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.
The typical fee is about 3%, with a minimum of Â£5. If you transfer a debt of Â£1200, you could therefore pay a fee of Â£36. You should factor the fee into any calculations, but donât let it put you off completely as many people can still save money with a balance transfer credit card.