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Finance & Accounting

WalletHub: No Balance Transfer Fee Credit Cards



WalletHub recently published an article featuring insight from Pearl Steinbuch, Senior Lecturer of Markets, Public Policy, and Law. Pearl spoke on “no balance transfer fee” credit cards and what consumers should consider most when selecting a credit card.

I think that many people focus on the promotional 0% APR, more than the balance transfer fee. However, consumers must realize that if there is a balance transfer fee, then the effective rate of the promotion is not actually 0%. For example, if the balance transfer fee is 5% then you are paying 5% of your entire transferred amount, which is added to your balance upfront.

Read the full article here.

J.P. Matychak is Associate Dean for Strategic Initiatives & Chief of Staff at BU Questrom School of Business. He also serves as the managing editor for Insights@Questrom and host of the Insights@Questrom Podcast. J.P. holds a BS in Business and Economics from Lehigh University, an MEd in Higher Education Management from the University of Pittsburgh, and an EdD in Administrative and Policy Studies in Higher Education from the University of Pittsburgh. J.P.’s research focuses on traditional strategic planning, new methods for strategic planning that infuse agile and design thinking methods, and leadership in higher education.

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