Timeline for Visa balance transfer from one loan company to another
Current License: CC BY-SA 4.0
3 events
| when toggle format | what | by | license | comment | |
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| Mar 29, 2019 at 3:50 | comment | added | TTT | @BenVoigt - agreed. 10% interest paid off on an 11 month equal payment schedule is roughly equivalent to an upfront 5% fee. | |
| Mar 29, 2019 at 3:31 | comment | added | Ben Voigt | Whether a 5% transfer fee is better than 10% APR depends on how quickly the debt is being paid down. If 12 or more months away from payoff, then the average daily balance over the next year will be over half the starting amount, and the BT fee is better. If paying on a schedule to clear the debt in less than a year (which OP doesn't seem to be doing), then the 5% fee would be worse. To be totally accurate, the 5% fee needs to be compared to the present value of a future series of interest charges. | |
| Mar 28, 2019 at 22:40 | history | answered | TTT | CC BY-SA 4.0 |