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A one-time, 3% fee on the amount of each balance transfer will be charged at the time the balance transfer transaction is booked.
Each balance transfer must have a minimum value of $500; multiple transfers are allowed as long as the combined total of the transfer amount and fee does not exceed the cardholder’s credit limit. Given that there is a minimum value required for the balance transfer to receive this promotional rate, the minimum fee per balance transfer is $15.
To view the full Terms & Conditions, click here
How to Reduce Debt with a Balance Transfer
It’s important to determine whether a Balance Transfer is right for you by first assessing your debt, reviewing credit requirements, and understanding the terms of a balance transfer. You can visit your local Fusion branch for advice.
Determine the monthly payment you’re able to make and how many months it will take to pay off your balance. Aim to pay-off as much of your debt as possible before the promotional period ends to save money on interest fees.
Take into consideration interest rates, annual fees, and rewards points when choosing the card to transfer to. Your local Fusion branch can be of assistance when determining your needs. You can also apply online for a credit card.
You can do both steps in-branch, by calling cardholder services, or through the CardWise Mobile App on your mobile device or CardWise Online on your computer. A minimum transfer of $500.00 is required.
With the right planning, budgeting, and saving on interest, you will be able to reduce your outstanding debt significantly and possibly boost your credit score.
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