How to use this calculator
- Enter the balance you want to move, your current card’s APR, and the amount you can pay each month.
- Enter the offer’s terms: the intro APR (often 0%), how many months it lasts, the transfer fee, and the APR after the intro period. All four are in the offer’s terms and conditions.
- Read the result. You’ll see whether the transfer saves money once the fee is counted, when you’d be debt-free in each case, and the monthly payment that clears the balance before the intro rate ends.
Both plans use the same monthly payment, so the comparison is fair. Nothing you enter is sent anywhere: the math runs in your browser. To plan a single card without a transfer, use the credit card payoff calculator.
How a balance transfer works
A balance transfer moves debt from one credit card to another, usually to a card with a low or 0% introductory APR. You stop paying high interest for a while, so more of each payment goes toward the balance itself.
The catch is the cost around that intro rate:
- A transfer fee, typically a percentage of the amount moved. It’s added to your new balance on day one.
- An end date. When the intro period ends, whatever is still owed starts collecting interest at the card’s regular APR.
A transfer saves money when the interest you avoid is larger than the fee, and it works best when you can clear most or all of the balance before the intro rate ends.
The formula behind the numbers
Transfer fee = Balance × Fee %
New card balance = Balance + Transfer fee
Interest this month = Balance × APR ÷ 12 (intro APR during the intro period, regular APR after)
Total cost = Transfer fee + All interest paid
The calculator runs both plans month by month with the same payment, then compares their total cost. It also finds the payment that clears the new card before the intro rate ends. At a 0% intro APR, that’s simply the new balance divided by the number of intro months, rounded up to the cent.
Worked example
These are the numbers the calculator loads with: a $6,500 balance at 22.8% APR, paid at $300 a month. The offer is 0% for 18 months with a 3% transfer fee, then 23.99%.
| Balance transfer | Keep current card | |
|---|---|---|
| Transfer fee | $195 | $0 |
| Interest | $74 | $1,955 |
| Total cost | $269 | $1,955 |
| Paid off in | 23 months (1 year 11 months) | 29 months (2 years 5 months) |
The transfer saves $1,687 and finishes six months sooner. The fee makes the new balance $6,695. After 18 payments of $300, $1,295 is still owed when the intro period ends, and that remainder is what collects the $74 of interest at 23.99%.
Raise the payment to $371.95 ($6,695 ÷ 18, rounded up) and the new card is cleared in exactly 18 months. The only cost is the $195 fee. At that same payment, keeping the current card would take 22 months and cost $1,475 in interest.
When a balance transfer isn’t worth it
The fee is paid up front, while the interest you save builds up over time. So a transfer can cost more than it saves when:
- You’d pay the debt off quickly anyway. A $2,000 balance at 22.8% paid at $600 a month costs $87 in interest. Moving it with a 5% fee costs $100.
- The intro period is short and a large balance will be left over at a high regular APR.
- The new card’s regular APR is higher than your current one and you won’t clear the balance in time.
- You keep spending on the old card. Then you’re paying down one balance while building another.
The calculator shows when a transfer costs more, so you can check before applying.
Tips before you transfer
- Read the terms for the intro period. Many offers only apply to transfers made within a set time after opening the account.
- Check the credit limit. You can usually only move up to the new card’s limit, including the fee.
- Keep paying the old card until the transfer posts. Transfers can take time to complete, and a missed payment brings late fees.
- Never miss a payment on the new card. A late payment can end the intro rate early or trigger a penalty APR.
- Avoid new purchases on the new card. They may be charged at a different rate than the transferred balance.
Frequently asked questions
Is a balance transfer worth it?
It is when the interest you avoid is more than the transfer fee. That’s usually the case for larger balances at high APRs that will take more than a few months to pay off. Enter your numbers above to see the difference in dollars.
How much should I pay each month to clear a 0% balance transfer?
Divide the new balance, including the fee, by the number of intro months. For $6,695 over 18 months that’s $371.95 a month. The calculator shows this figure for your own offer under “Beat the intro deadline”.
What happens when the 0% intro period ends?
Any balance still owed starts collecting interest at the card’s regular APR from that point on. The calculator includes this, so the total cost covers the whole payoff, not just the intro months.
Is the transfer fee included in the results?
Yes. The fee is added to the new card’s balance, as most issuers do, and it’s counted in the total cost. Some offers charge a flat minimum fee, such as $5, instead of the percentage on very small transfers.
Why might my actual numbers be slightly different?
Card issuers usually charge interest daily on your average daily balance, and billing cycles vary in length. This calculator uses APR ÷ 12 each month, which is very close but not identical. It also assumes no new purchases and on-time payments.
Is my information saved or shared?
No. The calculator runs entirely in your browser. If you use “Copy link to results”, your numbers are stored only in that link, so share it only with people you trust.
This calculator is for education and planning. It assumes fixed rates, no new purchases, and on-time payments, and it isn’t financial advice. Always read the full terms of a balance transfer offer before applying.