Balance Transfer Calculator
This balance transfer calculator shows whether moving your credit card debt to a 0% or low-rate card is actually worth it, once you subtract the transfer fee. Enter your balance, current rate, and the new card's promotional terms to see your real net savings.
The credit card balance you're considering moving to a new card.
The interest rate you're paying now.
The introductory rate on the new card — often 0%.
How many months the promotional rate lasts before reverting to the card's standard rate.
A one-time fee, usually 3-5% of the transferred balance, added to your new balance.
How much you plan to pay each month toward this balance, on either card.
Net savings after fee
$1,379
Interest saved by transferring, minus the transfer fee — positive means the transfer is worth it.
How to use this balance transfer savings calculator
- 1Balance to transfer and your current card's APR.
- 2Promotional APR and how many months it lasts — after that, the rate reverts to the new card's standard rate, modeled here as your current rate.
- 3Balance transfer fee: usually 3-5% of the transferred amount, charged upfront and added to your new balance.
- 4Monthly payment: how much you'll actually pay each month, on either card, so the comparison is apples-to-apples.
Understanding your results
Net savings after fee is the number that matters — it's the interest you'd avoid by transferring, minus the fee you pay to do it. A positive number means the transfer is worth it at your planned payment amount; a small or negative number means either the fee eats most of the benefit, or you need to pay off the balance faster than planned to make it worthwhile.
The formula
Net savings = Interest paid staying put − Interest paid after transfer − Transfer feeInterest paid staying put assumes you keep making your planned monthly payment on the current card at its current rate until the balance is cleared. Interest paid after transfer simulates the same monthly payment against the new balance (original balance plus the transfer fee), at the promotional rate for the promo period, then at the standard rate afterward if the balance isn't cleared in time.
A worked example
A $6,000 balance at 24% APR, transferred to a card with 0% for 15 months and a 3% fee ($180), paid down at $300/month: staying put would cost roughly $1,678 in interest before the balance clears. Transferring means the first 15 months are interest-free, so the balance is cleared with only about $119 of interest (paid after the promo rate reverts) — even after the $180 fee, net savings come to roughly $1,379, as long as the $300/month payment is kept up.
Notes for the UK, US and India
The biggest risk with balance transfers isn't the math — it's timing. If you don't clear the balance before the promotional period ends, the remaining amount reverts to the card's standard rate, which can be just as high as what you started with. Set your monthly payment so the balance is realistically cleared inside the promo window, not just 'as much as I can afford.'
Frequently asked questions
Is a balance transfer always worth it?+
No — if your promotional period is short relative to your balance and payment amount, you may not clear it before the rate reverts, eroding much of the benefit. Run the numbers with your realistic monthly payment, not an optimistic one.
Does the transfer fee apply to the new card's credit limit?+
The fee is added to your transferred balance, so make sure your new card's credit limit is large enough to accommodate the balance plus the fee — otherwise you may only be able to transfer part of your debt.
What happens if I don't pay off the balance during the promo period?+
The remaining balance starts accruing interest at the card's standard rate — which can be as high as, or higher than, your original card. This calculator models exactly that reversion in the 'interest paid with transfer' figure.