March 30, 2023

Best Credit Cards With No Balance Transfer Fee of June 2021

How Can You Avoid Balance Transfer Fees?

A balance transfer fee is one of the many rates and fees that is required to be listed in a credit card’s terms and conditions. In fact, federal regulations dictate 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’s likely to be either 3% or a percentage of the amount transferred. The most valuable balance transfer offers are cards that have a 0% APR promotion. By law, these promotional offers are required to be at least six months long, but some of the most competitive offers last as long as 21 months.

Nearly all of these promotional financing offers have a balance transfer fee. However, many cards that apply the standard interest rate to balance transfers will do so without a fee.

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