Balance transfer calculator
A 0% offer isn’t free: there’s a fee up front and a rate waiting at the end. See whether the move actually saves you money.
You save
$1,530
Fee earned back in month 2
To clear it before the promo ends, pay about $344 a month.
What decides whether a transfer pays off
- The fee vs the interest you avoid. The break-even month is when the interest you’ve dodged exceeds the fee.
- How much is left when the promo ends. That remainder is charged the go-to APR, so a transfer you can’t clear in time saves less.
- Behaviour. Moving a balance frees up the old card. If it fills up again, you have two balances.
Prefer one fixed payment and a set end date? Compare a consolidation loan. Several cards? Build a full plan with the debt payoff calculator.
Questions people ask
Is a balance transfer worth it?
It usually is when the transfer fee (typically 3–5%) is less than the interest you’d pay by staying, and you can clear most or all of the balance before the promo period ends. It’s rarely worth it if you’ll keep spending on the old card or can only make small payments.
How is the balance transfer fee charged?
It’s added to the new card’s balance on the day of the transfer, usually 3% or 5% of the amount moved, sometimes with a $5 minimum. On $6,000 at 3% that’s $180 added to what you owe.
What happens when the 0% period ends?
Any remaining balance starts accruing interest at the card’s regular purchase or transfer APR. Under US rules, interest on a 0% promotional balance isn’t charged retroactively (unlike “deferred interest” store financing), but the go-to rate is often above 20%.
What monthly payment clears the transfer within the promo?
Divide the balance plus fee by the number of promo months. For $6,000 with a 3% fee over 18 months, that’s about $344 a month.