![]() ![]() To put that in perspective, if you transferred over $3,000 to a card with a 5% balance transfer fee, you'd pay $150. Balance transfer fees: When you transfer debt from a high-interest card to one that offers a 0% introductory APR period, most card issuers charge a balance transfer fee, which is often between 3-5% of the amount of each transfer.To keep your costs low, look for a card that has a low annual fee or no fee at all. Annual fee: While some balance transfer cards charge an annual fee, not all do.If you tend to carry a balance, it’s worth shopping around for a card that has a lower regular APR to reduce interest charges. The normal interest rate on credit cards can be quite high. Regular APR: Once the promotional APR period ends, the APR will revert to its regular fixed or variable APR.Ideally, you want to choose a card that offers a 0% intro APR period of 12 to 18 months so you have over a year to pay down your balances. ![]() ![]() Length of promotional balance transfer offer: If you have a substantial amount of debt, you want the longest promotional APR offer possible to give you more time to pay off your debt without paying interest charges.When evaluating credit card offers, consider these factors: Many credit cards are advertised as balance transfer cards, but they vary widely in terms of their promotional periods, fees, and regular APR. See more balance transfer cards How to pick the right card for you ![]()
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