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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
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.
Key takeaways. A balance transfer fee is what credit card issuers charge when you transfer debt from one credit card to another. Balance transfer fees are typically 3 percent or 5 percent of the ...
While many credit card issuers offer 0% interest balance transfers, some issuers also charge a transfer fee, which could range from 0–5%. As a result, consumers should evaluate the balance transfer interest rate during the promotional period, the length of the promotional period, and the balance transfer fee when deciding on which balance ...
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.
Most balance transfer credit cards charge between 3 percent and 5 percent, which means you’ll pay between $30 and $50 in fees for every $1,000 you transfer. Balance transfer checks can have ...
For example, if you transferred $1,000 of debt to a card with a 5 percent balance transfer fee, you would owe a $50 balance transfer fee. Use Bankrate’s balance transfer calculator to ensure ...
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 a balance transfer fee. This fee usually equates to ...
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