Finance category
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Balance Transfer Calculator
See whether a 0% introductory APR balance transfer actually saves money once the transfer fee and post-intro rate are in play. Compare side-by-side total interest and payoff time.
Most cards charge 3–5% of the transferred amount.
months
Stay on current card
$2,626
total interest over 31 months
Transfer balance
$347
transfer fee + interest over 24 months
The transfer breakdown
Transfer fee
$240
Paid during intro
$6,300
Balance at intro end
$1,940
Post-intro interest
$107
Transferring saves an estimated $2,279 vs staying on the current card.
To maximize savings, pay the balance plus fee off before the intro period ends.
How to Use
- Enter your current credit card balance, APR, and the monthly payment you plan to keep making.
- Enter the balance transfer fee (usually 3–5% of the transferred amount) and the length of the 0% intro period.
- Add the post-intro APR that would apply to any balance remaining after the intro window.
- Compare total cost: interest on the current card vs transfer fee + any post-intro interest.
- Ideally, pay off the transferred balance before the intro window ends to keep post-intro APR interest at zero.
Frequently Asked Questions
What is a balance transfer fee?
A fee charged upfront to move a balance to a new credit card, typically 3–5% of the transferred amount. Some cards waive the fee entirely but usually offer a shorter 0% window.
Will a balance transfer hurt my credit?
Opening a new card adds a hard inquiry and lowers your average account age slightly. The new available credit often lowers utilization, which can help scores. Net effect: small, and usually short-term.
What happens if I don't pay off before the intro ends?
Any balance remaining after the intro period accrues interest at the card's regular APR, usually 18–25%. Some cards charge deferred interest retroactively on the original balance if it's not paid in full — always read the terms.
Can I transfer the balance more than once?
You can chain transfers between cards, but each one adds a new transfer fee. Stacking multiple transfers tends to erode savings unless the new window covers a much longer payoff period.
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