However, banks made up for better introductory deals by doing away with the $ 50 to $ 75 balance
transfer fee caps that were common during the heyday of the zero percent offer.
Not exact matches
When Jagmeet Singh, an Ontario MPP, introduced a private member's bill in May 2012 that called for a five percent
cap on money -
transfer fees in the province, he shed light on a relatively overlooked issue to most Canadians: remittance
transfers...
A
cap on
transfer fees would be better than a
cap on total salary payments, imo.
The
fee for Laporte, yet to win a
cap for France, takes spending by Premier League clubs this month to # 252m - a record for a January
transfer window.
Chelsea, Juventus and Paris Saint - Germain have all registered interest in Teixeira, who has not been
capped by Brazil but would be almost certain to obtain a work permit under new criteria that considers
transfer fee, wages and Champions League experience in applicants from outside the European Economic Area.
The fine print showed the
transfer was subject to a 3 %
fee, but
capped at $ 50, so I wrote a check to my brokerage account and deposited $ 19,950 into a money market fund earning 5 %.
But now, the tide has turned completely on these charges — a 3 % balance
transfer fee with no
cap or no maximum is now standard practice.
Also, in the past, these
transfer fees usually had a «
cap» or maximum
fee of up to $ 75.
The credit unions that did charge a balance
transfer fee often had a
cap on the amount that they were able to charge.
You're lucky if you can get a card with no balance
transfer fee because most companies charge an initial
fee to
transfer balances, which can amount 3 % -4 % of the balance and a
cap of $ 50 - $ 75 on the
fee.
There is zero annual
fee, and the interest rate on purchases and balance
transfers caps off at just 9.99 %.
These
fees are generally are percentage of the balance
transfer amount, but without a
cap on
fees for a large balance
transfer, they could end up being very expensive.
So, if your balance plus
fees exceeds your credit limit's capacity (or the $ 15,000
cap) you won't be able to
transfer the full balance.
The balance
transfer credit cards of 2010 came with higher balance
transfer fees and no
cap on those
fees.
Other times you're forced to pay expensive
transfer fees or deal with low
caps on the number of points you can
transfer in a year.
Balance
transfer fees, if they existed, were
capped.
According to CreditCards.com data, only 5 of 38 cards featuring a promotional balance
transfer offer also feature a
cap on
fees.
Regardless of banks» motives, most cardholders can now expect that the majority of balance
transfer offers arriving in their mailbox will not feature a
fee cap.
CreditCards.com's survey of 38 cards offering introductory balance
transfer offers revealed that many banks have increased the
fees associated with the balance
transfers and removed
caps that limited those
fees.
The Pew report in July found even starker numbers — saying that only 1 percent of credit cards issued by the 12 largest American banks currently feature a
cap on balance
transfer fees.
Practically, the provider negotiates service provider
fee reductions,
transfers group discounts to plan members and
caps fees, among other things.