Balance Transfer Calculator

A balance transfer moves debt from one credit card (or multiple cards) to a new card, typically one offering a lower or 0% introductory APR. You apply for the new card, request the transfer, and your old balance is paid off by the new issuer. You then repay the new card — ideally at a lower interest rate — saving money over time. See also our find Total Interest Paid with Debt Avalanche Calculator.

A balance transfer is generally worth it when the interest saved during the promotional period outweighs the balance transfer fee and any annual fee on the new card. This calculator shows your net savings after all fees, so you can see at a glance whether the transfer makes financial sense for your situation.

Most issuers charge a balance transfer fee of 3%–5% of the amount transferred, with some cards capping the maximum fee. For example, transferring $5,000 with a 3% fee costs $150 upfront. Some cards occasionally offer 0% transfer fees during promotional periods, so it's worth comparing offers.

Once the introductory period expires, your remaining balance is charged interest at the card's standard (regular) APR, which can be just as high as your original card. It's important to plan your monthly payments so you clear — or substantially reduce — the balance before the promo period ends.

Yes, most balance transfer cards allow you to consolidate balances from multiple cards into one, as long as the total doesn't exceed your new card's credit limit. Transferring multiple balances can simplify repayment to a single monthly payment and potentially reduce your overall interest charges.

Applying for a new credit card results in a hard inquiry, which may temporarily lower your score by a few points. However, if the transfer reduces your credit utilization ratio on your old card, it can have a positive effect over time. Avoid closing your old card immediately, as that can reduce your available credit.

Divide your total transferred balance (including the transfer fee) by the number of months in the promotional period. For example, a $5,150 balance on a 15-month 0% promo requires roughly $344/month to be fully paid off before interest kicks in. This calculator's payoff schedule shows you exactly what to pay each month.

Generally, no. Credit card issuers do not allow you to transfer a balance between two cards issued by the same bank. You typically need to transfer to a card from a different issuer. Always confirm the issuer's policy before applying.