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Most balance transfer cards charge balance transfer fees of 3 percent to 5 percent of your balance. So, if you transfer $5,000 to a balance transfer card, you could pay an extra $150 to $250 in fees.
At that point, Card B’s balance is cleared out — but Card A has $1,000 added to its balance (plus any associated balance transfer fees) since you just used a balance transfer check to borrow ...
Don’t forget to factor your balance transfer fee into the new balance on your card. This fee can be anywhere from 3 percent to 5 percent of your transferred balance, depending on the card.
Initiating a balance transfer isn't free. Nearly all balance transfer credit cards will charge a balance transfer fee, which is typically 3% to 5% of the transferred balance. For instance, if you ...
A balance transfer is a transaction that moves existing debt from one credit card to another card. If you transfer the balance from a card with a higher APR to a card with a lower rate, or even an ...
So, let’s say you transfer $5,000 in high-interest credit card debt to a new balance transfer card that charges a 3 percent balance transfer fee. In this case, you would begin repayment on your ...
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