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.
More tools in Finance Tools
- Credit Card Payoff Calculator
Estimate how long it will take to pay off a credit card based on balance, APR, and monthly payment.
- Debt Snowball Calculator
Use the debt snowball method to see how quickly you can pay off multiple debts using a fixed monthly budget.
- Debt Avalanche Calculator
Use the debt avalanche method to pay off debts by focusing on the highest interest rate first and minimizing total interest paid.
- Credit Card APR Savings Calculator
Estimate how much interest you could save by reducing your credit card APR, based on balance, payments, and payoff timeline.