Balance transfer cards often offer 0% for 12–21 months with a 3–5% fee. You only win if you pay most of the balance before the promo ends and don’t add new purchases.
How to use the Balance Transfer Calculator
- Current balance
- Current card APR
- Monthly payment
- Balance transfer fee
- Promotional APR
- Promotional period
- APR after the promo
Results update as you type, and every field accepts the units shown in its menu.
How it works
Enter your balance, current APR, monthly payment, the transfer fee, promo APR and length, and the APR after the promo.
Tips
- Compare loans by APR and total cost, not just the monthly payment.
- Extra payments go straight to principal and can save a lot of interest.
- Pay off the highest-rate debt first if you want to save the most money.
- Check for prepayment penalties before paying a loan off early.
Common mistakes to avoid
- Stretching a loan term to lower the payment without seeing the extra interest.
- Paying only the minimum on credit cards.
- Forgetting fees that are rolled into the loan.
Inputs explained
| Field | What to enter |
|---|---|
| Current balance | Amount in your currency |
| Current card APR | In % |
| Monthly payment | Amount in your currency |
| Balance transfer fee | In % |
| Promotional APR | In % |
| Promotional period | In months |
| APR after the promo | In % |
What each result means
- Months to pay off – current card = nper([Current card APR]÷1200, [Monthly payment], [Current balance])
- Interest – current card = [Monthly payment]×[Months to pay off – current card] – [Current balance]
- Balance after transfer = [Current balance]×(1 + [Balance transfer fee]÷100)
- Interest and fee – new card = [Monthly payment]×[Months to pay off – new card] – [Current balance]
- Savings = [Interest – current card] – [Interest and fee – new card]
Example values
How the main result changes when Current balance changes and everything else stays at the example values above:
| Current balance | Savings |
|---|---|
| 3,000 | 290.51 |
| 4,500 | 768.45 |
| 6,000 | 1,532.25 |
| 7,500 | 2,570.22 |
| 9,000 | 4,025.4 |
| 12,000 | 9,834.46 |
Formula
New balance = balance × (1 + transfer fee)During the promo: balance falls by your payment each month at the promo rateAfter the promo: remaining balance accrues the regular APR until paidSavings = cost on the old card − cost on the new cardWorked example
Inputs — Current balance: $6,000; Current card APR: 24 %; Monthly payment: $300; Balance transfer fee: 3 %; Promotional APR: 0 %; Promotional period: 18 months; APR after the promo: 22 %.
Results — Months to pay off – current card = 26; Interest – current card = $1,738.76; Balance after transfer = $6,180.00; Balance left when the promo ends = $780.00; Months to pay off – new card = 21; Interest and fee – new card = $206.51; Savings = $1,532.25; Monthly payment to clear it within the promo = $343.33.
Frequently asked questions
Is a balance transfer worth it?
Usually, if the fee is lower than the interest you'd pay and you can pay off most of it in the promo period.
What is a typical balance transfer fee?
3–5% of the amount transferred.
Do new purchases get 0% too?
Not always – and payments may go to the 0% balance first.
What formula does the Balance Transfer Calculator use?
New balance = balance × (1 + transfer fee).