 TITLE: How to Avoid Balance Transfer Credit Card Fees CONTENT: When you transfer debt from a credit card or loan, such as an auto loan, payday loan or home equity line of credit, to a new credit card to get a lower interest rate, you'll likely be charged a balance transfer fee. This fee amount is determined when you initiate a balance transfer and automatically becomes part of your outstanding balance.\nOnce you're approved for a balance transfer card, the credit card company will confirm your credit limit. When you ask the card issuer to transfer your eligible debts to the new card, they will either send you a check for the amount being transferred or pay that amount to the lender(s) directly. Your new credit card's balance will reflect the amount you transferred plus the balance transfer fee (typically 3% to 5% of the amount transferred).\nWhile it's not impossible to find a card with no balance transfer fee, they are somewhat rare. Instead, it might be best to consider your reasons for a balance transfer, whether the fee is worth it, what benefits you'll get from your balance transfer card and what other alternatives may exist. END