Balance Transfer Calculator
Balance Transfer Calculator
Compare staying on your current card against moving the balance to a card with a promotional rate, after the transfer fee. Nothing is stored.
Estimate assumes fixed payment and no new charges. Read the card's terms; the promo rate ends after the intro period and deferred-interest rules can vary.
How a balance transfer works
A balance transfer moves debt from a high-rate card to a new card offering a low or zero percent promotional rate for a set period, usually in exchange for a transfer fee of about 3 to 5 percent. If you clear most of the balance before the promo ends, you can save on interest. The calculator compares staying put against transferring, after the fee.
The fine print that decides it
Two things determine whether a transfer pays off: the fee and how much you clear during the intro period. If the balance is still large when the promotional rate expires, the remaining balance reverts to a regular rate, which can erase the savings. A transfer also usually requires good credit to qualify for a worthwhile offer.
When a transfer is not the answer
Balance transfers help people who can realistically pay the balance down during the promo window. If the debt is too large for that, or if your credit will not qualify you for a good offer, other paths such as a consolidation loan, a debt management plan, or debt settlement may fit better. A free review can compare them.
How this calculator works
This tool simulates two payoffs at the payment you enter: staying on your current card at its rate, and transferring to a new card that charges the intro rate during the promo period and the regular rate after, plus the transfer fee added to the balance. It totals the interest for each path and reports the difference. A transfer saves money only when the interest avoided exceeds the fee, which usually requires clearing most of the balance before the promo ends.
Sources and references
These figures come from primary sources, which are updated as the rules change:
Frequently Asked Questions
Is a balance transfer worth it?
It can be if you clear most of the balance during the promotional period and the interest saved exceeds the transfer fee. The calculator on this page compares staying on your current card against transferring, after the fee, so you can see the estimated difference.
How much is a balance transfer fee?
Most balance transfer fees run about 3 to 5 percent of the amount transferred, charged up front and usually added to the new balance. The calculator includes the fee in the comparison.
What happens when the promotional rate ends?
Any balance left when the intro period ends reverts to the card's regular rate, which can be high. That is why a transfer pays off most when you can clear the balance before the promo expires.
Do I need good credit for a balance transfer?
Usually yes. The best zero percent offers generally require good to excellent credit. If your credit does not qualify you for a worthwhile offer, a transfer may not be an option, and other paths could fit better.
What if my balance is too large to transfer or pay off?
If the debt is too large to clear during a promo window, a balance transfer may only delay the problem. Options like a consolidation loan, a debt management plan, or debt settlement may be worth comparing in a free, no-obligation review.
Does CuraDebt issue cards or transfers, and is it a lender or law firm?
CuraDebt is a free service that reviews the information you submit and, where appropriate and permitted by law, matches you with independent, licensed providers for debt relief or tax resolution. CuraDebt is not a law firm and does not provide legal or tax advice. Results vary and are not guaranteed.
Add this calculator to your website
This tool is free to use and free to embed. Copy the code below to place it on your own site; it keeps a link back to the source.
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