Balance Transfer Fee Calculator
Calculate the fees and savings for credit card balance transfers. Understand how transfer fees, promotional periods, and interest rates affect your debt repayment strategy.
Step 1: Transfer Details
Understanding Balance Transfer Fees
Most credit cards charge a fee (typically 3-5%) when you transfer a balance. This fee is added to your transferred balance. Some cards offer 0% fee promotions for a limited time.
Step 2: Comparison Details
About Promotional Periods
Many balance transfer cards offer 0% or low APR for a promotional period (typically 12-24 months). After this period, the standard APR applies to any remaining balance.
Balance Transfer Results
Estimated Total Savings
Credit Card Comparison
| Card Type | Transfer Fee | Promo APR | Promo Period | Total Cost |
|---|
Balance Transfer Cost Analysis
Balance Transfer Formula
Total Savings = (Current Card Interest) – (Transfer Fee + Promo Card Interest)
The balance transfer savings is calculated by comparing the interest you’d pay on your current card versus the transfer fee plus any interest during and after the promotional period on the new card.
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