Balance Transfer Calculator
Balance Transfer Calculator
Current Card
New Card (Balance Transfer Offer)
Is the Transfer Worth It?
Month-by-Month Balance
| Month | No Transfer | With Transfer |
|---|---|---|
| 1 | $7,867 | $7,940 |
| 2 | $7,730 | $7,640 |
| 3 | $7,591 | $7,340 |
| 4 | $7,449 | $7,040 |
| 5 | $7,305 | $6,740 |
| 6 | $7,157 | $6,440 |
| 7 | $7,006 | $6,140 |
| 8 | $6,852 | $5,840 |
| 9 | $6,694 | $5,540 |
| 10 | $6,534 | $5,240 |
| 11 | $6,370 | $4,940 |
| 12 | $6,203 | $4,640 |
| 13 | $6,032 | $4,340 |
| 14 | $5,857 | $4,040 |
| 15 | $5,679 | $3,740 |
| 16 | $5,498 | $3,440 |
| 17 | $5,312 | $3,140 |
| 18 ⭐ | $5,123 | $2,840 |
| 19 | $4,929 | $2,592 |
| 20 | $4,732 | $2,340 |
| 21 | $4,531 | $2,082 |
⭐ = end of promo period
Based on your results — what to do next:
Calculate full credit card payoff
Your $8,000 at 24.99% APR — see minimum payment traps and avalanche payoff strategies.
Tackle all your debts with a payoff plan
After clearing $8,000, a debt avalanche strategy eliminates remaining balances fastest. See the schedule.
Track your net worth as debt drops
Eliminating $8,000 in credit card debt boosts your net worth by the same amount — track your progress.
A balance transfermoves high-interest credit card debt to a new card with a 0% promotional APR for 12–21 months, letting you pay down principal without interest accumulating. This calculator compares the total interest you'll pay with and without the transfer, factors in the balance transfer fee (typically 3%–5%), and shows whether the deal saves money — or ends up costing more if you don't pay off the balance in time.
How the Balance Transfer Calculator Works
The calculator runs two parallel payoff simulations. Without the transfer, your balance compounds monthly at your current APR. With the transfer, a fee is added to the balance, then the balance accrues 0% interest during the promo period. Any remaining balance after the promo period begins compounding at the post-promo APR. Net savings = interest saved − transfer fee.
| Factor | Impact on Whether Transfer Is Worth It |
|---|---|
| Current APR | Higher current APR = more savings from 0% promo. At 29.99%, transferring $8,000 for 18 months saves ~$3,000 in interest. |
| Transfer Fee | A 5% fee on $8,000 = $400 upfront cost that must be offset by interest savings to justify the transfer. |
| Monthly Payment | Higher payments eliminate the balance faster during the 0% window. Always target paying off the full balance before promo ends. |
| Post-Promo APR | If balance remains after promo, the post-promo rate (often 20–29%) erases savings. Calculate whether you can realistically pay off in time. |
| Promo Length | Longer promo periods (18–21 months) allow lower monthly payments while still paying off debt interest-free. |
Example: $8,000 balance at 24.99% APR, $300/mo payment, 3% transfer fee, 18-month 0% promo. Without transfer: $1,936 in total interest, 32 months to pay off. With transfer: $240 fee + $0 interest during promo (balance paid off in 27 months) = $240 total cost. Net savings: $1,696. The transfer is clearly worth it.
⚠️ Expert Pro-Tip
Divide the Balance by Promo Months — That's Your Required Monthly Payment: The single biggest mistake with balance transfers is making minimum payments and discovering a large balance remains when the 0% period ends. Divide your new balance (including the fee) by the promo months to get the monthly payment needed for full payoff at 0% interest. On a $8,240 balance ($8,000 + 3% fee) with an 18-month promo, you need $458/mo. Set up autopay for this exact amount the day you receive the new card. Also: don't make new purchases on the balance transfer card — many issuers apply payments to the 0% balance first, letting new purchases accumulate interest at the full rate.
Frequently Asked Questions: Balance Transfers in 2026
Which credit cards offer the best balance transfer deals in 2026?
Top offers in 2026 include Citi Simplicity (21 months, 3% fee), Wells Fargo Reflect (21 months, 5% fee), Discover it Balance Transfer (18 months, 3% fee), and Chase Slate Edge (18 months, 3% fee, waivable). Compare total cost = fee + projected remaining interest after promo. A longer 0% window at a higher fee sometimes beats a shorter window at a lower fee depending on your payoff speed.
Can I transfer a balance from one card to another at the same bank?
No. Most banks prohibit balance transfers between their own cards. You cannot transfer a Chase card balance to another Chase card, or a Citi card to another Citi card. You must transfer to a card from a different issuer. This is by design — issuers want to capture the balance, not just move it within their portfolio.
What credit score do I need for a balance transfer card?
Most 0% balance transfer cards require good to excellent credit — typically a FICO score of 670+. The best offers (21-month windows, lowest fees) generally require 720+. If your score is below 670, you may not qualify, or you may be approved for a shorter promo period with a lower credit limit. Check for pre-qualification offers (soft inquiry) before applying to avoid hard inquiry impact.
Will making minimum payments cause me to lose the 0% APR?
On most cards, making at least the minimum payment each month is required to maintain the 0% APR. A missed or late payment can trigger the “penalty APR” — which can be as high as 29.99% — and retroactively apply to your balance. Set up autopay for at least the minimum payment as a safety net, and aim to pay significantly more than the minimum to clear the balance before the promo ends.
Is it better to do a balance transfer or a personal loan?
A 0% balance transfer beats a personal loan if you can pay off the balance within the promo period — you pay no interest at all. If you need more than 21 months to pay down the debt, a personal loan (typically 8–18% APR in 2026 for good credit) may have a lower rate than the post-promo credit card APR (often 20–29%). Use our personal loan calculator to compare total interest at those rates against the balance transfer scenario.