What does Balance transfer fee mean?
The fee charged to transfer a credit card balance from one account to another is also called a balance transfer fee. The amount charged by each credit card company differs, it can be anywhere between one and five percent of the balance amount. There are instances where the fee has no maximum amount, or cap, depending on the company in question. Since this fee varies from one credit card issuer to another customers are advised to contact their credit card company and ask about their specific fees.