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Balance Transfer Calculator
The comparison uses a fixed payment and no new purchases. It also calculates the monthly amount needed to clear the transferred balance before the promotional rate expires.
Private by design: calculations run in your browser. This tool does not submit, save, or track the financial values you enter.
Your balance and payment
Currency: USD
Promo: 0% for 18 months
Fee: 3%
Comparison results
Enter an offer to compare
Results include the transfer fee and any post-promotional interest.
Estimated net savings
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Monthly payment to clear within promo
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Transfer fee
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Balance after promo
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Fee break-even
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Payoff time change
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Transfer balance
- Payoff
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- Months
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- Interest
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- Interest + fee
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- Total paid
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Monthly payoff schedule
| Month | Payment date | Opening balance | APR | Payment | Interest | Principal | Closing balance |
|---|
How the balance transfer comparison works
1. Current-card path
The balance accrues interest at the current APR, then the fixed monthly payment is applied until the balance reaches zero.
2. Transfer path
The fee is either added to the new balance or counted as an upfront cost. The promotional APR applies for the entered number of months, followed by the post-promo APR.
3. Net savings
Net savings equals current-card interest minus transfer interest and the transfer fee. A negative result means the transfer costs more under these assumptions.
Monthly interest = opening balance × APR ÷ 12
Transfer fee = greater of (balance × fee %) or minimum fee
Net savings = current interest − transfer interest − transfer fee
Payments are assumed to arrive at the end of equal monthly periods. The final payment is capped at the amount owed.
How to compare a balance transfer offer
- Copy the exact terms. Use the balance transfer APR, fee, promotional duration, and APR that applies afterward—not the purchase APR unless it is the same.
- Use a realistic payment. Compare both options with an amount you expect to pay every month, above any required minimum.
- Check more than the headline rate. Review net savings, the remaining balance at promo expiry, break-even month, and total payoff time.
- Test a safer target. Compare your payment with the amount shown to clear the transferred balance before the promotion ends.
What can change the real result?
- Daily interest: many issuers use a daily periodic rate and average daily balance, while this calculator uses APR ÷ 12 for a transparent monthly estimate.
- Offer expiry: check the exact statement cycle or calendar date when the promotional rate ends and the rate that follows.
- Minimum payments: this tool assumes the fixed payment you enter is at least the amount your issuer requires in every month.
- New purchases: they are excluded. Purchases may have another APR, may lose a grace period, and can change how payments are allocated.
- Late payments and variable rates: penalty terms, lost promotions, changing index rates, annual fees, and foreign-exchange costs are not modelled.
- Transfer limits: a new card's credit limit may prevent you from transferring the full balance.
Important: This calculator is an educational estimate, not financial advice or a credit offer. Check the cardholder agreement and disclosure for the exact fee, promotional end date, post-promotional APR, minimum payment, and consequences of late payment. If payments are unaffordable, consider speaking with a qualified nonprofit debt adviser before applying for more credit.
Method references
- Consumer Financial Protection Bureau: introductory balance transfer rate duration and post-promo disclosures
- Consumer Financial Protection Bureau: daily periodic rates, average daily balance, and payment allocation
- Consumer Financial Protection Bureau: purchase interest and grace periods after a balance transfer
- Regulation Z § 1026.16: promotional-period and post-promotional-rate disclosures
Balance transfer calculator FAQs
How is a balance transfer fee calculated?
This calculator uses the greater of the entered percentage fee or minimum fee. If the fee is added to the new balance, it can also incur interest; if paid upfront, it is still included in the transfer's total cost.
Does a 0% balance transfer mean the transfer is free?
Not necessarily. A transfer fee may apply, and any balance left after the promotional period can accrue interest at the post-promotional APR.
What happens when the promotional APR ends?
The calculator applies the entered post-promotional APR to the remaining transferred balance from the next modelled month onward. Check the offer for the exact expiry date and rate.
Is balance transfer interest charged retroactively?
A standard promotional APR is generally applied during its stated period and the later rate applies to the remaining balance afterward. This differs from deferred-interest offers, which may charge previously deferred interest if their terms are not met. Always check the wording of your offer.
How much should I pay to clear the balance before the offer ends?
The “monthly payment to clear within promo” amortizes the transferred starting balance over the promotional months at the promotional APR. A fee paid upfront is separate from that monthly amount.
Should I use the new card for purchases?
This calculator assumes no new purchases. Purchases can have a different APR and may not receive a grace period while a transferred balance remains, so check the card agreement.
Why might my statement differ from this estimate?
Issuers may accrue interest daily using average daily balances, use different cycle lengths and rounding, apply payments among balance types, or change variable rates. This tool uses monthly APR divided by 12.
Does this calculator store my card information?
No. The values are processed in your browser and are not submitted by this calculator.