Balance Transfer Calculator - Credit Card Optimizer

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Should you transfer an existing balance from one card to another? Use this calculator to help determine the best distribution of your credit card debt. By entering your credit card balances, rates and credit limits this calculator determines which balance transfers will produce the greatest savings.

Enter your current credit card balances by clicking the "Details" button up top.
Enter a potential new credit card rate and credit limit below (estimates OK).
Check the "Click here to include a new low interest card" box.
Click the "View Report" button for a detailed look at the results.

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

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. You minimum monthly payment is calculated as 2% of your current outstanding balance. 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.

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Note: This information is for general use only. Use this information as part of a full research process. General financial advice does not always apply directly to individual financial matters. Please consult a financial expert with specific and complex questions about your individual situation.

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