Balance transfer fee
Cards & borrowingA fee charged when you move debt from one credit card to another.
Overview
Balance transfer fees are often a percentage of the amount moved.
Even with a 0% rate, the fee affects total cost.
Why it matters
- It increases the cost of transferring balances.
- It can reduce the savings from a 0% offer.
- It should be compared across offers.
FAQs
Do all balance transfers have fees?
No. Some offers have no fee, but the rate may be higher.
Is a balance transfer fee charged upfront?
Usually yes. It is added to your balance at the time of transfer.
Related terms
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