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Balance transfer fees are typically 3 percent to 5 percent of the transfer amount. You should also consider any other fees , including if the card comes with an annual fee. Intro APR on purchases.
Use Bankrate’s balance transfer calculator to compare options. One note: You usually can’t transfer a balance from one card to another card with the same issuer.
Apply for a Balance Transfer Card: First, apply for a card that offers a 0% APR on balance transfers. You’ll need to meet the credit score requirements, so check your credit before applying.
Most balance transfer cards charge balance transfer fees of 3 percent to 5 percent of your balance. So, if you transfer $5,000 in debt to a balance transfer card, you could pay an extra $150 to ...
Starting balance. Monthly payments. Months to pay off card. Interest paid. Regular credit card. $5,000. $300. 20. $949. Balance transfer card with fee applied. $5,150
There's normally a balance transfer fee, which is charged by the card that receives the transfer. The standard amount is 3% to 5%. On a $5,000 transfer, the balance transfer fee will likely be ...
For example, if you were to transfer $10,000 in credit card debt to a balance transfer card, your fee might be 3 percent of your balance ($300) or 5 percent of your balance ($500) depending on the ...
With a balance transfer to a 0% card, even with a 3% transfer fee, you could pay off your debt in 32 months and only pay about $700 in interest. Thus, in this scenario you can save over $3,900 in ...
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