As it became more and more apparent that the Coldwater, under my seamanship, was weathering the tempest and giving promise of pulling through safely, I could have sworn that I perceived a shade of annoyance and disappointment growing upon his dark countenance.
Definition. A charge incurred when switching the outstanding amount due from one credit card account to another. A balance transfer fee increases the cost involved in shifting credit card balances, and such fees can range from between two and four percent of the balance transferred, or they can be a flat charge.
Youâll pay a fee for each transfer, which is added to your balance. The fee will usually be between 1.9% and 2.9% of the amount you transfer. To give you an idea of what your fee could be for different transfer amounts, take a look at our examples.