We investigate the Ar(+)-Fe asymmetric charge transfer (ACT) reaction using a combination of plasma diagnostics methods and a kinetic model of the afterglow plasma, which allow monitoring of the temporal evolution of the densities of different species. The iron vapor is created inside a discharge cell by cathode sputtering; its density is measured by atomic absorption spectroscopy. The rate coefficient of the reaction is evaluated from the emission intensity decay of Fe(+)∗ lines pumped by the ACT process in the He-Ar-Fe and Ar-Fe afterglow plasmas. The measurements yield a rate coefficient k = 7.6( ± 3.0) × 10(-9) cm(3) s(-1) at T = 300 K.