It is usually a percentage of the amount being transferred, and can range from 3-5%. This fee is commonly used by credit card companies as a means of generating revenue.
One important aspect of credit card financing is the balance transfer fee, which is incurred when a customer moves an existing balance from one card to another. This fee is typically a percentage of the transferred amount, typically ranging from 3-5%. Credit card companies often use this fee as a source of income.
