Balance Transfer Calculator
See how much you could save by moving your credit card balance to a card with a lower APR. This calculator factors in transfer fees and shows your payoff timeline.
Usually 0% for intro period
At your current balance of $5,000, you could save $1,280 by transferring to a 0% intro APR card, even after the $150 transfer fee.
How Balance Transfers Work
A balance transfer lets you move existing credit card debt to a new card — typically one offering a 0% introductory APR. This can save you hundreds or thousands in interest, helping you pay down debt faster. Most cards charge a one-time transfer fee of 3–5%.
When a Balance Transfer Makes Sense
- You have credit card debt at a high APR (typically 20%+)
- Your credit score qualifies you for a 0% intro APR offer (usually 670+)
- You can realistically pay off the balance within the intro period
- The transfer fee is less than the interest you'd otherwise pay
Tips for Maximizing Your Savings
- Pay more than the minimum: Divide your balance by the intro period months to set your target monthly payment
- Avoid new purchases: New purchases on a balance transfer card may accrue interest at the regular APR
- Set a calendar reminder: Know exactly when your intro period ends to avoid being caught at the regular rate
- Don't close your old card: Keeping it open (with zero balance) helps your credit utilization ratio