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Balance Transfer Calculator
Enter your card balance and APR, the new card's promo APR, promo length and transfer fee, your monthly payment and the APR after the promo. See how much interest you save after the fee, the balance still left when the promo ends, how long payoff takes, and the payment needed to be debt-free before the promo expires.
Last updated:
Current card
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%
Balance transfer offer
%
months
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Your plan
$/ mo
Enter your values to see the result.
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How to use the Balance Transfer Calculator
- Enter your balance and current APR.
- Enter the new card's promo APR, promo length and transfer fee (often 3%–5%).
- Enter the monthly payment you plan to make and the APR after the promo.
- Read the interest saved, the balance left at the end of the promo and the payoff time.
- Check the payment needed to clear the balance before the promo ends.
How a balance transfer is calculated
- Transfer fee = balance × fee %. It is added to the new balance.
- During the promo, monthly interest = balance × promo APR ÷ 12 (zero at 0%), so the whole payment reduces the balance.
- After the promo, interest = balance × regular APR ÷ 12 each month until the balance is paid off.
- Interest saved = interest on the current card − (interest on the new card + transfer fee), with the same monthly payment in both cases.
- Payment to clear during a 0% promo = (balance + fee) ÷ promo months.
Monthly payment to clear a transfer during a 0% promo
Includes a 3% transfer fee added to the balance.
| Balance | 12 months | 15 months | 18 months | 21 months |
|---|---|---|---|---|
| $2,000.00 | $171.67 | $137.33 | $114.44 | $98.10 |
| $5,000.00 | $429.17 | $343.33 | $286.11 | $245.24 |
| $8,000.00 | $686.67 | $549.33 | $457.78 | $392.38 |
| $10,000.00 | $858.33 | $686.67 | $572.22 | $490.48 |
| $15,000.00 | $1,287.50 | $1,030.00 | $858.33 | $735.71 |
Frequently asked questions
Is a balance transfer worth it?
It is worth it when the interest you avoid is larger than the transfer fee, and you can pay off most or all of the balance during the promo period. For example moving $8,000 from a 24.99% card to 0% for 18 months with a 3% fee costs $240 upfront but can save well over $1,000 in interest.
How is the balance transfer fee calculated?
It is a percentage of the amount transferred, usually 3% to 5%, often with a minimum such as $5. The fee is added to your new card balance, so a $8,000 transfer with a 3% fee starts at $8,240.
What happens to the balance when the promo ends?
Any remaining balance starts accruing interest at the card's regular APR from that month. The calculator shows the balance left at that point and the interest it will cost afterwards.
How much should I pay each month?
To be debt-free before the promo ends at 0%, divide the new balance (including the fee) by the number of promo months. The calculator shows this amount and tells you if your planned payment falls short.
Does a late payment end the promo rate?
With many cards, yes: a late payment can cancel the promotional APR. Check the card terms and set up automatic payments.
Are new purchases included?
No. This calculator models only the transferred balance. New purchases on the card may accrue interest at a different rate and payments may be applied differently, so avoid using the card for purchases during the promo.
Is my data uploaded?
No. Everything is calculated locally in your browser.
Are all the tools on FreeToolCabin tested for quality and accuracy?
Yes! Every tool on our site undergoes automated Q/A testing in real browser environments to ensure high precision, correct output, and zero errors. If you happen to spot a bug or have a suggestion, please contact us at [email protected] and our team will review it right away.
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