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Total interest paid. $0. $916. Total cost. $5,150. $5,916. ... Balance transfer fees ranging from 3% to 5% of transferred amounts. Late payment fees ranging from $29 to $40 a month.
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 ...
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 ...
Some cards charge an intro balance transfer fee of 3% for transfers made in the first 60 or 120 days. After that, the fee goes up to 5%. On $5,000 in debt, that's the difference between paying ...
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 ...
The most important reason to pursue a balance transfer credit card is to take advantage of a low or 0 percent introductory APR offer. By transferring your debt to this new card, you start saving ...
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