Find out whether moving your card balance to a 0% or low-rate offer really saves money once the transfer fee is counted, and what to pay to clear it before the promo ends.
Your card today
$
%
$
The transfer offer
%
%
months
%
Is the transfer worth it?
Estimated savings
$0
Monthly payment to be debt-free before the promo ends
$0
Transfer fee—
Interest if you stay on your card—
Fee + interest if you transfer—
Payoff time if you stay—
Payoff time if you transfer—
Balance left when the promo ends—
Your balance over timeAt the monthly payment you entered
Stay on your cardTransfer
How this is calculated
Staying: each month interest = balance × APR ÷ 12, then your payment is applied, until the balance is zero.
Transferring: the fee (balance × fee %) is added on day one; the promotional APR applies for the promo months, then the APR after the promo.
Savings = interest if you stay − (fee + interest if you transfer). Payment to clear it before the promo ends: M = B × r(1+r)n ÷ ((1+r)n − 1), or B ÷ n at 0%.
A balance transfer moves debt from one card to another, usually to get a low or 0% promotional APR for a set number of months. Most cards charge a transfer fee, often 3% to 5% of the amount moved, which is added to the new balance on day one. Whatever you haven't paid off when the promotion ends starts charging the regular APR. By law an introductory rate must last at least six months unless you are more than 60 days late on a payment (CFPB), and a transfer fee can be charged even on a 0% offer (CFPB on transfer fees).
The transfer pays off when the interest you avoid is larger than the fee, which is almost always true for a meaningful balance if you pay it down during the promotion. The key number is the payment that clears the balance before the promo ends: pay at least that, don't add new purchases to the card, and pay on time every month: falling more than 60 days behind can cost you the promotional rate. If you can't qualify for a transfer card or need longer, compare a fixed-rate personal loan or read balance transfer vs. personal loan.
Common questions
Is a 3% balance transfer fee worth it?
Usually yes if you are paying a typical card APR: a 3% fee is about what one or two months of interest cost at 20% to 25% APR. The savings grow the faster you pay the balance down during the promotion.
What happens when the 0% promo ends?
Any balance left starts charging the card's regular APR from that point. Most promotions don't charge back interest, but some store cards use deferred interest, so read the terms.
Does a balance transfer hurt my credit score?
Applying for a new card causes a hard inquiry and a new account, which can lower your score slightly for a while. Paying the balance down lowers your credit utilization, which usually helps over time.