Credit card balance transfer calculator
Before you decide to do a credit card balance transfer, you should figure out how long it will take you to pay off your debt. You can use our balance transfer tool to find out when you'll be able to pay off your debt! Simply input details about your current credit card and your new card — we'll do the rest.
Balance Transfer Calculator
Estimated Savings
Payoff Schedule
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Balance Transfer Calculator – Compare Savings and Payoff with a New Card
Having a balance on a high-interest-rate credit card can feel like you’re being financially trapped. And with interest service charges continuing to accrue each month, it feels like your payments just cover the interest, and your principal balance barely moves. One of the most effective ways to fight credit card debt is to use a balance transfer,especially if you can take advantage of a 0% introductory APR offer.
The Balance Transfer Calculator allows you to estimate how much interest you would save – and how fast you would pay off your debt – if you transferred your existing balance to a new credit card account that offers an introductory rate. It compares your current repayment process with a new repayment process and provides you with a side-by-side comparison of your total payments, how long to pay off your loan, and your total interest costs.
How to Use This Calculator
To obtain accurate results, start by entering the information for your current credit card. Then enter the terms for your new balance transfer card. The calculator will automatically calculate your projected savings, payoff time, and whether the transfer is worth it.
Your Current Credit Card Details
Current Balance
Enter the total amount you currently owe on your credit card. This is your starting balance and the principal amount being considered for transfer.
Current Interest Rate
Input the current APR (Annual Percentage Rate) being charged on your credit card. Many cards have rates between 18% and 29%, which significantly increases the cost of carrying a balance.
Current Monthly Payment
How much do you currently pay each month toward this credit card. This will be used to calculate how long it will take to pay off your balance if you don’t transfer.
New Balance Transfer Card Details
0% Intro APR Length
Enter how many months the 0% introductory APR period lasts. Common promotional offers range from 12 to 21 months. During this time, no interest is applied to your transferred balance.
APR After Intro Period
What is the APR after the promotional 0% APR ends? This rate will apply to any remaining balance not paid off during the intro period.
Balance Transfer Fee
Many credit cards charge a fee—typically 3% to 5%—to process a balance transfer. Enter the percentage fee here. The calculator will factor this into your total costs.
Why Use a Balance Transfer Calculator?
Not all balance transfer offers are created equal, and moving your balance from one card to another isn’t always the right move. This calculator helps you:
- Understand how much interest you can save with a 0% intro APR
- Compare payoff timelines between your current card and a new one
- Decide whether the transfer fee is worth it
- Build a strategy to pay off your debt faster and more efficiently
When you run your numbers prior to applying for another card, you eliminate the surprises and are far better equipped to make an educated financial decision.
Once you have filled in all of the fields, click the “Calculate” button, and you will see a complete comparison of your existing repayment plan compared to the balance transfer offer. You will derive information related to Total Interest Saved, Time to Payoff, and the rationale for a potential switch.