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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 ...
To calculate what monthly payment to aim for, use Bankrate’s credit card payoff calculator. ... I had a balance transfer fee of $200 and an intro APR period of 21 months. So I divided $4,200 by ...
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 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 ...
Don’t forget to factor your balance transfer fee into the new balance on your card. This fee can be anywhere from 3 percent to 5 percent of your transferred balance, depending on the card.
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.
On the other hand, if you transfer that debt to a 0 percent intro APR card with a 3 percent balance transfer fee, you can pay $344 monthly to pay off your debt in the same time frame and without ...
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