Balance Transfer Payoff Calculator
Calculate how long it will take to pay off a balance transfer and how much interest you’ll save. Compare different payment strategies and APR periods.
Step 1: Balance Transfer Details
Understanding Balance Transfers
A balance transfer moves debt from one credit card to another, usually with a lower introductory APR. This calculator helps you determine if a balance transfer will save you money based on your payment plan.
Step 2: Payment Strategy
Payment Strategy Tips
Pay before intro period ends: Aim to pay off the entire balance before the introductory APR expires.
Calculate minimum: Ensure your monthly payment is higher than the interest accrual.
Avoid new purchases: New purchases on balance transfer cards often don’t get the intro rate.
Balance Transfer Payoff Results
Time to Payoff
Payment Strategy Comparison
| Strategy | Payoff Time | Total Interest | Total Cost | Monthly Payment |
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Monthly Payment Schedule
| Month | Payment | Interest | Principal | Remaining Balance |
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