Are credit card balance transfers worth it?

At some point in time, you are likely to receive an offer in the mail. Transfer an existing credit card balance to a new card and receive a promotional interest rate for a set number of months. Are these offers worth it? It depends on the promotional interest rate, the length of the promotional period, what the standard interest rate is once the promotional period expires and what the fee is to transfer your balance from one card to another. During the promotional period, you might be paying a lower rate, or 0% depending on the offer. Are the interest savings greater than the balance transfer fee? Whether they are a good deal or not also depends on how long it takes you to pay off the card balance once you move it to a new card.

Calculations provided by Fintactix.
  • Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not 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.

DuPage Credit Union credit card benefits

  • No annual fee. No matter which DuPage Credit Union credit card you use, you'll never pay an annual fee
  • Skip-a-pay. Skip a payment up to two times per calendar year.
  • No foreign transaction fee. As a benefit to our Members, we waive the fee Visa charges.
  • $0 fraud liability. With Visa's Zero Liability Policy, your liability for unauthorized transactions is $0.
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