Finance Tools
Balance Transfer Calculator
Compare the cost of staying with your current credit card versus moving your balance to a new card with an introductory APR and transfer fee.
Compare the cost of staying with your current credit card versus moving your balance to a new card with an introductory rate and transfer fee.
How to use this balance transfer calculator
- Enter your current credit card balance, APR, and monthly payment.
- Enter the transfer fee percentage for the new card.
- Enter the introductory APR, the intro period length in months, and the go-to APR after the intro period.
- Click Compare balance transfer to see payoff time and total interest with and without the transfer.
Example
For a $5,000 balance at 22% APR with a $200 monthly payment, moved to a card with a 3% transfer fee, 0% APR for 12 months, and 18% APR after that, this calculator shows:
- How long it will take to pay off the balance if you stay on your current card.
- How long it will take after transferring to the new card.
- The total interest cost in each case and how much you can save.
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