How Much Will You Save With a Balance Transfer?

If you want to pay off your credit card balance at a lower interest rate and your card issuer won't give you one, a balance transfer might be a good option. But, just because the interest rate on the new card is lower doesn't mean you'll actually save money with the balance transfer.

When you're calculating the savings of a balance transfer, you have to also think about the balance transfer fee and any difference in annual fees with the two credit cards. What's the Cost of a Balance Transfer? will help you figure out whether it's better to leave your balance where it is or move it to a new credit card.

More Reading:

• Balance Transfer Basics
• How to Choose a Balance Transfer Credit Card
• A Balance Transfer Could Hurt Your Credit Score