Balance Transfer Timeline Calculator
Calculate how long it will take to pay off your balance transfer and see how much you can save in interest compared to your current card.
Step 1: Current Debt Details
19.9%
£200
Understanding Your Current Debt
Your current APR directly affects how much interest you’ll pay. Higher APRs mean more of your payment goes toward interest rather than principal.
Step 2: Balance Transfer Offer
2.5%
18 months
18.9%
About Balance Transfers
A balance transfer moves your debt to a card with a lower interest rate, usually 0% for a promotional period. The transfer fee is typically 2-3% of the balance.
Balance Transfer Results
Summary
Transfer Comparison
Payoff Timeline
Total Savings with Balance Transfer
£412
Based on £5,000 balance with 0% APR for 18 months
Months to Pay Off (Current)
34 months
Months to Pay Off (Transfer)
28 months
Total Interest (Current)
£1,412
Total Cost (Transfer)
£1,000
Balance Transfer Offers Comparison
| Card Offer | Promo Period | Transfer Fee | Total Savings | Payoff Time |
|---|
Monthly Payoff Schedule
Balance Transfer Formula
Balance Transfer Cost = Balance × (1 + Transfer Fee%) + Monthly Payments × Months
This calculation compares the total cost of paying off debt with your current card versus transferring to a 0% promotional offer.
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