balance transfer fee
Card-switching cost
A balance transfer fee is a charge imposed by a credit card company when you move debt from one card to another, typically 3–5% of the transferred amount.
Cards advertise low or zero interest on transfers to attract customers, but the fee offsets some savings: The 0% APR looked great until I saw the balance transfer fee.
- credit cardBorrowed-funds payment tool
- card issuerProvider of payment plastic
- APRYearly borrowing cost
- debtMoney owed another
- debt consolidationCombining multiple balances owed
percentage · interest rate · teaser rate · fine print · promotional · introductory · consolidation · payoff · minimum payment · annual · charge · bank · statement · owing · zero percent · grace period · penalty · billing cycle
balance transfer feesign-up bonus
Reward for registering
welcome bonus · fee waiver · statement credit · cashback · promotional rate
balance, transfer, fee, balances, balanced, balancing, balancer, imbalance, unbalanced