The whirlwind of gift-giving at the end of the year has a funny way of throwing your credit card balance out of whack. If the holiday season left you and your finances a bit off-balance, never fear! Trademark is here with our Balance Transfer to get you back on track.
We know that while your credit card balance itself can appear manageable, the interest on that balance can take on a life of its own. The average interest on a Big Bank credit card is 18%! Currently, Trademark is offering a rate of 3.99% APR* for 12 months**, on our VISA Balance Transfers.
What does that look like in practice? Imagine you have a balance of $12,000 on your Big Bank credit card, with an interest rate of 18%. If you paid the minimum balance each month, for 1 year, you will have paid up to $2,100.82 in interest! Let’s break it down for you:
- You have a balance of $12,000
- You pay the minimum monthly payments for a year, which totals $2,801.36
- Of that $2,801.36, $2,100.82 of interest is going to the Big Bank and only $700.53 is going toward your balance
At that rate, you will have paid off your balance in roughly 23 years!
With Trademark’s VISA Balance Transfer offer, you can transfer your balance over to our card and for 12 months, you can get a rate of 3.99% APR. Take a look at the difference in numbers below:
- You have transferred your balance of $12,000
- You pay the minimum monthly payments for a year, which totals $2,629.86
- Of that $2,629.86, $437.08 of interest is going to Trademark and $2,192.77 is going toward your balance
That’s a big difference!
The numbers speak for themselves. On average, transferring your current credit card balance to a Trademark Visa card could slash your monthly interest payment by almost 80% – which in turn allows you to put more money toward your card balance every month!
Don’t have a Trademark Visa card yet? Apply here and take charge of your credit card debt.
Already have a card with Trademark? Contact us and bring your other card balances here!
*APR = Annual Percentage Rate
**Eligibility requirements apply. Subject to lending guidelines.