Balance Transfer Calculator

How does a balance transfer work? This Balance Transfer calculator helps you to calculate the cost  benefits for a balance transfer.

 

 

Balance Transfer Calculator Tips

  • The balance transfer needs to be a credit card from a different bank than the one with existing credit card debt.
  • You can transfer debt from up to 3 different credit cards into a single balance transfer.
  • Don’t make new purchases on your credit card after the balance transfer. The lower interest rates only apply on the balance transferred and not on new debt.
  • Credit cards have a tiered interest rate on your outstanding balance on daily compounding. Tiered interest rates:-
    • Paid on time for 12 consecutive months: 15%
    • Paid on time 10 out of 12 months: 17%
    • Not paid on time less than 10 times out of 12 months: 18%

 

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