Credit Cards
Balance Transfer Calculator
A 0% offer is not free — you pay a fee up front, and the promotional rate ends whether or not the balance does. The transfer wins when the interest you skip exceeds the fee, and that turns on one thing: whether your payment clears the balance before the window closes.
Keep this the same on both cards — that is what makes the comparison fair.
Usually 3–5% of the balance, charged once.
You save by transferring
$1,892
Interest avoided, after the transfer fee is deducted.
Your payment leaves a balance when the promotion ends, and it will then accrue at 24.9%. Paying the transferred balance ÷ promotional months each month is what makes these offers work.
- Transfer fee
- $240
- Interest if you stay put
- $2,173
- Interest if you transfer
- $41
- Balance when the promotion ends
- $1,040
- Months to clear where you are
- 2 years 2 months
- Months to clear after transferring
- 1 year 9 months
This amount starts accruing at the post-promotional rate.
How this calculator works
Both paths are run with the same monthly payment. On your current card, interest accrues monthly at the APR ÷ 12 on the remaining balance. On the new card, the fee is added to the balance up front, nothing accrues during the promotional window, and the leftover then accrues at the go-to rate until it clears.
Net saving is interest avoided minus the transfer fee. The comparison assumes no new spending on either card, payments applied on schedule, and the promotional rate surviving the full window — all three fail in practice more often than the maths does.
Try an example
Frequently asked questions
Is a balance transfer worth the fee?
It is when the interest you avoid exceeds the fee. A 3% fee on $8,000 is $240 — against a 22.9% card, that is roughly six weeks of interest. The offer almost always wins on arithmetic; where it fails is behaviour, when the freed-up payment gets spent instead of clearing the balance.
What payment do I need to clear it in time?
Divide the transferred balance, fee included, by the number of promotional months. On $8,240 over 18 months that is $458 a month. Anything less leaves a remainder that starts accruing at the go-to rate, which is usually higher than the card you left.
Does a balance transfer hurt my credit score?
A new card means a hard inquiry and a lower average account age, both small and temporary. The larger effect usually runs the other way: a new card raises your total limit, which lowers utilisation. Keep the old card open and paid off rather than closing it.
Can I transfer a balance between cards from the same bank?
Almost never. Issuers do not let you move a balance from one of their cards to another, since they would be refinancing their own debt at 0%. The transfer has to come from a different bank.
What happens if I miss a payment during the promotion?
Read the terms before you rely on the rate. Many cards end the promotional APR after a late payment, and some apply the go-to rate to the whole remaining balance. Set up autopay for at least the minimum on the day the statement posts.
Related calculators
Credit Card Payoff Calculator
How long to pay off your credit card at your current payment — and the exact monthly amount to be debt-free in 12, 24, or 36 months.
Debt Payoff Calculator — Snowball vs Avalanche
Enter up to three debts and compare the snowball and avalanche strategies head-to-head: payoff dates, total interest, and what the difference costs.
Debt Consolidation Calculator
See whether consolidating your debts into one loan lowers your payment and total interest — compared against finishing your current debts as they are.
Credit Utilization Calculator
Work out your credit utilization ratio, see which band it falls in, and find exactly how much to pay down to reach a target before your statement closes.
Disclaimer: DayCents provides this calculator for educational purposes only. Results are estimates based on your inputs and the stated assumptions — they are not financial advice, a quote, or an offer of credit. Consult a qualified financial professional before making major money decisions.