Balance Transfer Calculator
See if transferring your credit card balance to a 0% APR card will save you money after accounting for transfer fees.
Your Current Card
Balance Transfer Card Offer
Typically 3-5% of transferred amount
Common periods: 12, 15, 18, 21 months
Rate that kicks in after promo ends
Enter your details and click Calculate
to see if a balance transfer makes sense
Keep Current Card
Stay at --% APR
Payoff Time
--
Total Interest
$--
Total Paid
$--
Balance Transfer
Saves Money0% for -- months
Payoff Time
--
Total Interest + Fee
$--
Total Paid
$--
Cost Breakdown
Balance Transfer Fee
3% of $8,000
$--
Interest During 0% Period
Charged at 0% APR
$0
Interest After Promo Ends
On remaining balance at 24.99% APR
$--
Interest You'd Pay on Current Card
At 22.99% APR until payoff
$--
Net Savings
Interest avoided minus fee and post-promo interest
$--
Payment to Pay Off During Promo
Balance + Fee
$--
Promo Period
-- months
Required Payment
$--/mo
Your Payment
$--/mo
Balance Transfers
A balance transfer moves debt from one credit card to another, typically to take advantage of a 0% introductory APR. This can save significant interest if you pay off the balance before the promotional period ends.
How to Use
- 1 Enter your current card balance and APR.
- 2 Enter the balance transfer offer details (fee, promo period, post-promo APR).
- 3 Enter the monthly payment you plan to make.
- 4 See if the transfer saves you money after accounting for fees.
FAQ
Is the transfer fee worth it?
A 3% fee on $10,000 is $300—but if you'd pay $1,500 in interest keeping the balance on a 20% APR card, you save $1,200. The key is paying off the balance before the promo ends. If you can't, the math changes significantly.
What happens after the promo ends?
Any remaining balance starts accruing interest at the regular APR (often 20-25%). Some cards also apply "deferred interest"—charging interest retroactively on the original balance if not paid in full. Check your terms carefully.
Can I use the card for purchases?
Most balance transfer cards charge regular APR on new purchases immediately. Payments often apply to the lowest-rate balance first (the transfer), meaning new purchases accrue interest while your transfer sits at 0%. Avoid using the card for anything else.
Will this hurt my credit score?
Opening a new card causes a small, temporary dip from the hard inquiry. However, the new credit limit lowers your overall utilization ratio, which can help your score. Closing old cards can hurt your score more than opening new ones.
Can I transfer between same-bank cards?
Usually no. Most banks don't allow balance transfers between their own cards. You'll need to transfer to a card from a different issuer. Check the terms of any offer before applying.
What credit score do I need?
The best 0% APR offers typically require good to excellent credit (700+). Some cards accept scores in the mid-600s but may offer shorter promo periods or higher fees. Pre-qualification tools can show likely approval without a hard inquiry.
Calculator Limitations
This calculator assumes standard interest calculation (not deferred interest), no additional purchases on the new card, and consistent monthly payments. Always read the full terms of any balance transfer offer.
