Balance Transfer Calculator

About this calculator

A balance transfer moves debt from a high-interest credit card to a card offering a lower promotional APR (often 0% for an introductory period), with the tradeoff that the issuer usually charges a one-time balance transfer fee, typically 3 to 5 percent of the amount moved, added to the new balance at the time of transfer.

Whether the move actually saves money depends on whether the interest avoided on the old card over the payoff period is larger than that upfront fee. This calculator compares interest accrued at the current APR against interest at the new APR plus the transfer fee, over the number of months you plan to take to pay it off, to show the net savings.