Significance

• In February 2010, credit card companies had to comply with new rules. One rule states that if you have accounts with different rates for types of purchases, payments above the minimum must go toward the balance with the highest rate. To prepare for any loss, credit cards companies started increasing balance-transfer fees, according to Kiplinger.
  
  

Considerations

• The addition of balance-transfer fees could make it more expensive for you to transfer your balance than to stay with your higher interest rate card. You must perform mathematical calculations to determine whether transferring will save you money.
  
  

Effects

• When you transfer your credit card balance, your credit score could go down, according to MSN Money. Transferring your balance to a card with a lower limit could make it appear you have used the maximum amount of credit available to you, which lowers your score.