Balance Transfer Calculator (0% Offer Savings)
Enter the balance, current APR, transfer offer and your monthly payment.
Your numbers
Your results
Balance Transfer Calculator (0% Offer Savings) by TheCalcTools
How the Balance Transfer Calculator (0% Offer Savings) works
A balance transfer moves debt to a card with a low or 0% introductory APR, usually for a fee of 3% to 5% of the amount. Any balance left after the promotional period is charged the card’s regular APR.
To get the full benefit, pay enough each month to clear the transferred balance (including the fee) before the promotion ends, and avoid new purchases on the card.
The formula
Worked example
Using the default values shown in the calculator:
| Balance to transfer | $6000 |
|---|---|
| Current card APR | 24 % |
| Promotional APR | 0 % |
| Promotional period (months) | 18 |
| Transfer fee | 3 % |
| Monthly payment | $300 |
| APR after the promotion | 26 % |
- Moving 6,000 to an 18-month 0% card with a 3% fee costs $180.00.
- Paying 300 a month, fee and interest total $211.50 instead of $1,738.76: you save $1,527.26.
Result:
| Transfer fee | $180.00 |
|---|---|
| Interest if you stay | $1,738.76 |
| Fee plus interest with the transfer | $211.50 |
| Savings | $1,527.26 |
| Monthly payment to clear it within the promotion | $343.33 |
| Balance left when the promotion ends | $780.00 |
Frequently asked questions
Is a balance transfer worth the fee?
Usually yes if you can repay within the promotion: a 3% fee is far less than a year of interest at 20% or more.
Sources and further reading
Related calculators
More in Loans & Debt · All calculators
This calculator gives estimates for information only. It is not financial advice, and your lender's or provider's figures will govern. Rates, fees and rules vary. See our disclaimer.