Balance Transfer Offers

I am amazed at how many balance transfer offers I get in the mail. I feel lucky because my mailbox locks. I feel sorry for people who have an unlocked mailbox. Anyone could steal them right from the mailbox and go to town screwing up their credit!

Most of the credit card companies have wised up and now charge a balance transfer fee which can be up to 3% of the entire amount transferred. When I transferred my balance to Discover last year at 0% they offered the transfers for a fee of $29 each. I made transfers from 3 different cards so it cost me $87 total. Since then I have received $80 in rebates which helps to offset the transfer fees and the small amount of interest I have paid on purchases in that time.