Maria Adams, Credit Cards Moderator
@m_adams
The Macy's Credit Card balance transfer fee is 5% (min $10). This card is not a good choice for balance transfers due to the combination of its balance transfer fee and relatively high balance transfer APR: 33.24% (V), which applies only for a limited time. Balance transfers must be completed within the first four months of opening your account. After this period, transfers are no longer allowed.
There are a few credit cards with no balance transfer fee on the market. There are also a lot of 0% APR balance transfer cards. Picking one of these cards could help you save big on interest while you pay off your debt.
Use WalletHub’s Balance Transfer Calculator to see exactly how much you could save with the right balance transfer credit card.
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People also ask
How 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.
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read full answer by Cameron DiGiovanni, WriterDo 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.
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read full answer by WalletHub, Financial CompanyCan I transfer a credit card balance to a bank account?
You can’t transfer a credit card balance to a bank account because the balance on your credit card is a debt. If you want to transfer your credit card balance to another credit card, however, you can do that with a balance transfer. You can also transfer available credit from a credit card to a bank account by doing a cash advance.
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