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Most credit card issuers charge a balance transfer fee upfront. Usually it’s the greater of a percentage of the debt or a flat fee. For example, 3% of the balance or $20, whichever is higher.
With a balance transfer, you move your credit card debt from a credit card with high interest to your new card for interest-fee payments for a set period of time, often anywhere from 12 to 21 months.
Many credit card issuers offer balance transfer credit cards with introductory 0 percent annual percentage rate (APR) periods that allow you to pay down what you owe interest-free for periods of a ...
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
0% Balance transfer: 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days of opening your account, then 16.24% - 26.24% thereafter, plus a balance transfer fee of ...
The balance transfer fee. Your card’s overall credit limit is the maximum amount you can put on the card. ... The best balance transfer credit cards offer introductory 0 percent APR periods of ...
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