Balance Transfer Calculator — Credit Card Savings Estimator
Find out whether a balance transfer is worth it: compare total interest on your current card versus a new card with a promotional rate, after deducting the transfer fee.
$
%
%
%
months
%
$
Total interest saved minus the transfer fee
- 1
Transfer fee
5,000 × 3% = 150Added to the new card starting balance. - 2
Interest saved vs current card
1,300 − 250 = 1,050 - 3
Net savings from transfer
1,050 − 150 = 900Positive: the transfer saves more than the fee.
How does this calculator work?
Transfer your balance to a 0% intro APR card, add the transfer fee (3–5%) to get the new starting balance, then simulate payoff at the same monthly payment. Savings = current-card interest − new-card interest − fee. A $5,000 balance at 22.99% APR transferred to 0% for 18 months (3% fee) with $300/month payments saves roughly $1,400 in interest.
Formula
How this is calculated
The calculator simulates month-by-month payoff on two paths: keeping the balance on your current card, and transferring it to a new card with an introductory promotional rate. On the new-card path, the transfer fee (typically 3–5% of the balance) is added to the starting balance before simulations begin.
For each month of the simulation, interest is calculated on the remaining balance using the current APR (current card) or the applicable rate on the new card — the intro APR for the first n months, then the post-intro APR thereafter. The same monthly payment is applied to both paths. The payoff month is when the balance reaches zero.
Savings = total interest paid on the current card minus total interest paid on the new card minus the upfront transfer fee. If that number is negative, the fee costs more than the savings — the transfer is not worthwhile at your payment level. Pay as much as possible during the intro period to maximise the benefit; allowing the high post-intro rate to take over can eliminate the advantage.
Frequently asked questions
A transfer is worth it when the interest saved during the promotional period exceeds the upfront transfer fee. The larger your balance, the higher your current APR, and the longer the intro period, the more you save. Crucially, you must make payments large enough to pay off (or nearly pay off) the balance before the post-intro rate kicks in.
Applying for a new credit card creates a hard inquiry, which typically reduces your score by a few points temporarily. However, if the transfer lowers your credit utilisation ratio (balance ÷ credit limit), your score can recover and even improve over time. Keeping the old card open (without adding debt) helps utilisation.
The remaining balance is charged at the post-intro APR, which is often as high as or higher than your original card rate. To avoid this, plan your monthly payment so the balance reaches zero within the intro period — or negotiate an extension. This calculator shows the payoff timeline so you can check before committing.
Also known as
TG we-Calculate Editorial Team. (2026). Balance Transfer Calculator — Credit Card Savings Estimator [Online calculator]. TG we-Calculate. https://we-calculate.com/calculator/balance-transfer-calculator
TG we-Calculate Editorial Team. "Balance Transfer Calculator — Credit Card Savings Estimator." TG we-Calculate. 2026. https://we-calculate.com/calculator/balance-transfer-calculator.
TG we-Calculate Editorial Team, "Balance Transfer Calculator — Credit Card Savings Estimator," TG we-Calculate, 2026. [Online]. Available: https://we-calculate.com/calculator/balance-transfer-calculator
@misc{wecalculate_balance_transfer_calculator, title = {Balance Transfer Calculator — Credit Card Savings Estimator}, author = {{TG we-Calculate Editorial Team}}, howpublished = {\url{https://we-calculate.com/calculator/balance-transfer-calculator}}, year = {2026}, note = {TG we-Calculate} }
Did this calculator help you?