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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.
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.
A balance transfer is when you move your balance from one credit card to another offering a lower or 0% annual percentage rate (APR) for a set period of time, usually six months to up to two years ...
Let’s assume you transfer it to a balance transfer card with a 0 percent intro APR offer for 18 months and a 3 percent balance transfer fee. Additionally, let’s say your current card has 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
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. If you have a balance on a ...
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