How much does it cost in fees to transfer a $1,000 balance to a credit card?

It costs $30 to $50 in fees to transfer a $1,000 balance to a credit card, in most cases, as balance transfer fees on credit cards usually equal 3% to 5% of the amount transferred. Some credit cards even have no balance transfer fee, but it’s rare for cards that do this to also have a 0% introductory APR on transfers.

Balance transfer fees can vary depending on the financial institution issuing the credit card, as well as the terms and conditions of each specific card. The most common balance transfer fee is 3%, according to WalletHub’s balance transfer guide.

Common Fees for Transferring a $1,000 Balance to a Credit Card

• 0% balance transfer fee: $0
• 3% balance transfer fee: $30
• 4% balance transfer fee: $40
• 5% balance transfer fee $50

Some credit card issuers may charge a flat minimum fee on balance transfers. For example, a credit card issuer may charge a minimum $5 or $10 fee for each balance transfer when the percentage fee does not amount to more. When transferring a balance of $1,000, though, it’s likely the percentage you pay will always exceed the minimum fee.

Finally, it's also important to consider other factors when deciding whether to transfer a balance to a credit card. For example, the interest rate on the new card should be lower than the interest rate on the original card to make the transfer worthwhile. Additionally, the length of time for which any promotional 0% interest rate applies should ideally be long enough to allow you to pay off the transferred balance in full before it expires.

You can use WalletHub’s balance transfer calculator to see how much a card’s terms will save you.