Balance Transfer Calculator
FinanceCompare the cost of paying off credit card debt with vs. without a balance transfer to a lower-rate card.
Total Savings From Transferring
How much you'd save (or lose, if negative) by transferring your balance instead of keeping it on your current card.
Total Cost Without Transfer
$4,900.00
Total cost if you kept paying off the balance on your current card.
Total Cost With Transfer
$4,235.00
Total cost if you transfer the balance, including the transfer fee and both the promotional and post-promotional interest.
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Odeh Ahwal0people find this calculator helpful
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Frequently Asked Questions
How is balance transfer savings calculated?
Both scenarios are computed using simple (non-amortizing) interest on the balance over the payoff period, for a straightforward comparison. The transfer scenario adds a one-time transfer fee, applies the promotional rate for its window, then the post-promo rate for the remaining months.
Is a balance transfer always worth it?
It's usually worth it if the interest saved during the low/0% promotional period exceeds the transfer fee -- but if you can't pay off the balance before the promotional period ends, the post-promo rate (often similar to or higher than your original rate) can erode much of the benefit.
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