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Balance Transfer Fees

Balance transfer fees are charges that are assessed by a credit card issuer when a cardholder transfers the balance of one credit card to another credit card. These fees are typically a percentage of the amount of the balance transfer, and they are designed to cover the costs associated with processing the transfer and transferring the funds. Continue Reading Below

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Encyclopedia Articles

Discover the definition of financial terms related to balance transfer fees.

Balance Transfer: Definition, How It Works, and Key Terms Thumbnail

Balance Transfer: Definition, How It Works, and Key Terms

Andrew Latham

Learn About Balance Transfer Fees

Thumbnail for Blog Article: Credit Card Fees Explained: Every Fee You Might Pay and How to Avoid Them

Credit Card Fees Explained: Every Fee You Might Pay and How to Avoid Them

Andrew Latham

Thumbnail for Blog Article: How Balance Transfers Work: Fees, Timeline, and When It's Worth It

How Balance Transfers Work: Fees, Timeline, and When It's Worth It

Andrew Latham

Thumbnail for Blog Article: Struggling with Record-High Credit Card Debt? Try This Method to Pay it Off

Struggling with Record-High Credit Card Debt? Try This Method to Pay it Off

SuperMoney Team

About Balance Transfer Fees

Balance transfer fees are charges that are assessed by a credit card issuer when a cardholder transfers the balance of one credit card to another credit card. These fees are typically a percentage of the amount of the balance transfer, and they are designed to cover the costs associated with processing the transfer and transferring the funds. Balance transfer fees can vary depending on the credit card issuer and the specific terms of the card. Some credit cards may waive balance transfer fees for a promotional period, while others may charge a flat fee or a higher percentage for balance transfers. It is important for consumers to understand the balance transfer fees associated with a credit card before they decide to transfer a balance.