How much will you have to pay for balance transfers?
Credit card balance transfer fees can drain funds from your account. If you're unable to calculate the fees properly, then you may have to pay a huge amount to the credit card issuer. Usually, card issuers charge a specific percentage of the overall transferred amount. Still, to be on the safer side, you can ask if there are extra charges. For instance: if a bank charges 4 percent fee, then you've to pay $400 for transferring $10,000 to the new low rate card. Don't forget to ask about how much will the interest rate increase after the introductory period is over. Usually, the rate gets doubled after the promotional offer expires.
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