A 0% APR balance transfer is not as good if you have to pay a 3% balance transfer fee just to get access to the money. Luckily all the cards listed on zero fee balance transfer have been checked and have no listed balance transfer fee. If any of the say that there is a fee, check the fine print because you will probably see “Balance transfer fee has been waived for this offer.”
Why is a 3% fee bad? Well, it’s not bad if you have a current balance transfer at 19.99% or even 9.99% (or heck, even 3.99%), but if you’re looking to play some sort of balance transfer arbitrage game then seeing that 3% fee is going to put a damper on your day.
So, be on the look out for this type of fee before you apply for a card because the savings might not be as sweet as you thought it would be.
Post a Comment