Balance Transfer Calculator
A balance transfer moves card debt to a new card with a low or 0% promotional rate, for a fee. The saving depends on the fee and on how much of the balance you clear before the promotion ends.
Enter your figures below. Results update as you type.
Transferring saves$1,021.04
- Transfer fee
- $180.00
- Interest after transferring
- $3.60
- Interest if you stay put
- $1,204.64
- Payment to clear it within the promotion
- $412.00
Stay on the current card vs. transfer
Current card
1 yr 7 moPaid off in
$1,204.64Interest
Balance transfer
1 yr 4 moPaid off in
$183.60Interest and fee
How the Balance Transfer calculation works
Saving = interest on the old card - interest on the new card - transfer fee
Moving $6,000 from a 24% card to a 0% card for 15 months costs a 3% fee of $180. Paying $400 a month, the debt is gone in 16 months with almost no interest, saving about $1,021. Paying $412 a month clears it inside the promotion.
Frequently asked questions
Is a balance transfer worth it?
Usually, if you can pay off most of the balance during the promotional period. The transfer fee is a fixed cost; the interest you avoid needs to exceed it.
What happens when a 0% balance transfer ends?
The card's regular APR applies to whatever balance is left. Interest is not charged retroactively on a true 0% offer, but the remaining balance starts costing the full rate.
Related calculators
Last reviewed: