 TITLE: How to Avoid Balance Transfer Credit Card Fees CONTENT: What to Keep in Mind When Transferring a Balance\n------------------------------------------------\nIf you're considering getting a balance transfer card, here are some things to consider.\n1.  Can you pay off the transferred balance before the 0% introductory APR period ends? If not, interest on any remaining balance will start to accrue. Depending on the regular APR the new credit card charges, you might end up paying more in interest than if you hadn't transferred a balance.  \n    To avoid paying interest, try to avoid using the balance transfer card for any new purchases and focus on paying it off before the introductory period expires. According to a recent Experian survey, most people who use balance transfer cards are successful at paying them off during the promotional period.\n2.  Does the savings in interest outweigh the balance transfer fee? Calculate what the balance transfer fee will be and weigh whether paying that additional cost is worth the savings in interest. In most cases, the answer is yes, but if you're transferring a large balance to a card with a 5% balance transfer fee, your savings may be reduced.  \n    The only way to avoid a balance transfer fee is to find a card that doesn't charge one. Such offers are generally reserved for people with good to excellent credit. If you're not sure you fit that description, check your credit score to find out.\n3.  Have you read the fine print? Balance transfer fees are typically 3% to 5% of the balance you transfer. Also look for extra costs such as annual fees, late fees and foreign transaction fees that come with the card.  \n    And do keep in mind that a card that offers 0% APR on balance transfers may not offer 0% APR on purchases. If you plan to use the new card for purchases, make sure you are clear on whether new charges will accrue interest and what that interest rate will be. END