Transferring Credit Card Balances – Fee Calculator

Now, if you can get your credit card company to waive the transfer fee(s) associated AND they’re offering a lower interest rate, then you have it made. However, I wasn’t so lucky.

Once I calculated what my daily, monthly, and annual interest cost would be between my the current credit card with a balance to the credit card with a lower rate, I needed to figure out whether the upfront fee PLUS the accrued lower interest would be worthwhile.

So I began to look at the transfer terms – mainly the transfer fee percentage multiplied by the total transfer amount. And so explains how I came up with the form to your right.

Read my related article: How Credit Card Interest is Calculated