- Discussion board

i am trying to figure out the best interest rate for a credit card...and i have not been able to find a credit card calculator/program that incorporates all the needed information. For exmaple... lets say i have a balance of 10,000 and the apr is 9.5 compounded monthly on an average daily balance...and i want to transfer to a card that is offering 7.9% no transaction fee (and neither card has an annual fee) but... the transferred balance will have the interest is compounded daily rather than monthly... how do i figure out what is the best card and does it make sense to transfer the balance (especially if i am making large monthly payments...rather than min. monthly payments) and at what point (in time) does is not make sense....anyway...any suggestions??... is there a real program or calculator that i could put this information into and get an answer??? non of the calculators seem to allow for compounding daily vs monthly??? any help would be appreciated... thanks

I do not believe that there are any credit cards that recognize interest on different time schedule.

The calculation method used by the majority of cards is the same - Average Daily Balance. If a card has two cycle billing you will see higher finance charges when you switch from not carrying a balance to carrying a balance, but this is the only distinction that I know of.

Could you provide the name of the 7.9% card and I will check it out? Thanks.