Balance Transfer Fee

Explanation: A fee that might be charged when you transfer a credit card balance from 'Credit Card A' to 'Credit Card B'.

This fee is charged by the credit card that receives your transferred balance (i.e. 'Credit Card B,' in this example). There is never a fee charged by 'Credit Card A.'

Our Thoughts: Check the credit card terms and conditions for the exact fee amount. The most common fee amount is 3% of the amount of the balance that gets transferred (i.e. $30 for every $1,000 that you transfer).