Balance Transfer Calculator
Whether moving a card balance to a promotional rate saves money once the transfer fee is counted, and what is left when the offer ends.
Result…
How it's calculated
Fee = balance × fee %; new balance = balance + fee Each month: interest = balance × rate ÷ 12 (promotional rate during the offer, then the later rate); balance = balance + interest − payment Saving = interest staying − (interest after transfer + fee)
A balance transfer moves debt to a card with a low or zero rate for a set number of months, usually for a fee. It saves money when the interest avoided is larger than the fee, and works best when the payment clears most of the balance before the offer ends. This compares both cards at the same monthly payment.
Your numbers, step by step
About the Balance Transfer calculator
This balance transfer calculator shows whether moving a card balance to a promotional offer saves money once the fee is counted. Enter the balance, your current card's APR, the transfer fee as a percentage, the promotional rate and how many months it lasts, the rate after that, and what you will pay each month. The calculator runs both cards month by month at the same payment: the balance staying where it is, and the balance plus the fee on the new card. It gives the interest each way, the fee, the balance still owed when the promotion ends and the net saving, or the extra cost if staying is cheaper. A transfer helps most when the payment clears most of the debt inside the offer, and every step is shown so you can check the fee and the months against the offer's terms.
How to use it
- Enter the “Balance to transfer” and the “Current card APR”.
- Enter the “Transfer fee”, the “Promotional APR” and the “Promotional period” in months from the offer.
- Enter the “APR after the promotion”, the rate that applies once the offer ends.
- Enter the “Monthly payment” you can keep up on either card.
- Read the saving, the interest each way and the “Balance left when the promotion ends”.
Worked example
A 6,000 balance at 24% APR, paying 300 a month, clears in 26 months with 1,739.24 of interest. Moving it with a 3% fee adds 180.00, so the new card starts at 6,180.00. At 0% for 15 months, 1,680.00 is left when the offer ends, and at 22% after that it clears in 21 months with 108.94 of interest. The transfer costs 108.94 + 180.00 = 288.94, saving 1,450.30.
Updated
Questions people ask
How do I work out if a balance transfer is worth it?
Add the transfer fee to the interest you would pay on the new card, including after the offer ends, and compare it with the interest on your current card at the same payment. If the first total is smaller, the transfer saves money.
How is a balance transfer fee calculated?
It is usually a percentage of the amount moved, added to the new balance; some offers also set a minimum fee in money. Check the offer, because fees differ by issuer and country.
What happens to the balance when the 0% period ends?
Whatever is left starts to charge the later rate. The calculator shows that remaining balance so you can raise the payment to clear more inside the offer.
Can a balance transfer cost more than staying put?
Yes, if the fee is large, the offer is short or the later rate is higher than your current one and a big balance is left. The calculator then shows the extra cost instead of a saving.
What does this balance transfer calculator not include?
New spending, late-payment rules that end an offer early, daily interest and changing rates. Read the offer's terms, and speak to the card issuer or a debt adviser before moving a large debt. To see the minimum payment trap on your current card, try the credit card minimum payment calculator.