0 percent balance transfer credit cards have a fee associated with the transfer. This is how the credit card companies will make their money. If you want to find the best deal on the market for a 0 percent balance credit card then you need to compare your options. You don’t want to just compare your options though. You also need to speak with a customer service representative.
We will offer an example on finding the best deal. You receive a credit card offer in the mail. It is offering a 0 percent balance transfer credit card deal for 12 months, at a 3 percent fee. It also has a purchase rate deal that is not really of interest.
You know the company the deal is through. However, you have 5000 pounds you want to transfer. With a 3 percent fee that is 150 pounds you have to pay for the transfer. In a year you pay 850 pounds in interest because you have a 17 percent APR. You are saving 750 pounds only if you can pay the 5000 pounds off in a year. Otherwise you are going to pay another 150 pounds next year to get a new transfer.
Now you decide to ask some questions of the credit card issuer. You ask them about the deal you have been sent. You also tell them what you are looking for and ask if they have a better deal. This is how to find the best fee for a 0 percent balance transfer credit card. Depending on your situation you could find a no fee, no interest for 12 months balance transfer credit card. It will depend on the company and your credit scores/ history. The best customers get the best deals, but only if you ask for what you want.
