What is a balance transfer?

You move debt from one credit card to another card that offers a lower introductory APR, usually for a fee equal to 3–5% of the transferred amount.

Is a balance transfer always worth it?

No. If the transfer fee is larger than the interest you would save, or if you cannot pay off the transferred balance during the intro period, a transfer can cost more than staying with your current card.

What happens when the intro period ends?

Any remaining balance is charged the post-introductory APR of the new card, which can be similar to or higher than your existing card.

Does opening a new card affect my credit?

It can. A new hard inquiry and a new account age typically cause a small, temporary dip. Credit utilization changes can push scores up or down depending on your overall use.

Balance Transfer Calculator

Compare a balance transfer offer to your current card. This tool will not automatically call a transfer beneficial — it shows negative savings when the offer costs more.

Your current card

Current balance

Current APR

Current planned monthly payment

Balance transfer offer

Introductory APR

Often 0% — confirm on the offer.Introductory period (months)

Balance transfer fee

APR after introductory period

Monthly payment after transfer

Net difference

$2,482.62

Estimated savings vs. current card

Transfer fee

$180.00

Added to balance up front

Starting transferred balance

$6,180.00

Balance + transfer fee

Keep current card

Payoff time: 3 yr 10 mo
Total interest: $3,011.81
Total paid: $9,011.81

With balance transfer

Payoff time: 2 yr 9 mo
Total interest: $349.19
Transfer fee: $180.00
Total paid: $6,529.19
Paid off within intro?: No
Balance when intro ends: $2,580.00

Cost comparison

Keep current card$3,011.81

Interest $3,011.81

With balance transfer$529.19

Interest $349.19 Fee $180.00

Based on your inputs, transferring would save about $2,482.62 versus keeping the current card, after including the $180.00 transfer fee.

How this calculation works

Transfer fee = current balance × fee percent, added to the transferred balance.
The current card is simulated as a fixed monthly payment at the current APR.
The transfer scenario applies the intro APR for the intro months, then the post-intro APR.
Net difference = current-card interest − (transfer interest + fee).
Both scenarios use the same simplified monthly-interest model as our payoff calculator.

Important limitations

Deferred-interest and retroactive-interest offers are not modeled.
New purchases on the new card may accrue interest immediately and are ignored here.
Approval, credit limit, and eligibility for any offer are not guaranteed.
Results are educational estimates only.

Frequently asked questions

What is a balance transfer?: You move debt from one credit card to another card that offers a lower introductory APR, usually for a fee equal to 3–5% of the transferred amount.
Is a balance transfer always worth it?: No. If the transfer fee is larger than the interest you would save, or if you cannot pay off the transferred balance during the intro period, a transfer can cost more than staying with your current card.
What happens when the intro period ends?: Any remaining balance is charged the post-introductory APR of the new card, which can be similar to or higher than your existing card.
Does opening a new card affect my credit?: It can. A new hard inquiry and a new account age typically cause a small, temporary dip. Credit utilization changes can push scores up or down depending on your overall use.

Payoff Calculator →Interest Calculator →