Calcvera

Balance Transfer Calculator

Find out whether moving a credit card balance to a 0% intro APR card actually saves money after the transfer fee. Compare your total interest both ways, see the payment needed to clear the balance before the promotion ends, and what happens if you don’t.

Updated By the Calcvera editorial team How we build & check our calculators

Your balance & offer

Usually 3%–5%.

Used for both scenarios so the comparison is fair.

Your results

Estimated savings

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Transfer fee

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Payment to clear before the promo ends

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Balance left when promo ends

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Total cost of the debt

How to use this calculator

  1. Enter your current balance and APR from your latest card statement.
  2. Enter the offer’s terms: the balance transfer fee (a percentage of the amount moved), the intro APR (often 0%), how many months it lasts, and the regular APR that applies afterwards.
  3. Enter the monthly payment you can afford. We use the same payment in both scenarios so you’re comparing like with like.
  4. Check the verdict. The results show total interest and fees each way, your payoff time, and the payment needed to be debt-free before the promotion expires.

How a balance transfer works

With a balance transfer, a new card issuer pays off your existing card and moves the debt onto the new card, usually at a promotional APR of 0% for 12 to 21 months. In exchange, you pay a one-time transfer fee — typically 3% to 5% of the amount moved — which is added to your new balance.

During the promotional period, every dollar you pay reduces the principal instead of covering interest. That’s why a transfer can dramatically shorten payoff time: at 24% APR, a $350 payment on an $8,000 balance loses about $160 — nearly half — to interest in the first month; at 0%, none of it does.

Worked example

Chris owes $8,000 at 23.99% APR and can pay $350 a month. A new card offers 0% for 18 months with a 4% fee, then 24.24%.

Keep current cardTransfer
Fee$0$320
Interest paid$2,796$150
Time to pay off2 years 7 months2 years 1 month
Total cost of borrowing$2,796$470

The transfer saves Chris about $2,326, even though $2,020 is still owed when the promotion ends. Raising the payment to $462.22 would clear the full $8,320 (balance plus fee) within the 18 months and avoid interest entirely.

When a balance transfer is (and isn’t) worth it

It usually makes sense when:

  • Your current APR is high (18%+) and the balance is large enough that interest outweighs a 3%–5% fee.
  • You can pay off most or all of the balance before the promotion ends.
  • Your credit is good enough to be approved for a limit that covers the balance plus the fee.
  • You’ve stopped adding new charges to the old card.

It may not be worth it when:

  • You could pay the balance off in a few months anyway — the fee may exceed the interest you’d save.
  • The promotional period is short (6–9 months) relative to your payoff time.
  • You tend to run balances back up on the old card once it’s cleared.
  • You need a longer, fixed schedule — a consolidation loan gives you a guaranteed payoff date at a fixed rate.

Rules and fine print to know

  • Transfer deadline: many offers apply only to balances transferred within the first 60–120 days.
  • Late payments: under the Credit CARD Act, an issuer can generally apply a penalty rate to an existing balance only after a payment is 60 days late — but some offers end the promotional rate after any late payment. Set up autopay for at least the minimum.
  • Payment allocation: amounts you pay above the minimum must go to the balance with the highest APR first.
  • Same issuer: you usually can’t move debt between two cards from the same bank.
  • Credit limit: the amount you can transfer — including the fee — is capped by the new card’s limit, which you learn only after approval.

How we calculate savings

Both scenarios use your monthly payment and apply interest monthly at APR ÷ 12. In the transfer scenario, the fee is added to the starting balance, the intro APR applies for the promotional months, and the regular APR applies afterward.

Savings = interest if you keep the card − (interest after transferring + transfer fee) Payment to clear during promo = (balance + fee) ÷ intro months (at a 0% intro APR)

Results are estimates. Real interest is charged daily, fees may have a minimum dollar amount, and the regular APR on most cards is variable.

Frequently asked questions

Is a balance transfer worth the 3%–5% fee?
Usually yes, if you’re paying a typical credit card APR and can pay off most of the balance during the 0% period. A 4% fee on $8,000 is $320, while a year and a half of interest at 24% on the same balance would be well over $1,500. The fee only wins if you’d pay the debt off very quickly anyway, or if the promotional period is short.
What happens if I don’t pay off the balance before the intro APR ends?
The remaining balance starts accruing interest at the card’s regular (“go-to”) APR from that point forward. Standard 0% balance-transfer offers are not “deferred interest”, so you are not charged interest retroactively. Some store cards do use deferred interest — read your terms.
How much do I need to pay each month to clear it during the promotion?
Divide the transferred balance plus the fee by the number of promotional months. The calculator shows this figure as “Payment to clear before the promo ends”.
Will a balance transfer hurt my credit score?
Applying for a new card causes a hard inquiry and a new account, which may dip your score slightly for a few months. Over time, a lower total balance and a higher combined credit limit usually improve your credit utilization, which can raise your score. Check with our credit utilization calculator.
Can I transfer a balance between two cards from the same bank?
Generally no — issuers don’t allow transfers between their own cards. You’ll need a card from a different issuer.
Should I use the new card for purchases?
It’s best not to. New purchases may be charged the regular APR, and while payments above the minimum must go to the highest-rate balance first under the Credit CARD Act, mixing purchases with a promotional balance makes the payoff harder to track.

Sources

Key terms

About this calculator. Written and maintained by the Calcvera editorial team and last reviewed on September 25, 2026. Rules and figures are checked against the official sources listed above. Results are estimates for education — not financial, tax or legal advice. Found an error? Tell us and we'll fix it. Read our editorial policy.