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Find out how much you save by moving credit card debt to a lower-rate card. Factors in transfer fees, promotional periods, and the rate after the intro offer ends.
A balance transfer moves existing credit card debt to a new card, typically to take advantage of a 0% introductory APR offer lasting 12 to 21 months. Most US issuers charge a transfer fee of 3–5% of the amount transferred upfront. On a $10,000 balance at 22% APR, a 5% transfer fee ($500) is recovered in roughly 3–4 months compared to making interest-only payments — after which every month in the promo period is pure savings. The math only works if you pay down the balance before the promotional period ends. Whatever balance remains when the intro rate expires begins accruing interest at the card's standard go-to APR, which is often 20–28%. Use this calculator to see your total interest savings after accounting for the upfront transfer fee, how much balance remains at the end of the promo period, and whether the transfer is worth it based on your monthly payment amount.
Usually yes, if you carry a high-APR balance. On a $5,000 balance at 22% APR, a 3% transfer fee ($150) costs less than one month of interest at the current rate (~$91/month). If your monthly payment is $200, a 15-month 0% offer saves substantially more than the fee.
The remaining balance starts accruing interest at the card's standard APR (the post-promo rate), which is often 20–28%. Some cards also retroactively charge interest from the transfer date if the balance is not paid in full — check your card agreement for deferred interest clauses.
Opening a new card causes a small temporary dip from the hard inquiry (typically 5–10 points). However, if the transfer lowers your overall utilization ratio, it can improve your score within 1–2 billing cycles, often more than offsetting the initial dip.
No. Most US issuers do not allow balance transfers between their own cards. Citibank, Chase, Bank of America, and others all prohibit transferring from one of their cards to another of their cards.
Yes. The transfer limit is typically capped at your new card's credit limit minus any existing balance. Some issuers also cap transfers at 75–90% of the credit limit. Contact the issuer to confirm before initiating a large transfer.
Have more questions? These calculators provide estimates for educational purposes only. For personalized financial advice, consult with a qualified financial professional. See our disclaimer for more information.
$8,000 balance at 22% APR, transferred to a 0% card with a 3% fee and 18-month promo, paying $500/month
{
"current_balance": 8000,
"current_apr": 22,
"transfer_apr": 0,
"transfer_fee": 3,
"promo_period_months": 18,
"monthly_payment": 500,
"post_promo_apr": 24
}