A financial tool designed to compute the cost associated with moving debt from one credit account to another. This calculation often involves a percentage of the transferred amount, and the tool accurately displays this charge. For example, transferring $5,000 with a 3% fee results in a $150 charge, which the instrument clearly shows.
The utility of such a resource lies in its ability to help consumers make informed decisions about debt consolidation. Understanding the financial implications of transferring balances allows for a more strategic approach to debt management. Historically, these calculations were performed manually, increasing the potential for error and hindering quick comparisons. The availability of automated calculation methods provides efficiency and accuracy in evaluating transfer options.