In our blog, what are common fees for balance transfers , we explained that most credit card companies charge a percentage of the balance transfer amount without applying a cap. For example, if you transfer $1,000 and incur a 3% transfer fee, the amount that will show up on your credit card will be $1,030 (principle transfer of $1,000 + $30 transfer fee). Three percent is a common transfer rate across issuers. The only Bank that I’m aware of with a cap on credit card balance transfers is Chase (e.g. $75). Typically, the amount you owe per month on your transfer will be 2% to 3% of the transferred balance. So, if you transferred $10,000 using a …

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Balance Transfer vs. Cash Advance Fees

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