Credit Card Balance Transfer Calculator
Calculate how much interest you will save with a Credit Card balance transfer. It is free for any webmasters to use on their own websites, simply click on the ‘Share’ tab for the code.
Visit our balance transfer guide for more information on balance transfers as well as the latest and greatest Australian balance transfer offers.
How to use the Balance Transfer Calculator
Step 1
Input your credit card balances and interest rates.
Step 2
Input the credit card you are looking to transfer to.
Step 3
Calculate your savings.
-
Featured Low Interest & Balance Transfer Credit Card*
With the St George Vertigo credit card you can benefit from a low rate on balance transfers for up to 12 months, a low interest rate to help you manage your credit card debt and a low annual fee.
- $55 annual fee
- 13.24% p.a. on purchases
- 0.99% p.a. for 12 months on balance transfers
- Cash Advance Rate of 21.49% p.a.
- 55 days interest free
- Minimum Income Requirement of $15,000 p.a.
Example of Balance Transfer Scenario
Jane has 2 credit cards. They feature:
- Card #1 – A balance of $2533 and an interest rate of 17.99% p.a.
- Card #2 – A balance of $3320 and an interest rate of 16.99% p.a.
To cut down on her interest repayments, Jane decides to carry out a balance transfer in order to repay the minimum possible. A 0% for 6 month offer isn’t long enough for her to repay the debt, so she decides to undertake a 2.9% for 12 month transfer with a 12 month balance transfer credit card.
Her input into the balance transfer calculator would look like this:
-
-
The ‘regular interest rate’ and ‘annual fee’ are of the credit card you plan to make the transfer to. After the inputs have been made and Jane presses ‘Calculate’, she gets her results:
-
The first bar is how much interest Jane would have paid by taking 12 months to pay off her 2 original balances.
The second column is how much she spent in interest on her balance transfer card, including the cost of the annual fee.
The third column is how much money she saved by carrying out the balance transfer.
-
[...] question of how much credit an individual can afford can only be answered by offering some guidelines and advice. From there, [...]
[...] balance transfer calculator figures out how much you would spend on interest at your current rate compared to what you would [...]
What can I do to get a better deal on mastercard credit card Limit $5500 with Commonwealth Bank
at present I still owe $2165.47 with a present available balance of $3303.00
I have worked out that in the last 3 Months Apr/May/Jun I have paid out, back on the credit account Over $3700
bat my available credit has only risen $1000 in the 3 month period
credit card rate is 20%
What other options are there that will give me a Lower rate and provide more credit available 5,6,7 000