Balance Transfer Calculator
A 0% intro APR can save real money — if the transfer fee doesn't eat the savings. Enter your balance, current APR, and the new card's terms to see the interest saved, the fee, and the month the transfer starts paying for itself.
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How it works
A balance transfer moves your balance to a new card with a low intro APR — often 0% for 12 to 21 months. During the intro period, every dollar of your payment attacks principal instead of interest. The catch is the fee: usually 3–5% of the amount transferred, added to your balance on day one.
Whether it wins depends on two things: how much of the balance you can clear before the intro period ends, and how big the fee is. A $5,000 transfer at a 3% fee costs $150 upfront. At 24.99% APR, that same balance would rack up about $104 of interest in the first month alone — so the fee pays for itself in under two months if you keep paying.
The transfer fails in two common ways: paying only the minimum during the intro period (so a big balance is still there when the revert APR hits), and using the old card again (new charges at full APR while you are still paying off the transfer). A transfer is a tool for paying debt down faster — not a pause button.
Frequently asked questions
What is a balance transfer fee?
A one-time fee charged when you move a balance to a new card, usually 3–5% of the transferred amount. On $5,000 at 3%, that is $150, added to your new balance on day one.
How long do 0% intro periods last?
Commonly 12, 15, 18, or 21 months. Longer intro periods usually come with higher fees or stricter credit requirements. After the period ends, the card's regular APR applies to any remaining balance.
What happens if I don't pay it off during the intro period?
The remaining balance starts accruing interest at the revert APR — often 20% or more. The transfer can still save money if you paid down most of the balance, but the savings shrink fast.
Can I transfer a balance to the same bank's card?
Usually no. Issuers generally do not allow transfers between two cards from the same bank. The transfer must go to a different issuer's card.
Does a balance transfer hurt my credit score?
Opening a new card causes a small, temporary dip from the hard inquiry and a lower average account age. Paying the balance down lowers your utilization, which usually more than offsets it over a few months.
Is there a break-even point?
Yes — the month where the interest you have saved passes the fee you paid. On a typical transfer it comes within the first 2–3 months, as long as you keep paying more than the minimum.
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