BALANCE TRANSFER CARD CALCULATOR AND DEBT REPAYMENT CALCULATOR
0% BALANCE TRANSFER CALCULATOR
https://www.creditcards.com/calculators/balance-transfer/
CREDITCARDS.COM BALANCE TRANSFER CALCULATOR AND CREDIT KARMA DEBT REPAYMENT CALCULATOR WILL HELP YOU MAKE A CHOICE ON WHETHER TO SWITCH TO A BALANCE TRANSFER CARD OR SIMPLY DOUBLE PAY ON YOUR
CREDIT CARDS AND LOANS.
A Balance Transfer Card allows you to transfer a balance from one credit card to a low interest card. Some Balance Transfer Cards have 0% interest for 12-18 promotional period if paid in full before the end of that period.
The purpose of a balance transfer card is to get rid of debt faster and pay less interest. If used properly it can help you get out of debt. If you dont pay off the balance on the balance transfer card you will have to pay interest 15%-24% APR.
Important:
If you make new purchases with the balance transfer card you will have to pay interest until the balance is paid in full.
Create a strategy to get rid of debt before getting a balance transfer card.
Example
Balance transfer card
Intro Apr: 0% interest for 12 months
Balance :$5,500
Monthly Payments: $472.08
After 12 months: Paid off Save $1408 Interest
That extra savings can go into your Savings Account, IRA, CD, Lawyer Fees, Health Savings Account, Child’s Tuition, or many other investments.
No Balance transfer card but still paying $472.08
Intro Apr: 20%
Balance :$5,500
Monthly Payments: $472.08
After 12 months: 14 months to pay off with $667 interest
No Balance transfer card but still paying small amount
Intro Apr: 20%
Balance :$5,500
Monthly Payments: $200
After 12 months:$1409 interest wont be paid off until 16 extra months
