Is the balance transfer worth it?
All amounts in US dollars. Results update as you type — nothing is sent anywhere.
Your current card
The balance transfer offer
Transfer fee (added to new balance): –
Pay this monthly to be debt-free before the intro rate ends: –
Balance left when the intro rate ends (at your payment): –
A balance transfer is worth it when the interest you avoid is bigger than the fee. With a typical 3% fee, a $6,000 balance at 24% APR costs $180 to move — and saves well over $1,000 in interest if you pay it down during an 18-month 0% period.
How this calculator works
- Transfer fee: balance × fee %. Card issuers add it to your new balance, so you pay it off along with the debt.
- Staying put: each month we add interest (APR ÷ 12) to your current balance and subtract your payment until it reaches zero.
- Transferring: the same, but starting from balance + fee, at the intro APR for the promo months, then at the go-to APR.
- Savings: total cost of staying − (fee + total interest after transferring).
Monthly compounding is a close estimate. Real cards charge interest on your average daily balance, so your statements can differ by a few dollars — our guide to calculating credit card interest walks through the exact daily method.
3 checks before you apply
1. Can you clear it before the promo ends?
Look at the "pay this monthly" line above. If that number fits your budget, the transfer is close to a guaranteed win. If not, whatever is left rolls over to the go-to APR — often as high as the card you left. Not sure what you'd pay without a transfer? The credit card minimum payment calculator shows how long minimum-only payoff takes.
2. Read the fee terms
Fees usually run 3% to 5% of the amount transferred, often with a $5–$10 minimum. A handful of cards charge no fee at all for transfers made in the first weeks — worth comparing when your balance is large.
3. Don't add new spending to the new card
New purchases on a balance transfer card often don't get the 0% rate. Keep the card for the transferred debt only, and pay on time — a late payment can end the promo rate early on many cards.
Other ways to cut card interest
If you can't qualify for a 0% card, a fixed-rate personal loan can still beat a 24% APR. Compare both in our personal loan vs credit card breakdown, then run the numbers in the personal loan calculator. For savings and growth math, the interest calculator covers the other side of the coin.
Balance transfer questions, answered
How is a balance transfer fee calculated?
Multiply the amount you transfer by the fee percentage. Moving $6,000 with a 3% fee costs $180; at 5% it costs $300. Most issuers also set a small minimum, typically $5 to $10, and add the fee to your new card's balance.
Is a 3% balance transfer fee worth it?
Usually yes, if your current APR is high and you'll pay most of the balance during the intro period. At 24% APR, one year of interest on $6,000 is well over $1,000, so a $180 fee pays for itself within the first months.
What happens when the 0% intro period ends?
Any balance still left starts charging interest at the card's regular (go-to) APR from that point on. That's why the calculator shows the monthly payment needed to finish before the promo ends.
Does a balance transfer hurt your credit score?
Applying for a new card triggers a hard inquiry, which can dip your score slightly for a short time. Over time, paying the debt down lowers your credit utilization, which tends to help your score.
Is this financial advice?
No. This page does the math only. Offer terms vary by card and by your credit profile — always check the issuer's terms before you apply.
General information only, not financial advice. Results are estimates using monthly compounding and a fixed monthly payment; your issuer's actual interest, fees and minimum-payment rules may differ.