Credit Card Optimizer Calculator

The Credit Card Optimizer helps you 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.

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For more information about these financial calculators please visit: Financial Calculators from KJE Computer Solutions, Inc.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

Financial Calculators from
Dinkytown.net

Credit Card Optimizer Calculator

*indicates required.

New low interest card:

Existing credit card #1

Monthly Payment: $0.00

Existing credit card #2

Monthly Payment: $0.00

Existing credit card #3

Monthly Payment: $0.00

Existing credit card #4

Monthly Payment: $0.00

Existing credit card #5

Monthly Payment: $0.00

**FIG_GRAPHTITLE** Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Total interest savings KJE1

Definitions

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 pay off 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. The tool calculates your minimum monthly payment as 4% of your current outstanding balance or $15 whichever is more. 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.

Include a new low interest credit card

Check this box to include a new credit card in the optimization. This allows you to transfer your existing balances to a new low interest card and see the results.

New credit card limit

The total amount of credit you have for the new credit card.

New credit card rate

The annual percentage rate you will pay on the new 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 pay off this credit card may be much greater than calculated if you enter a low promotional rate that is only fixed for a short period of time.

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.