Bankrate has created a new balance transfer calculator to help you decide if this is the best move for you. Try it now.

Credit Cards

Credit card balance transfer calculator

Calculate how much interest you can save

The "Credit card balance transfer calculator" helps determine how much interest you can save by transferring a balance to a lower interest rate card. This is called "optimizing" your debt. By entering credit card balances, rates and credit limits, this credit card balance transfer calculator determines which balance transfers will produce the greatest savings.

This calculator requires a Java-enabled browser. To download the plugin, click here.

Credit Cards

This Financial Calculator requires SUN's Java� Plug-in. If you see this message you will need to download SUN's Java� Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing �Install ActiveX Control�.

Get the Java� Plug-in!

For more information about this Plug-in please visit: SUN's Java� Plug-in
For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC

Definitions

Credit cards: Enter up to 5 credit card accounts, one on each line.
Balance: Your current balance on your credit card.
Interest rate: The annual percentage rate you pay on this credit card. The rate you enter is used to calculate the interest on all future payments for the credit card. The length of time to payoff this credit card may be much greater than calculated if you enter a low promotional interest rate that is only fixed for short period of time.
Payment: This is your initial minimum monthly payment. We calculate your minimum monthly as 4% of your current outstanding balance or $15 which ever is more. While your actual minimum monthly payment may be slightly different, this is one of the most common methods used by credit card companies to calculate minimum payments.
Credit limit: This is the total amount of credit you have on this credit card. The optimizer will not allow you to have credit card balances that are over your credit limit.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Compare Credit Card Rates

All Variable average
15.24%

About our rates

About this index

Credit Card Averages

Product	Rate
Balance Transfer Cards	15.92%
Cash Back Cards	16.34%
Low Interest Cards	11.01%
Rewards Cards	15.80%

Compare rates:

Partner Center

Place this widget on your Web site!

Choose from many types:


	Bankrate is now on Facebook^® Get alerted when rates change Subscribe: RSS Feeds Daily newsletters full of $$ tips

Advertising Disclosure: Bankrate.com is an independent, advertising-supported comparison service. Bankrate may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.