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.
1 Balance transfer fees A 3% charge is not uncommon for transferring the balance on your old credit card to a new one, usually to get a lower interest rate. 2  For every $1,000, it would cost you $30. 3  Transfer $10,000 and you could pay $300.