Compare Promotional Rate Credit Card Offers

Balance transfer fees are now a bigger part of the cost of promotional rate credit cards offers. This video shows how to convert the balance transfer fee to an an annual percentage rate and add it to the APR of the offer to arrive at an interest rate that you can compare with the interest rates of other loans.

The following spreadsheet compares two promotional rate credit card offers. One has a 0% APR for 10 months with a balance transfer fee of 4%; the other has a 1.99% APR for 13 months with a balance transfer fee of 4%. Which has the lower interest rate? Click on the spreadsheet below to find out.

https://spreadsheets.google.com/pub?key=0AlXfiQ_py3lAdGkwTFFobFpsOUttaS16UUw0...

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Howto & Style

Tags:

• balance transfer offers
• credit cards
• loan comparison
• annual percentage rate
• APR
• balance transfer fees
• transactions fees
• compare interest rates
• teaser rates