About the Balance Transfer Calculator
This balance transfer calculator tells you whether moving a credit card balance to a 0% (or low) intro-APR card actually saves money once the transfer fee is included. Enter the balance, your current APR, the transfer fee, the promo length and rate, the APR after the promo ends, and what you plan to pay each month.
It runs both scenarios month by month — staying put versus transferring — and reports the interest on each, the fee, your net savings, how long each takes to repay, and how much would still be owed when the promo ends. It also shows the exact monthly payment that clears the transferred balance, fee included, before the intro rate expires.
It is meant for anyone weighing a balance transfer offer. The fee is added to the new balance on day one (as most issuers do), no new purchases are assumed, and interest is charged monthly at APR ÷ 12.
With the default inputs, the net savings from transferring is $1,903.75. Change any value above to recalculate instantly.
How to use the balance transfer calculator
- 1Enter the balance you want to move and your current card’s APR.
- 2Enter the new card’s transfer fee, intro APR and intro length.
- 3Enter the APR that applies after the intro period.
- 4Enter the monthly payment you can commit to.
- 5Check the net savings and the payment needed to be clear before the intro ends.
Formula and method
The fee (balance × fee %) is added to the transferred balance on day one. The transfer scenario is then simulated month by month: the intro APR ÷ 12 applies for the promo months and the post-intro APR ÷ 12 after that, with your payment subtracted each month. The stay scenario runs the original balance at your current APR with the same payment.
Net savings are the interest avoided minus the fee. The payment to clear before the promo ends uses the amortization formula at the intro rate (which is simply balance ÷ months at 0%). Both scenarios assume no new purchases; note that late payments can cancel an intro rate on many cards.
- B
- Balance transferred
- f
- Balance transfer fee as a decimal (3% = 0.03)
- I_stay
- Total interest if you keep the balance on your current card
- I_transfer
- Total interest on the new card (intro + post-intro)
Worked examples
$8,000 to an 18-month 0% card with a 3% fee
The $240 fee makes the new balance $8,240. Paying $400 a month leaves $1,040 when the 0% period ends, which then accrues about $41 of interest before month 21. Staying at 22.99% would cost $2,185 of interest over 26 months, so the transfer saves about $1,904. Paying $457.78 a month would clear it inside the promo.
$5,000 to a 21-month 0% card with a 5% fee
A 5% fee adds $250, making $5,250 — exactly 21 payments of $250 at 0%, so no interest is paid on the new card. Staying at 24.99% would take 27 months and cost $1,535 of interest, so the transfer saves about $1,285 even with the higher fee.
Short 12-month promo on a $12,000 balance
After a $480 fee, $500 a month leaves $6,480 when the 12-month promo ends, and that balance then costs about $986 of interest at 21.99%. The transfer still saves roughly $1,984 versus staying at 19.99%, but clearing it during the promo would take $1,040 a month.
Frequently asked questions
Is a balance transfer worth it?+
Usually, if the fee is 3%–5% and your current APR is 20% or more, because the fee is far less than a year or two of interest. It is most valuable when you can repay the whole balance, fee included, before the intro rate ends.
How is a balance transfer fee calculated?+
It is a percentage of the amount transferred, typically 3% to 5%, often with a $5 or $10 minimum. The fee is added to your new card’s balance straight away, so a $8,000 transfer at 3% starts at $8,240.
What happens when the 0% period ends?+
Any remaining balance starts accruing interest at the card’s regular APR from that point. Most balance transfer offers do not charge retroactive interest, unlike deferred-interest store financing.
Does a balance transfer hurt your credit score?+
Applying causes a hard inquiry and a new account lowers your average account age, which can dip your score briefly. Over time, a lower balance and more available credit usually improve your utilization and score.
Can I transfer a balance between cards from the same bank?+
Generally no — most issuers only allow transfers from cards at other banks. Check the offer terms, as well as the deadline to complete the transfer to qualify for the intro rate.
Results are estimates for educational purposes and are not financial advice. Rates, fees and terms vary — confirm with your lender or a licensed advisor before making decisions.