Finance Calc App

US Balance transfer calculator

See whether moving a credit-card balance to a 0% intro-rate card is worth it. Weigh the upfront transfer fee against the interest you'd save, and check whether you can clear the balance before the promotional rate ends.

By Mitch Duncan Last reviewed Methodology

Your card & the offer

The balance-transfer offer

You'd save by transferring
$1,335.78
Transfer fee (upfront)
$180.00
Side-by-side
Stay put
Transfer
Interest paid
$1,542.87
$27.09
Transfer fee
$0.00
$180.00
Total cost of debt
$7,542.87
$6,207.09
Time to clear
2 yr 2 mo
1 yr 9 mo
At $300.00/month the balance isn't cleared within the 18-month intro window, so the remainder reverts to 22% APR. To clear it interest-free, you'd need to raise your monthly payment.

Assumes a fixed monthly payment and no new spending on either card. New purchases often don't get the intro rate and can complicate how payments are allocated. Always check whether the saved interest beats the transfer fee before switching. This is an estimate, not financial advice.

Want the full picture? Are Balance Transfers Worth It? →

How a balance transfer works

A balance transfer moves debt from a high-interest credit card to a new card offering a 0% (or low) introductory rate for a set number of months. While the intro rate lasts, every payment attacks the principal instead of being eaten by interest — which can clear a balance years faster. The catch is an upfront transfer fee, usually 1–4% of the balance, and a higher "revert" rate once the promo ends.

Worth it when: interest saved during the intro period > transfer fee

Worked example

A 6,000 balance at 22% APR, paying 300/month, costs a lot in interest and drags on for years. Move it to a 0% card for 18 months with a 3% fee (180): if you keep paying 300/month you clear it inside the promo for essentially just the 180 fee — saving well over a thousand in interest. The calculator above runs both paths month by month so you can see the exact gap.

The fee-versus-saving trade-off

The transfer fee is the price of the 0% window. It's worth paying only if the interest you'd otherwise rack up is larger. A 3% fee on a balance you'd clear in a few months at a modest rate may not pay off; on a large balance at 20%+ APR it almost always does. Always compare the fee against the interest saved — not just the headline 0%.

Clear it before the rate reverts

The danger is reaching the end of the intro period with a balance still owing — it then jumps to the revert APR, often as high as the card you left. To get the full benefit, divide the balance (plus fee) by the number of intro months and aim to pay at least that much each month. The calculator flags whether your payment clears the balance in time.

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Frequently asked questions

Is a balance transfer worth the fee?
It's worth it when the interest you'd save during the 0% intro period is larger than the upfront transfer fee. On a large balance at a high APR, a 1–4% fee is usually dwarfed by the interest you avoid. On a small balance you'd clear quickly anyway, the fee may not pay off. The calculator above compares the fee against the interest saved for your own numbers.
How is the balance transfer fee calculated?
It's a percentage of the amount you transfer — commonly 1% to 4% — charged once, upfront, and added to your new balance. Transferring 6,000 with a 3% fee adds 180. Some cards cap the fee or run fee-free promotions, so always check the specific offer.
What happens when the 0% intro period ends?
Any balance still owing reverts to the card's standard APR, which is often as high as the card you left. The goal is to clear the balance before that happens — divide the balance plus fee by the number of intro months to find the monthly payment you need. The calculator flags whether your payment clears it in time.
Can I keep spending on a balance transfer card?
It's best not to. New purchases usually don't qualify for the 0% rate and can start accruing interest immediately, and the way payments are allocated between balances can leave the expensive portion lingering. Treat a balance transfer card as transfer-only and put everyday spending elsewhere.
Does a balance transfer hurt my credit score?
There can be a small, temporary dip from the new-account application (a hard search), but a transfer can also help over time by lowering your credit utilisation as you pay the balance down. Missing a payment or repeatedly opening cards to roll debt around does more damage than the transfer itself.
Should I close my old card after transferring?
Not necessarily. Keeping the old card open (with a zero balance) preserves your available credit and the length of your credit history, both of which can help your score. The key discipline is not running the old card back up — the point of the transfer is to clear the debt, not to free up room for more.

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