What is a balance transfer fee?
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In short: A one-off charge of typically 2%–4% of the debt you move to a new credit card. A £3,000 transfer at 3% costs £90 added to your new balance immediately — factor this into whether the 0% period saves money.
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Reviewed by Kaiser Khan
Some cards offer fee-free transfers for shorter 0% periods. Longer promos usually charge higher fees.
Compare total cost: fee plus whether you can clear the balance before the standard APR applies.
See balance transfer cards explained and our credit card payoff calculator.
Primary source: legislation.gov.uk/ukpga/1974/39
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