Balance Transfer Savings Calculator
Compare a credit card balance transfer with keeping your current card. Include transfer fees, introductory APR, the later APR and your fixed monthly payment.
Enter your details and select Calculate, or load the worked example to see a complete result.
Add the larger of the percentage fee or minimum fee to the transferred balance. Apply promotional interest through the entered number of months, then switch to the later APR.
Charge monthly interest using APR ÷ 12, then subtract the same fixed payment from each scenario. The last payment is capped at the remaining balance plus interest. A payment that does not cover later interest is flagged instead of showing a false payoff date.
Savings are current-card interest minus transfer-card interest and the fee. The promotional payoff target is the monthly payment needed to clear the transferred balance and fee before the introduction ends.
A $5,000 balance with a 3% fee becomes $5,150. At 0% for 18 months, paying at least $286.12 per month clears it before the promotion ends. With $300 monthly payments, the transfer repays in 18 months with $150 in transfer fees and no interest.
No new purchases, missed-payment penalties, deferred interest, annual card fees or other balances. The transfer fee is financed and uses the same rates as the transferred balance. Monthly interest is an estimate; actual card issuers commonly use daily balances. Payoff simulations stop after 600 months.
Frequently Asked Questions
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