# Balance Transfer Calculator Calculate how much you save with a credit card balance transfer. Compare interest costs, transfer fees, and net savings. Free balance transfer calculator. ## What this calculates Find out if a credit card balance transfer saves you money with our free calculator. Enter your current balance, APR, the transfer card's promotional rate, transfer fee, and your monthly payment to see interest saved, net savings, and payoff timelines. ## Inputs - **Current Balance** ($) — min 0 — Your current credit card balance. - **Current APR** (%) — min 0, max 40 — Your current credit card annual percentage rate. - **Transfer APR** (%) — min 0, max 30 — The APR on the balance transfer card (often 0% promotional). - **Transfer Fee** (%) — min 0, max 10 — The one-time transfer fee as a percentage of the balance (typically 3-5%). - **Promotional Period (Months)** — min 1, max 24 — How many months the promotional APR lasts. - **Monthly Payment** ($) — min 0 — How much you plan to pay per month toward the balance. ## Outputs - **Transfer Fee** — formatted as currency — The one-time fee charged for the balance transfer. - **Interest Saved** — formatted as currency — The interest you would save during the promotional period by transferring. - **Net Savings** — formatted as currency — Interest saved minus the transfer fee. Positive means the transfer is worth it. - **Months to Pay Off (Current APR)** — How many months to pay off the balance at the current APR. - **Months to Pay Off (Transfer APR)** — How many months to pay off the balance at the promotional transfer APR. ## Details A balance transfer moves existing credit card debt to a new card with a lower interest rate, often 0% APR for a promotional period of 12-21 months. The trade-off is a one-time transfer fee of typically 3-5% of the transferred balance. This calculator helps you determine whether the interest savings exceed the fee. The key to making a balance transfer worthwhile is having a plan to pay off the balance during the promotional period. If you transfer $8,000 at 3% fee ($240 cost) and avoid paying 22% APR interest for 18 months, you could save over $2,000 in interest. However, if you only make minimum payments and still have a large balance when the promo expires (often reverting to 18-28% APR), you may not come out ahead. To maximize savings: pay as much as possible during the 0% period, do not make new purchases on the transfer card (which may not qualify for the 0% rate), and set a payoff goal to clear the balance before the promotional rate expires. Most balance transfer cards require good to excellent credit (700+ FICO score) for the best offers. ## Frequently Asked Questions **Q: Is a balance transfer worth it?** A: A balance transfer is worth it when the interest savings exceed the transfer fee and you have a plan to pay off the balance during the promotional period. For example, transferring $5,000 from a 22% APR card to a 0% card with a 3% fee ($150) saves about $1,100 in interest over 12 months. The larger your balance and the longer the promo period, the more you save. **Q: Does a balance transfer hurt your credit score?** A: Opening a new credit card creates a hard inquiry (small temporary dip) and lowers your average account age. However, a balance transfer can improve your credit utilization ratio if the new card has a high limit. Overall, the impact is usually neutral to slightly positive in the medium term, especially if you successfully pay down the debt. **Q: What happens after the promotional period ends?** A: After the promotional period, the remaining balance is charged at the card's regular APR, which is often 18-28%. Any balance not paid off during the promotional period becomes subject to this higher rate. Some cards even retroactively charge interest on the entire original balance if it is not paid in full. Always check the card's terms. --- Source: https://vastcalc.com/calculators/finance/balance-transfer Category: Finance Last updated: 2026-04-21