Balance Transfer Calculator

Your details

The amount you plan to transfer to the new card.
The annual percentage rate charged by your existing card.
%
The fixed amount you plan to pay each month. This same payment amount is used for both scenarios so the comparison is apples-to-apples.
Most cards charge 3% to 5% of the transferred amount as a one-time fee.
%
The introductory rate. Most promotional offers are 0%.
%
The number of months the promotional rate lasts.
months
The regular APR that applies once the promotional period ends.
%
Currency
Net savingsTransfer saves money
$1,583.62

Total interest saved minus the transfer fee. Positive = transfer wins.

Transfer fee$150.00
Interest on current card$1,871.08
Interest on new card$137.46
Months to pay off (current)35months
Months to pay off (new card)27months
Payment to clear before promo ends$286.11
Balance at promo end$1,550.00
Keep current card$1,906.08
Balance transfer$314.46

Net savings: $1,583.62

  • Total interest
  • Months to pay off

The balance transfer saves you $1583.62.

  • After the transfer fee of $150.00, balance transfer saves you $1583.62 in total interest.
  • At your current payment of $200.00/month, you will still owe $1550.00 when the 18-month promotional period ends and the higher rate kicks in.
  • To clear the entire balance before the promo expires, you need to pay $286.11 per month.
  • Balance transfer cards often require good to excellent credit (typically 670+). Check that you qualify before applying.

Next stepIncrease your monthly payment to at least $286.11 to avoid post-promo interest, or look for a card with a longer promotional period.

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