Everyone gets credit card transfer offers in the mail. All of the offers claim they’ll save you money by transferring higher interest credit card balances to their credit card. But is it a good deal? Is a 1% rate with a 4% transfer fee better than a 2% rate with a 3% fee? How do you figure out if transferring your credit card balance makes sense? Enter Neato Credeeto.
Overview
Neato Credeeto is a simple yet useful tool. The average person doesn’t know how to calculate the real cost of a credit card balance transfer. Sure, there are websites that will tell you how to do it, but isn’t it better to be able to just plug in some numbers and see the real cost right on the screen?
After downloading the app just start it up and you’ll be presented with the login screen. You’ll need to register for a free login, then enter a registration number from your financial institution if you download the free version of the app, or if you’ve purchased the $1.99 version, you’re ready to login.
After logging in you’ll be presented with a simple screen that will allow you to do one of three things; Logout, (But we just started using the app, so let’s wait to do that until later), Access your “Inbox”, or you can enter your credit card balance information and calculate the “Real Feel Rate” (The actual cost for your transfer.)
If you have the info from your credit card balance transfer offers, you’re ready to go. Just enter the loan amount, the transfer fee, the days for the loan, the APR, and the start date and the end date for the loan, and press the “Real Feel Rate” button, and you’ll see the true percentage rate cost for your balance transfer.
Verdict
If you’re considering any credit card balance transfers, this tool is a must have. Sure, it’s a one-trick pony, but that one trick is a good one! It saves you money. The app is simple to use, and will quickly allow you to decide which transfer deal is best for you.
Price: FREE (Requires registration number from your financial institution) — OR — $1.99 (Requires no registration number)
Both versions are now available in the App Store. (Direct Link to the Free Version) – (Direct Link to the $1.99 Version)
Rating: 3.5/5[rating:3.5]
Pros:
- Easy to use.
- Cauld really save you some money.
- Entering the transfer offer information is straightforward.
Cons:
- I’m not really sure what the “Inbox” is for. Messages from Neato Credeeto? From your financial institution?
- The email screen won’t close after sending the email or if you cancel the email. I had to restart the app to get off of the email screen.
