Cameron DiGiovanni, Writer
@cdigiovanni20
The BankAmericard credit card balance transfer fee is 3%. The balance transfer fee on the BankAmericard credit card is assessed when an eligible debt is moved to the card, and the fee amount will be automatically added to the balance.
This credit card is great for balance transfers, as it offers an introductory APR of 0% for 18 billing cycles for any balance transfers made in the first 60 days, which can help cardholders save money on interest. For reference, the average balance transfer card offers low interest for 13 months and charges a transfer fee of 2.63%. But keep in mind that a regular APR of 16.24% - 26.24% Variable will apply to the balance after the intro period ends.
There are very few credit cards without a balance transfer fee, so you shouldn’t rule out a balance transfer card simply because of the fee. Instead, you should take all factors into consideration using WalletHub’s Balance Transfer Calculator.
People also ask
How much is the Bank of America credit card balance transfer fee?
The Bank of America balance transfer fee is either 3% or 4% of the amount transferred, depending on the card. One of the best Bank of America cards for balance transfers is the BankAmericard® credit card, as it offers an introductory balance transfer APR of 0% for 18 billing cycles for any balance transfers made in the first 60 days (16.24% - 26.24% Variable, based on creditworthiness, thereafter).
Most Bank of America credit cards will allow you to transfer a balance. But some cards won’t offer an introductory rate and will apply interest at their regular APR,...
read full answerHow can you negotiate a balance transfer fee?
To negotiate a balance transfer fee, call the credit card issuer’s customer service number before you apply for the card and make your case. People with a good, long-standing relationship with the issuer and a credit score that exceeds the card’s approval requirements will have the best chance of getting the fee waived.
Negotiating for a lowered or waived balance transfer fee may save you hundreds of dollars, but it’s more likely to be...
read full answerDo balance transfers hurt your credit?
Yes, balance transfers do hurt your credit when you open a new credit card account to do the transfer. Applying for a balance transfer credit card will generate a hard inquiry on your credit report, causing a slight dip in your credit score.
If you transfer a balance to an existing credit card account, however, there is no hard inquiry and no credit score damage. A balance transfer could still result in high credit utilization, though, and allow you...
read full answerDid we answer your question?