Look for cards that offer low — or even zero — balance transfer
fees during the introductory period.
The $ 99 annual fee applied on your first statement is a bummer, especially given that most travel rewards cards waive that
fee during the introductory period.
This feature seems like an outlier for most airline credit cards, as most waive
the fee during the introductory period.
Not exact matches
The 3 % balance - transfer
fee will eat into interest savings
during the
introductory period, and the no - interest offer on new purchases is shorter than for other top cards.
During an
introductory period of sixty days, there are $ 0 in balance transfer
fees; afterwards, the rate reverts to the standard $ 5 or 5 % (whichever value is greater).
It can make sense, considering that your only expense
during the
introductory period is the transfer
fee, which can range from 3 % to 5 %.
As an example if you are approved to transfer over $ 5,000 to the Chase Slate ® card and you make the transfer
during the
introductory balance transfer
fee period, you'd save $ 250 on balance transfer
fees.
While the balance you carry under a 0 % balance transfer offer won't accrue interest
during the interest - free
period as long as you make every minimum payment on time, credit card companies usually charge consumers a
fee for moving the balance from the old card to the new, 0 %
introductory offer card.
The Balance Transfer
fee has no maximum
during the
introductory period (first 6 monthly billing cycles); thereafter, this
fee will be a maximum of $ 99 per Balance Transfer.
Transferred balances are usually subject to transfer
fees which may be lowered or waived
during an
introductory period.
Of the 35 cards surveyed, 17 cards charged 3 percent, while another 10 charged that amount
during an
introductory period, then increased the
fee later.
«Look for the longest
introductory period, the lowest interest rate
during that time, and a very close to average interest rate when the intro
period ends,» Sherry says, adding that customers should see if they can get a balance transfer
fee waiver, too.