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  1. One thing to remember when doing a balance transfer is subtract the fee from your original requested amount. Do not transfer $10000 if that is the max. Make sure you remember to subtract the fee. And transfer 9500.00 etc. What the banks like to do is hit you for an over the limit fee and charge you interest for the overlimit amount and penalty. For instance if your max card limit is 10000 and you transfer 10000. Let’s say your transfer fee id 3 %. Now you owe them 10300. You are 300.00 over your limit and now they will hit you with an additional penalty of lets say 25.00 for being over. Now you owe them 325.00 and they will charge you regular charge card interest for that transaction and you will be charged that intrrest until your 0 percent original amount is paid off.

  2. Even if all the numbers pan out in favor of a balance transfer, you still have to qualify. That means you should have a good idea of what your credit looks like before applying.

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