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Balance Transfer Calculator

Compare the cost of a transfer with what your current card would charge over the same period.

The amount you would move.

The rate on the card you have now.

The promotional rate. Enter 0 for 0%.

A percentage of the amount moved.

Whole months, from the offer terms.

The same amount on either card.

Estimate for education only, not a quote or an offer from any lender. Your issuer's terms and calculations determine what you actually pay. Numbers you enter stay in your browser; they are not sent to or stored by CreditPilot.

How this calculator works

It models two paths for the length of the promotional period, using the same monthly payment for each:

  • Stay: your balance keeps accruing interest at your current APR.
  • Transfer: the fee is added to your balance, which then accrues interest at the transfer APR.

Estimated savings are the interest from staying, minus the fee and the interest after transferring.

Assumptions

  • The full balance transfers on day one. Issuers can limit how much you can move.
  • You make every payment on time, with no new purchases on either card.
  • Interest is calculated monthly at one-twelfth of the APR.
  • Costs after the promotional period are not included. A remaining balance would then accrue interest at the card’s regular rate.

Worked example

Take a $6,000 balance at 24% APR, a transfer at 0% with a 3% fee, a 12-month promotion and a $250 monthly payment. The fee is $180. Staying would cost about $1,256.42 in interest over those months, so the estimated savings are $1,076.42, with $3,180 left when the promotion ends.

What to check before you transfer

  • The CFPB notes that the fee is usually a percentage or a fixed amount, whichever is more, and that being more than 60 days late can raise your rate on all balances.
  • Carrying a promotional balance can mean paying interest on new purchases. Consider using another payment method for those.
  • Approval and transfer limits are up to the issuer.

Read more on balance transfer credit cards.