Compare your current credit card with a balance-transfer offer, including the transfer fee, promotional rate, payoff time and estimated interest savings.
Compare the offer with keeping your current card.
A balance transfer calculator compares the estimated cost of keeping debt on an existing credit card with moving it to a card offering a promotional APR. It includes the transfer fee, promotional period and the regular APR that may apply afterward.
A 0% promotional rate does not necessarily mean a free transfer. Most offers charge a fee, and any balance remaining when the promotion ends may begin accruing interest at the standard APR.
Add the balance, current APR and monthly payment you plan to maintain.
Enter the fee, promotional APR, promotional length and post-promotion APR.
Review estimated payoff times, interest, transfer cost and remaining promo balance.
| Factor | Current card | Balance transfer |
|---|---|---|
| Starting cost | Existing balance | Balance plus possible transfer fee |
| Interest rate | Current APR | Promo APR, then standard APR |
| Main risk | Ongoing high interest | Balance remains after promotion |
| Best comparison | Total future interest | Fee plus all transfer interest |
It may be worthwhile when the expected interest savings exceed the transfer fee and you can follow the repayment plan without adding new debt.
The fee is commonly a percentage of the transferred amount. Some offers also apply a minimum dollar fee.
Any remaining balance generally begins accruing interest at the offer’s standard or post-promotional APR, subject to the card agreement.
Many issuers do not allow internal balance transfers. Check the offer’s eligibility requirements before applying.
Applying may create a hard inquiry and opening a new account can affect several credit factors. The longer-term impact depends on balances, payments and account management.