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Our Refund calculator now uses OBBBA
(One Big Beautiful Bill Act)
Informaton Use our
refund estimator calculator to see.
Balance Transfer Credit Card Analysis
Perhaps you got an offer to consolidate your debt with a new 'balance transfer' credit card. It appears to offer a very low (perhaps 0%) initial interest rate. This
might
be a good thing. If you can really pay it off. But, if you can't, look out! It can get really, really expensive.
Total Debt to put into New Credit Card($):
Maximum Monthly Amount you could pay on this debt($):
Balance Transfer Fee (%)
(as percent of transfer amount):
"
0
0.25
0.5
0.75
1
1.25
1.5
1.75
2
2.25
2.5
2.75
3
3.25
3.5
3.75
4
4.25
4.5
4.75
5
"
Balance Transfer Fee Minimum Amount ($)
(larger of this entry and percentage will be used):
Initial Interest Rate(%):
%
Initial Interest Lasts for this many Months:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
Is initial interest listed as DEFERRED INTEREST
No
Yes
Final Interest Rate(%):
%
Minimum Payment Each Month (%)
(as percent of balance):
"
0
0.25
0.5
0.75
1
1.25
1.5
1.75
2
2.25
2.5
2.75
3
3.25
3.5
3.75
4
4.25
4.5
4.75
5
5.25
5.5
5.75
6
6.25
6.5
6.75
"
Minimum Payment Amount ($)
(Larger of this entry and percentage will be Used):
To see Calculation Results
you must have both Total Debt
and Maximum Payment Amount Filled Out.
Definitions:
Balance Transfer Credit Card: A balance transfer credit card is designed to help you pay off debt. These cards often come with a 0% introductory rate on the balances you transfer over. After the introductory period on a balance transfer credit card ends, you will then pay a higher interest rate. And many balance transfer cards are only deferring the interest during the 0% period. In this type of card, if you do not pay off the new balance in the 0% period, you will be charged retroactively to the beginning of the balance at the higher second rate!
