What is the credit card balance transfer calculator?
In short
Transferring a $5,000 balance at 22.99% APR to a card with a 3% fee and 18-month 0% intro period saves approximately $1,247 in interest — even after the $150 transfer fee. The fee breaks even within 2 months and the balance pays off 8 months faster.
This balance transfer calculator compares the total cost of keeping your current credit card balance versus transferring it to a new card with a 0% introductory APR. It accounts for the transfer fee, the intro period length, the post-promo APR, and your monthly payment to show your exact interest savings.
How to use this calculator
- 1Enter your current balance and the APR on your existing card.
- 2Enter your planned monthly payment — this should be enough to pay off the balance before or shortly after the promo period ends.
- 3Enter the new card's transfer fee (%), length of the 0% intro period, and the APR that applies after the promo ends.
- 4Review your interest savings, transfer fee, and both payoff timelines to decide whether the transfer is worth it.
The formula
- B
- — Current balance
- f
- — Transfer fee rate (e.g. 0.03 for 3%)
- r₀
- — Intro APR (usually 0%)
- r₁
- — Post-promo monthly rate (APR ÷ 12)
- P
- — Monthly payment
Worked example
The scenario
$5,000 balance at 22.99% APR, $200/month payment, 3% transfer fee, 18-month 0% intro, 19.99% post-promo APR.
The result
Current card: pays off in 30 months, $1,397 total interest. Transfer card: $150 fee added, pays off in 28 months at 0% during promo, $5,150 total cost. Savings: $1,397 − $150 = $1,247. Break-even on the fee: month 2.
Common use cases
- Deciding whether a specific balance transfer offer is worth taking.
- Comparing multiple card offers with different fees and intro periods.
- Planning a debt payoff strategy to minimize total interest paid.
- Calculating how long the 0% period needs to be to justify the transfer fee.
Limitations & assumptions
- Assumes a fixed monthly payment — if you pay minimums, payoff will take much longer.
- Does not model new purchases on either card, which would increase the balance.
- Post-promo APR is variable on most cards and may change — use a conservative estimate.
- Balance transfer approval, credit limit, and fee details depend on the specific card offer.
Frequently asked questions
Is a 3% balance transfer fee worth it?
What happens if I don't pay off the balance during the 0% period?
How long should the 0% intro period be?
Does a balance transfer hurt my credit score?
Can I transfer a balance from one Chase card to another?
Disclaimer: KalkWise calculators are provided for general informational and educational purposes only and do not constitute financial, investment, tax, or legal advice. Results are estimates based on the figures you enter and the assumptions described above. Actual outcomes will vary. Consult a qualified professional before making financial decisions.