PSA: You Can Negotiate a Fee to Transfer Your Credit Card Balance
Balance transfers can help you consolidate your credit card debt as well as reduce your debt at the same time, provided you get a good promotion and pay off your balance before it runs out . However, they come with fees – fees that can be reduced.
Bankrate notes that at a typical 3% commission, a $ 20,000 transfer would cost $ 600. Any amount of that $ 600 that you could cut would be great. The finance site recommends always calling to see if there is a better deal and keeping a note of the fees carefully, as some offers have fees capped at a certain amount, while other offers have unlimited fees. Also ask when there may be new transfer offers.
During negotiations, Bankrate suggests asking to waive the entire commission. While the company is unlikely to provide this, it’s worth giving it a try and then asking for a commission cap.
Read the article at the link below to learn more about how to lower your commission.
You can negotiate balance transfer fees | Bank rate