What is Balance transfer fee?

A balance transfer fee is what a card charges for moving credit you already owe from another card onto it, so you are not repaying at the old rate. It is a one-off charge rather than an ongoing cost, and it makes moving a balance worthwhile only when it costs less than the interest you would pay. AffinityPlus Credit Union has no such charge, at 0%. The other cards charge 3% at ANZ Credit Cards and Aqua Card, 5% on the American Airlines card, and 3.15% at Barclaycard.