0% APR Balance Transfers—What About Fees

The most popular credit card offers out there today include 0% APR balance transfers. Consumers have the ability to transfer balance from other credit cards onto their new 0% intro APR credit cards and save money while lessening their credit card debts. However, are there any fees on these credit card offers?




Credit cards, both personal and business credit cards, are now being offered with a 0% introductory APR along with balance transfers options. Whether they're for personal use or to be used as business credit cards, they can offer the savings of a lot of money if you read the fine print and know exactly what you're getting. You already know about low interest and the importance of choosing credit cards that offer low APR rates AFTER the 0% intro APR period is up. You also know the importance of transferring balances off the credit cards that are currently costing you the most amount of money in interest, especially if they're not low interest credit cards. Another important factor to keep in mind is to learn how long your 0% intro APR period will last so can get these balances paid off during the 0% introductory period. When credit card offers of 0% introductory APR are first seen, many consumers rush to apply for them without reading all the fine print and wind up with a credit card that is not low interest at all. Don't fall into this trap. Be a smart shopper when it comes to credit cards and only select those offering low interest in addition to a 0% intro APR. Business credit cards offer the same options and should be chosen just as selectively. Don't forget to check on any fees these credit cards may include.
 
Credit cards with 0% APR balance transfers often charge a balance transfer fee. This fee on balance transfers is often a certain percentage of the amount that's being transferred, although there is usually a maximum amount they'll charge. Even with the maximum amount, this can be larger than you care to pay, especially if you're the owner of business credit cards offering the 0% intro APR and balance transfers. Not all credit cards will charge a balance transfer fee and some of the credit cards will waive this fee by offering some other bonus. Check these out carefully. You want a credit card that offers low interest with as few fees as possible. On the subject of credit cards and their fees, beware of credit cards that will charge an annual fee. There are far too many credit card offers that don't charge annual or balance transfer fees for you to select ones that do charge fees.
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