Balance transfer fee

schoey123

Hi all,

Sorry this has probably been asking hundreds of times.

When you transfer a CC balance to a new CC and you are charged a balance transfer fee. Do you have to the pay the fee with cleared funds or can it be rolled up onto the new CC ?

Thanks

bigadaj

I believe it can be rolled up, however there have been reports that this then isn't taken into account for a direct debit, ie you may need to pay it separately if it is a one off charge. If you don't then you could find you're zero or low rate deal being cancelled.

thenudeone

The BT is added to the amount owing on the new card.

so if you transfer a balance of £1000, your new CC will have a balance of £1030 (if the fee is 3%)

david39

so if you transfer a balance of £1000, your new CC will have a balance of
£1030 (if the fee is 3%)

- and in many cases, the £30 is not classed as part of the interest-free sum so, if you are paying interest on an earlier balance on the card the £30 gets added to that, not onto the interest-free balance.