If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.
Moving a credit card balance can lower interest costs or quietly make things worse. The difference comes down to timing, fees, and how fast you can pay the balance down.
This calculator is designed to answer one simple question: Does transferring your balance put more money back in your pocket, or not?
Enter a few details about your current card and the balance transfer offer you're considering. The calculator will estimate interest costs, fees, and payoff time so you can see whether the move actually helps.
Save ${{ computedData.btSameMonthlyPayment.savings | withCommas }} using a balance transfer card. You'll keep your current monthly payment (${{ computedData.btSameMonthlyPayment.monthlyPayment | withCommas }}).
Take full advantage of a Balance Transfer Card and save ${{ computedData.btMaxSavings.savings | withCommas }} by increasingdecreasing your monthly payment by ${{ computedData.btMaxSavings.monthlyChange | withCommas }}.
You would actually pay more overall by using a Balance Transfer Card.
If you pay the same amount (${{ computedData.btSameMonthlyPayment.monthlyPayment | withCommas }}) each month, it will take you {{ computedData.btSameMonthlyPayment.payoffTime }} total months (* {{ computedData.btSameMonthlyPayment.payoffChange }} months less) (* {{ computedData.btSameMonthlyPayment.payoffChange }} months more) (* same as current plan) to pay off your credit card balance of ${{ computedBalanceOwed | withCommas }}. Your total interest amount will be ${{ computedData.btSameMonthlyPayment.interestPaid | withCommas }}, and you will still save ${{ computedData.btSameMonthlyPayment.savings | withCommas }}. This assumes you do not make any additional charges during this period.
If you increase the amount you pay to decrease the amount you pay to keep the amount you pay as ${{ computedData.btMaxSavings.monthlyPayment | withCommas }} each month, it will take you {{ computedBtIntroPeriod }} months to pay off your credit card balance of ${{ computedBalanceOwed | withCommas }}. Your total interest amount will be ${{ computedData.btMaxSavings.interestPaid | withCommas }}. This assumes you do not make any additional charges during this period.
TIP
Based on the information entered, a balance transfer credit card would cost you more money in the long run. You may want to consider a personal loan instead.
Fee Disclosure: Some balance transfer credit cards may charge additional fees. These can include both annual fees and balance transfer fees. Check your card's terms and conditions for fee amounts. Your credit card will also have a balance transfer limit that restricts how much you can transfer. This limit should be listed in your cardholder agreement and will often be available by logging into your online account.
The calculator compares two scenarios:
You'll see a side-by-side cost breakdown so you can decide whether a balance transfer actually helps or if it just shifts debt around.
You don't need exact penny-perfect numbers, but the closer you are, the more useful the results will be.
Once you see the results, try adjusting the payment amount or APR to test different scenarios.
After you enter your information, the calculator will estimate:
If the "savings" are small, or negative, that's a signal to slow down before applying.
A balance transfer shifts existing debt from one credit card to another. You're not paying a card with a card -- you're moving the balance to a new account that agrees to take it.
Some cards accept transfers automatically. Others don't allow them at all. Cards that do will clearly list balance transfer terms in their pricing details.
The appeal is straightforward: if the new card charges less interest than the old one, more of your payment goes toward the balance instead of interest.
Introductory 0% APR offers can be valuable, but only within their window.
Once the promotional period ends, any remaining balance begins accruing interest at the card's regular rate. If that rate is high, savings can disappear quickly.
This calculator helps you estimate whether your planned monthly payment is fast enough to beat the clock.
Almost all balance transfers come with a fee, typically between 3% and 5% of the amount moved.
That fee is added to your balance immediately. So even with a lower interest rate, you're starting slightly behind.
For smaller balances or short payoff timelines, the fee can cancel out the benefit. That's why it's included in the calculation.
Balance transfers are limited by your available credit on the new card.
A few things to keep in mind:
If your balance is larger than the approved limit, you may need multiple cards or a different strategy altogether.
Once you know what kind of terms you need, focus on:
We track and review balance transfer credit cards based on introductory APR length, transfer fees, and ongoing rates so you can compare options side by side before applying. See our best balance transfer credit card picks today.
Please note that this calculator is not personalized financial advice and should not be considered or used as such. Nor are we promising that by use of this calculator, will you be able to save more money, preserve wealth, or otherwise.
Some cards advertise no-fee transfers for a limited time, but most charge a fee. Always check the fine print before assuming there's no cost.
Applying for a new card may cause a short-term dip due to a credit inquiry. Over time, reducing balances and lowering utilization can help offset that impact.
Please note that this calculator is not personalized financial advice and should not be considered or used as such. Nor are we promising that by use of this calculator, will you be able to save more money, preserve wealth, or otherwise.