interest rate.