💳 Balance Transfer: Calculator

Estimate how much you could save by transferring a credit card balance to a lower-rate card.

$
%
%
months
%
ESTIMATED NET SAVINGS
$0
over the promotional period
Interest If You Stayed Put
$0
Transfer Fee
$0
New Card Interest
$0
Worth Transferring?
—
Simple-interest approximation, ignoring monthly balance paydown.

How the Balance Transfer Calculator Works

A balance transfer moves debt from a high-interest credit card to a new card, usually one offering a 0% or low promotional APR for a limited time. This calculator estimates how much interest you'd avoid by transferring, compares that against the one-time transfer fee most issuers charge, and nets out any interest still owed on the new card during the promo period.

Interest on Current Card = Balance × (Current APR ÷ 12) × Promo Months
Transfer Fee = Balance × Transfer Fee %
Interest on New Card = Balance × (New Card Promo APR ÷ 12) × Promo Months
Net Savings = Interest on Current Card − Transfer Fee − Interest on New Card

An Important Simplifying Assumption

This calculator uses a simple-interest approximation that assumes your balance stays constant throughout the promo period — it does not account for you making monthly payments that would gradually shrink the balance (and therefore the interest) on either card. In practice, if you pay down some of the balance during the promo window, your real-world interest costs on both cards will be lower than this estimate, but the relative comparison between staying put and transferring remains directionally useful.

What to Watch Out For With Balance Transfers

Always check the card's terms for what happens after the promo period ends — any remaining balance typically reverts to a much higher standard APR. Also confirm whether the transfer fee is a flat percentage (commonly 3-5%) or has a minimum dollar amount, and whether new purchases on the card qualify for the same promotional rate or accrue interest immediately.

📎 Related Tools: Credit Card Payoff Calculator Debt Payoff Calculator Loan Calculator Savings Calculator

❓ Frequently Asked Questions

Is a balance transfer always worth it?
Not always. It's generally worth it when the interest you'd avoid on your current card exceeds the transfer fee plus any interest owed on the new card during the promo period — which is exactly what this calculator's net savings figure shows.
What's a typical balance transfer fee?
Most cards charge 3% to 5% of the transferred balance, often with a minimum flat fee (like $5 or $10). Some promotional offers waive the fee entirely for a limited time, so it's worth comparing several cards.
What happens if I don't pay off the balance before the promo period ends?
Any remaining balance typically starts accruing interest at the card's standard (often much higher) ongoing APR, which can quickly erase your savings. It's important to have a plan to pay off the transferred amount before the promo period expires.
Does transferring a balance hurt my credit score?
Opening a new credit account can cause a small, temporary dip due to the hard inquiry and reduced average account age, but consistently paying down debt and lowering your credit utilization ratio often helps your score over time.
Can I transfer a balance between cards from the same bank?
Usually not — most issuers don't allow balance transfers between two cards you hold with them. The new card must typically be from a different bank or issuer than your existing balance.

🏆 About This Tool — Accuracy & Trust

🔒 Data Privacy: All calculations run entirely within your browser using JavaScript. Nothing you enter here is ever transmitted to our servers, stored, sold, or shared.

📐 Accuracy Note: This tool uses standard, widely published formulas and guidelines. Results are estimates for informational purposes; for financial, medical, or engineering decisions, consult a licensed professional.

📅 Last Updated: September 2026.