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Author: chkNYC Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311084  
Subject: Transaction Fees Date: 11/7/2006 4:32 PM
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I apologize if this has been discussed here recently but I wanted to alert folks to the fact that most credit card companies have changed their policy regarding "convenience check" or "balance transfer" transaction fees.

In the past, most offers I received for zero or low percentage fee transfers included a transaction fee of 3% with a minimum of $10 and a maximum of $75. Recently, however, I have noticed that there no longer is a maximum transaction fee on most of these offers. So even if you have a zero percentage fee offer, the transaction fee is 3% of the amount requested - with no maximum. This can be a big difference - particularly when you are planning on repaying the advance in a rather short period of time.

I recently used a 1.99% offer (which did have a maximum transaction fee of $75) instead of a zero offer (which had no maximum on the transaction fee).

I know it's already been said but please be sure to read all the fine print. It can make a huge difference!

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