The fee gets a seat at the table
The headline forgot to invite the fee. I brought it anyway.
This is the Balance Transfer Calculator.
Compare keeping the balance where it is with moving it, including the transfer fee and the rate after the promo ends. The headline rate is not the whole calculation. This is a comparison, not a recommendation to open a card.
How this calculator works
- The transfer fee is added to the transferred balance on day one.
- During the promo months, interest uses the promo APR; after that, the regular APR applies to whatever is left.
- Both scenarios use the same monthly payment so the comparison is fair.
- The "clear it during the promo" payment is the level payment that reaches $0 by the last promo month.
Results are estimates for planning, based only on the numbers you enter. Your lender's statement is the final word. See the full methodology and how we test the math.
Is a balance transfer worth it?
A balance transfer moves debt from one card to another, usually at a low promotional APR (often 0%) for a set number of months. Most cards charge a transfer fee, often a percentage of the amount moved, which is added to your new balance on day one. A transfer saves money when the interest you avoid during the promo is more than the fee, and when you can pay off most or all of the balance before the promo ends.
A worked example
This is a test case on our methodology page: a $6,000 balance at 24.99% APR, moved to a card with a 3% fee and 0% APR for 15 months.
- The fee is $180, so you start with $6,180.
- Paying $412 a month clears it within the 15 months.
- Paying $300 a month leaves $1,680 when the promo ends. At 24.99% that takes 7 more months and $124.90 in interest.
At $300 a month, the transfer costs $304.90 in total (fee plus interest). Staying on the old card costs $1,841.43 in interest over 27 months. The fee is earned back by month 2.
How to read your results
- Transfer fee: the dollar cost of moving the balance. Try 3%, 4% or 5% to match the offers you’re comparing.
- Pay this to clear it during the promo: the level monthly payment that reaches $0 by the last promo month.
- Balance when the promo ends: what’s left to pay at the regular rate.
- Transfer vs stay: total interest plus fee, compared with your current card at the same monthly payment.
Watch for these
- Deferred interest is different. Some store cards and financing offers say “no interest if paid in full”. If any balance is left at the end, interest can be charged back to the start. This calculator doesn’t model that; read your offer terms.
- A late payment can end the promo early on many cards. Set up automatic payments for at least the minimum.
- New purchases on the new card may get a different rate, and payments may be applied differently. The calculator assumes no new purchases on either card.
- Approval and limits are up to the card issuer. Your credit limit may be lower than the amount you want to move.
Don’t need a new card?
If a transfer doesn’t save enough after the fee, a fixed monthly payment plan may work just as well. Try the credit card payoff calculator, or compare payoff orders across several debts in the snowball vs avalanche calculator.
What this calculator assumes
The fee is added on day one, and the promo APR applies for the months you enter. After that, the regular APR applies to whatever is left. Interest is monthly at APR ÷ 12, rounded to the cent, and both scenarios use the same payment. Results are estimates; your card agreement and statements are the final word. See the full methodology and our disclaimer.
Keep the deadline in view
The Debt Payoff Planner Pro spreadsheet keeps each debt’s promo end date and the rate that follows next to your payoff plan, so you can see what’s due before the promo ends.