Balance Transfer Calculator
See whether moving a card balance to a 0% or low-rate offer saves money after the transfer fee.
About the Balance Transfer Calculator
Enter the balance, your current APR, the transfer fee, the promotional rate and how long it lasts, and what you'll pay each month. The calculator compares staying put with transferring: interest, fees and how long each takes to clear.
Balance transfer cards charge a fee (often 3–5%) and then a low or 0% rate for a promotional period, after which the normal rate applies to what's left. They save the most if you clear the balance within the promotion.
The formula
Saving = interest if you stay − (fee + interest after transfer)
Worked example
6,000 at 24.99%, paying 300 a month; offer: 3% fee, 0% for 18 months
- Staying: 1,841 of interest over 27 months
- Transferring: 180 fee, then 18 interest-free months; 780 is left when the offer ends, cleared 3 months later with 31 of interest
- Saving: about 1,631
Things to keep in mind
- Assumes the after-promotion rate on the new card equals your current APR; check the offer's actual rate.
- Assumes no new spending on either card.
Questions people ask
Do new purchases get 0%?
Usually not; avoid spending on the transfer card.
How much should I pay each month?
Balance plus fee ÷ promotional months clears it in time: 6,180 ÷ 18 = 344 a month here.