Balance Transfer Calculator – Calculate Your Transfer Fee & Savings
Calculate your balance transfer fee and see exactly how much you can save by transferring your credit card balance to a 0% APR card. Our balance transfer savings calculator compares staying on your current high-interest card versus paying a one-time balance transfer fee for 0% interest during the promotional period.
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Current Card
Payoff time: 26 months (2.2 years)
Total interest: $2,571
Balance Transfer Card
Transfer fee: $300
Payoff time: 21 months
Total interest: $182
You Save $2,090
Balance Transfer FAQs
Is a balance transfer worth it?
If you can pay off the transferred balance within the 0% intro period (typically 12-21 months), a balance transfer almost always saves money. For example, $10,000 at 22% APR costs $2,200/year in interest. Transferring to a 0% card with a 3% fee costs $300 — saving $1,900 in the first year alone.
What credit score do I need for a balance transfer card?
Most 0% APR balance transfer cards require a good to excellent credit score (670+). If your score is below 640, you may not qualify for the best offers. Check your score before applying — hard inquiries temporarily ding your credit.
What fees are involved in a balance transfer?
Most cards charge a balance transfer fee of 3-5% of the transferred amount. Some credit unions offer 0% fee transfers. Always calculate whether the fee is less than the interest you would pay on your current card.
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