A balance transfer fee is a fee you have pay to the credit card issuer for each transfer you make to the card. Typically, it will range from 3% to 5% of the amount of each transfer.
When considering a balance transfer, make sure to do the math and understand how much you'll need to pay for the balance transfer fee. For example, if you transfer $1,000 to a credit card with a 5% balance transfer fee, the fee amount would be $50. So, after the transfer goes through, you'd have a balance of $1,050 on your balance transfer card.