Is a balance transfer worth it?

Usually yes if you can pay off most/all of the balance during the 0% period. The fee (1-3%) is typically far less than the interest you'd pay otherwise.

What happens if I don't pay it off in time?

The remaining balance starts accruing interest at the revert rate (often 20%+). You still saved on the interest during the 0% period, but ongoing costs increase.

Can I do another balance transfer when 0% ends?

Yes, but it gets harder. Each application affects your credit score, and you may not qualify for the best offers. Plan to pay it off, not roll it over.

Balance Transfer Calculator

Calculator

Calculate savings from transferring your balance to a 0% interest card

Free to useNo data storedAI insightsUpdated: February 2026

Balance transfers can save thousands in interest - but only if you pay off the balance before the promotional period ends. This calculator shows your true savings after fees.

Enter Your Details

Real-World Examples

$8,000 Balance Transfer

$8,000 from 20% card to 0% for 24 months, 2% fee, $400/month payments.

Inputs Used:

balance:8,000currentRate:20period:24fee:2payment:400

Transfer fee: $160. Without transfer: 22 months, $1,567 interest. With transfer: 20 months, $160 fee only. Net savings: $1,407!

Frequently Asked Questions

Glossary

Balance Transfer

Moving debt from one credit card to another, usually to take advantage of a lower interest rate.

Promotional Rate

A temporary low or 0% interest rate offered for a set period to attract balance transfers.

Revert Rate

The standard interest rate that applies after the promotional period ends.

Related Tools

Interest Calculator

Calculate current interest costs

Payoff Calculator

Plan your payoff strategy

Card Comparison

Compare balance transfer cards

How to Use

1Enter your current balance and interest rate
2Add the new card's transfer terms (rate, period, fee)
3Set your planned monthly payment
4Include any annual fee on the new card
5Compare total cost with and without transfer

Key Information

0% periods typically range from 12-30 months
Transfer fees are usually 1-3% of the balance
Rate after promo is often 20%+ (higher than average)
You must make minimum payments or lose the 0% rate

Pro Tips

Divide balance by promo months to get required monthly payment
Set up auto-pay to never miss a payment (they cancel 0% if you do!)
Don't use the new card for purchases - different rates may apply
If you won't pay it off, you might still save but less than expected

Avoid These Mistakes

Not paying off balance before promo ends
Missing a payment and losing the 0% rate
Making new purchases on the balance transfer card
Not accounting for the transfer fee in savings

Disclaimer: This calculator provides estimates only and should not be relied upon for financial decisions. Interest rates, fees, and policies change frequently. Always verify information with lenders directly. This is general information, not personal financial advice. Consider seeking advice from a licensed mortgage broker or financial advisor.

Last updated: February 2026