Balance Transfer Calculator
Enter your balance, current APR and monthly payment, then the offer's transfer fee, promo APR, promo months and the APR after the promo. You'll see which costs less.
Debt-free in 2 years, 2 months with the transfer · $343.34 a month clears it in the promo See results
The same payment is used for both paths.
Added to the balance you move.
The transfer saves $1,688.14, fee included and finishes 6 months sooner.
Payment to clear it in the promo
$343.34
clears $6,180.00 in 18 months
Balance left when the promo ends
$1,680.00
at $250.00 a month, then charged the after-promo APR
Transfer fee
$180.00
added to the $6,000.00 you move
Stay or transfer
| Figure | Stay on current card | Transfer |
|---|---|---|
| Balance to pay | $6,000.00 | $6,180.00 |
| Time to pay off | 2 years, 8 months | 2 years, 2 months |
| Total interest | $1,998.77 | $130.63 |
| Transfer fee | $0.00 | $180.00 |
| Total cost | $1,998.77 | $310.63 |
Total cost is interest plus the fee. It assumes no new purchases on either card.
- Transfer
- Stay on current card
More than one debt? Plan all your debts together in the debt payoff planner, with this transferred balance and its promo rate already filled in.
How we calculate thisYour numbers never leave your device.
This balance transfer calculator compares keeping your balance where it is with moving it to a card that has a low promo rate. It adds the transfer fee, applies the promo APR for the promo months and the regular APR after, and shows the time, interest and total cost of each path at the same monthly payment.
How to use this calculator
- Enter your balance, current APR and monthly payment. These describe staying put.
- Enter the transfer fee as a percent. The offer’s terms state it. The calculator adds it to the transferred balance on day one.
- Enter the promo APR and promo months. The promo APR starts at 0%; change it if the offer is a low rate instead.
- Enter the APR after the promo. This is the rate on whatever is left when the promo ends.
What the results mean
- Stay vs transfer
- Time to pay off, total interest, the fee, and total cost for each option. Total cost is interest plus the fee, so the two paths compare fairly.
- Payment to clear it inside the promo
- The monthly payment that pays off the transferred balance, fee included, before the promo rate ends.
- Balance left when the promo ends
- What remains at your current payment when the regular APR kicks in. If this is above zero, the post-promo APR matters as much as the promo rate.
Worked example
Say you owe $6,000 at 24.99% APR and pay $250 a month. Staying put, you are done in 2 years, 10 months and pay $2,403.22 in interest.
Now enter an offer: a 3% fee, 0% for 18 months, then 24.99%. The fee goes onto the new balance right away. At 0%, every dollar of your $250 goes to principal during the promo, so the balance falls fast. Whatever is left in month 19 starts charging 24.99%. The calculator shows the total cost of that path next to the stay path, the payment that would clear the whole balance by month 18, and what is left if you keep paying $250.
Things the calculator can’t see
Your approval and credit limit. A transfer only works if the new card’s limit covers the balance and the fee.
New purchases on the new card. According to the CFPB, on most cards, if you carry a balance, including a transferred one, new purchases start charging interest from the day you make them. Keep the transfer card for the transfer.
Late payments. The CFPB says an intro rate must last at least six months, but that protection falls away if you are more than 60 days late.
Mixed balances. According to the CFPB, when you pay more than the minimum, issuers must generally apply the extra to the highest-rate balance first. If you add purchases at a higher rate, your extra goes there before the transferred balance.
How we calculate this
Both paths run month by month at the same payment. Interest is the APR divided by 12, rounded to the cent. On the transfer path, the fee is added to the balance at the start, the promo APR applies for the promo months, then the post-promo APR applies. The final payment is exactly what’s left. See the methodology page.
Related
- Credit card payoff calculator: one card at one rate.
- How to pay off credit card debt: where a transfer fits among other options.
- Debt payoff calculator: plan a transfer card alongside your other debts with a promo rate per debt.
FAQ
Is a balance transfer worth it?
It is worth it when the interest you save during the promo is larger than the fee. The more of the balance you clear before the promo ends, the more a transfer saves. Enter your offer above. If the transfer path’s total cost is lower than staying put, the numbers favor the transfer.
Can I be charged a fee on a 0% balance transfer?
Yes. The CFPB says a card company is permitted to charge a balance transfer fee on a zero percent offer. The fee is added to your balance, so a 0% promo is not free. The calculator includes the fee in the transfer path’s total cost so you can compare the two paths fairly.
What happens when the promo rate ends?
Any balance still on the card starts charging the regular APR from the offer’s terms. The calculator shows how much is left at that point and the payment you would need to reach zero before it happens. If you can’t clear it in time, compare the post-promo APR with your current rate.
How long does a promo rate have to last?
The CFPB says an introductory rate on a balance transfer or new card must stay in effect for at least six months, unless you are more than 60 days late on a payment. The issuer has to disclose how long the promo lasts and what rate applies after it ends.
How much do I need to pay to clear the balance before the promo ends?
Enter the promo months and fee above, and the calculator gives the monthly payment that pays off the transferred balance, fee included, inside the promo window. At 0%, that is the new balance divided by the number of promo months. Paying that amount each month means the post-promo APR never applies.