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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

Enter Your Details

$
%
%

0% for promotional offers

Length of promotional period

%

Usually 1-3% of transferred amount

$
$
%

Rate that applies after 0% ends

Real-World Examples

$8,000 Balance Transfer

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

Inputs:

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.

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

How to Use
  1. Enter your current balance and interest rate
  2. Add the new card's transfer terms (rate, period, fee)
  3. Set your planned monthly payment
  4. Include any annual fee on the new card
  5. Compare 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
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