I received an email from a visitor regarding the issue of maximum balance transfer fees. In general, it is safe to assume the maximum balance transfer fee is $75 or 3%, whichever is greater. However, never assume anything when it comes to credit card companies.

As I’ve reported recently, a number of credit card companies have lifted the ceiling on balance transfer fees. Individuals transferring less than $2500 need not be concerned, as the maximum fee on a balance transfer of that size or less will be no more than $75. The issue of no limit balance transfer fees only effects individuals transferring more than $2500. If you fall into this category, then it is vitally important to examine the fee disclosure in the terms and conditions of your credit card application.

For example, a typical balance transfer fee disclosure will state that there is a, “3% balance transfer fee, up to $75, for every balance transferred with this offer.” A credit card that does not cap the maximum fee will simply state that there is a, “3% balance transfer fee for each transaction.”

Failing to notice this key disclosure can be costly. For example, if you make a $10,000 balance transfer with a 0% APR credit card that does not cap balance transfer fees, the cost of transferring your balance skyrockets from $75 to $300! That’s a hefty penalty for failing to read the fine print.

Fortunately, avoiding a massive balance transfer fee is simple. All you have to do is read the fine print. For additional information on balance transfer fees, visit the 0% APR balance transfers section of Smart Balance Transfers where you can compare balance transfer applications and apply online for approval. Additionally, you can cut out fees altogether by applying online for a no fee balance transfer credit card. Just remember to read the fine print before you submit your application.

As I’ve been documenting, the number of no fee balance transfer credit card offers are dwindling fast. And as of Novemeber 30th, the number of credit cards offering no fee balance transfers and a 0% APR for 1 year will now reach 0. That’s right. Zero. Zilch. None. Presently, the Citi Driver’s Edge Options card is the only credit card on the market that charges no fees and a 0% APR for 1 year on balance transfers. On November 30th, this card will no longer be available.

Once this card disappears, there will be two no fee balance transfer cards available. One, the Bank of America Platinum Plus, offers no fees and a 0% APR on purchases and balance transfers for 6 months. The other, the Citi Professional Card, offers no fees and a 0% APR on balance transfers for 9 months.

At this time last year, there were close to ten cards that offered no fee deals. Soon, I expect, there may not be any. However, paying a balance transfer fee is not the end of the world. And, with many offers, its better to pay the nominal fee and take advantage of longer 0% rates that apply to both purchases and balance transfers. However, if you want to save the 3% or $75 maximum fee and wring the most savings out of a balance transfer, get yourself the Citi Driver’s Edge Options card before it is pulled from the market.

Yesterday’s mail brought an offer for the Fidelity Investment Rewards Visa from FIA Card Services. Like many mail offers, this credit card offered a special 0% introductory APR for cash advance checks and balance transfers. The online url for the Fidelity offer was www.newcardonline.com, which is used for a number of Bank of America credit card mail offers. What separates this particular mail offer from most that offer cash advance checks is the fact that its actually a good deal. Yes, a cash advance credit card offer is actually good.

I reviewed the application at www.newcardonline.com and found that the interest rate on both cash advances and balance transfers was 0% for 1 year, and then only 14.99% thereafter. While 14.99% is not the greatest APR available, it is very low for cash advances.

There was a slight catch. If you used an ATM to make a cash advance, the cash advance rate would be 24.99%, or nearly twice that of the cash advance checks. So if you accept this offer, be sure to use the cash advance checks, and not the ATM.

As far as cash advance credit cards go, this one is pretty good. As to balance transfers, this is not the best offer in the world. In fact, it is not very good at all. As usual, I searched out the balance transfer fee information in the fine print. And what I found actually surprised me. The fine print stated, “Balance transfers are subject to transaction fees in the amount of 3% of the transaction (min $10).” What’s missing from this disclosure? The maximum fee. Or, in other words, there is no cap on the fees you can be charged for a balance transfer. (The majority of credit cards cap balance transfer fees at $75).

So how does this newcardonline.com offer differ from a standard balance transfer offer. Let’s say you’re making a $10,000 balance transfer. With a standard 0% APR balance transfer credit card, you would spend $75 on balance transfer fees. With this offer, the same balance transfer would cost $300. That’s quite a difference.

Overall, the Fidelity Investment Rewards Visa is a great deal for a 0% APR cash advance, and a bad deal for transferring large balances.