Balance Transfer Calculator
Calculate how much you can save with a balance transfer. Compare current credit card costs with a balance transfer offer.
Step 1: Current Credit Card
Understanding Your Current Card
Enter your current credit card balance, annual percentage rate (APR), and how much you pay each month. This helps calculate how much you’re currently spending on interest.
Step 2: Balance Transfer Offer
About Balance Transfers
Balance transfers move your debt to a new card with a lower promotional rate, typically 0% for 12-24 months. There’s usually a transfer fee (1-5% of the balance).
Balance Transfer Savings Results
Total Savings with Balance Transfer
Balance Transfer Offers Comparison
| Transfer Offer | Promotional APR | Transfer Fee | Total Savings |
|---|
Payment Timeline Comparison
Balance Transfer Formula
Savings = (Current Card Interest) – (Transfer Fee + Promotional Interest)
To calculate your savings: Compare the total interest you’d pay on your current card versus the transfer fee plus any interest during and after the promotional period.
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