Balance Transfer Fee. Youve got a 2000 outstanding debt on a credit card for example with an interest rate of 189. Key takeaways a balance transfer fee is a charge imposed by a lender to transfer existing debt over from another institution.
Collect tesco clubcard points when you spend. When searching for a 0 balance transfer credit card you should look at the length of the 0 period and the size of the balance transfer fee. Ad check longest 0 balance transfer credit card duration.
I fee as a percentage of debt shifted.
While the most you can transfer is usually 93 of your credit limit leaving some room for any potential interest or fees. With a balance transfer the minimum you can move over is usually 100. Although initially there will be no interest payments on your debt balance transfer credit cards will often have a small fee that you will have to pay in order to transfer the balance of your other credit cards over. Compare uk credit cards that offer no fee balance transfers with 0 interest.