Analyzes the math of moving debt to a 0% introductory rate card, factoring in the upfront balance transfer fee.
Balance Transfer Calculator
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How to Use This Calculator
Enter your current balance and rate, then compare it with the 0% promo length and the transfer fee.
Frequently Asked Questions
Is a balance transfer always worth it?
Only if the interest you save during the 0% promo period is greater than the upfront transfer fee.
What is the Balance Transfer Calculator designed to do?
The Balance Transfer Calculator reveals whether the upfront 3-5% transfer fee is worth the interest you will save during the 0% promotional period.
When will the Balance Transfer Calculator say it’s a bad idea?
If you can pay off the debt in just 1 or 2 months, the Balance Transfer Calculator will show that the transfer fee costs more than the interest saved.
Does the Balance Transfer Calculator assume I pay it off in time?
Yes, the Balance Transfer Calculator calculates the exact monthly payment required to hit a $0 balance before the 0% promo expires.
Can the Balance Transfer Calculator hurt my credit?
The calculator is just math, but opening the new card will cause a hard inquiry. However, reducing your credit utilization helps your score!