Balance Transfer Savings Calculator

See whether moving a balance to a new card actually saves money once the transfer fee is included.

Current balance ($) Current card APR (% per year) Monthly payment you plan to make ($) Transfer fee (% of balance) Promotional APR (% per year) Promotional period (months) APR after the promotion ends (% per year, optional)

-Interest if you stay

-Fee + interest if you transfer

-Estimated savings

This is a rough estimate for education, not financial advice. Real offers vary by issuer, and a hard credit inquiry and new account can affect your credit score. Nothing you type is sent anywhere.

How this is calculated

Staying put: your current balance is paid down at the current APR with your planned monthly payment until it reaches zero, and the interest along the way is totaled. Transferring: the fee is added to the balance, then the promotional APR applies for the promotional period, and any balance left over continues at the post-promotion APR (or your current APR if you leave that blank), using the same monthly payment throughout. The savings is the difference between the two total costs.

Frequently asked questions

Why might a transfer make things worse?

If the fee is large relative to the balance, or if you can only pay a small amount so the promotional period runs out before you finish, the transfer can end up costing more.

Should I keep the old card open?

Closing it can raise your credit utilization on remaining cards and shorten your average account age, both of which can lower your credit score. Many people keep old cards open with no balance.

Related: the debt payoff calculator and the credit utilization calculator.