000—about $167 per month. Suppose a credit card issuer offers you a promotional interest rate of 2% for an introductory period of 12 months, with a balance transfer fee of 1%. If you take that deal, the total cost of moving the entire $10,000 is ...
Is a balance transfer fee worth it? If you have a significant amount of credit card debt, the 3% balance transfer fee (or sometimes even a 5% fee) is absolutely worth paying when transferring your balance to a card that has a 0% intro APR offer, but onlyif you still need time to pa...
However, while a balance transfer credit card can help you become debt-free, it almost always comes at a price — typically, in the form of balance transfer fees. Although you should consider thepros and consof a balance transfer fee prior to applying for a new balance transfer card, remem...
However, there are still no fee balance transfer offers out there if you look hard enough, and even with the fees, balance transfers can save you some serious money. The key is to determine whether abalance transfer makes sensefor you (fee and all) by looking at your current interest rate...
Balance transfer example 1 Say you have a $5,000 balance that you plan to transfer to theDiscover it® Cash Back Card. To do so, you’ll pay a 3% balance transfer fee. To find the fee, you multiply $5,000 by 0.03 to get $150 and add it to the original amount. So once the...
You may be charged a balance transfer fee Your balance transfer fee is usually worked out as a percentage of the balance you’re moving across. If you make multiple balance transfers, you’ll likely be charged for each one. You’ll also pay interest, depending on your rate ...
transfer, carefully review the terms and conditions associated with the selected Capital One credit card. Pay close attention to the balance transfer fee, promotional interest rate duration, and any annual fees to ensure a clear understanding of the potential costs and benefits of the transfer. ...
It’s important to note that a balance transfer fee is typically considered a part of your transferable balance, making your “true” limit slightly lower than you may have expected unless you have one of the best cards with no balance transfer fee. If you have a card with a $5,000 bal...
Balance transfer feesexpandable section You’ll usually be charged a fee for each individual balance transfer made. This will be a percentage of the amount transferred and will be added to the balance. For example, a transfer of£1,000 with a 3% feewould result in a£30 transfer fee. ...
A balance transfer fee will likely apply Depending on the terms of the card you’re considering and its current promotion, you may have to pay abalance transfer fee. This fee is usually 3 percent to 5 percent of the total transfer amount and may be subject to minimum fees. For example,...