How can you avoid balance transfer fees?
A balance transfer fee is one of several rates and charges that must be listed in the credit card terms and conditions. In fact, federal regulations determine the format of these disclosure tables, even the font size of the most important rates and fees. If a card has a balance transfer fee, it will be listed in the second part of the disclosure table under “Transaction Fees”.
If a card has a balance transfer fee, it is likely to be 3% or one percent of the transferred amount. The most valuable balance transfer offers are cards with 0% APR promotion. Ideally, these promotional offers should be at least six months long, but some of the most competitive offers last up to 21 months.
All of these promotional financing offers have a balance transfer fee. However, many cards that implement the standard interest rate to balance the transfer will do so without a fee.