Credit Card Balance Transfer Calculator

Balance transfers are a great way to lower debt and save money on interest by moving a credit card balance at a higher APR to a card with a lower interest rate. That could mean a lower monthly payment, lower minimum payment or even an earlier payoff date as you consolidate debt.

Before you get a new balance transfer card, however, be sure to understand your terms, including any promotional purchase APR or balance transfer APR. And review your standard APR and likely interest charge after the promotional period is over. Remember that your balance transfer fee is on top of any annual fee or other account fee. And if you use most of your credit limit for a balance transfer, it could impact the amount of credit you have to make a purchase or get a cash advance.

Be sure to use our balance transfer calculator to help decide on the right kind of balance transfer to save money with a lower interest charge or pay off your balance sooner.

The amount of debt you can transfer on a balance transfer card depends on your credit limit and other factors, including how much credit line you’ve already used. If you’re looking for a new balance transfer credit card, you may not know how much debt you can transfer until you’re approved for an account and issued a credit limit.

While a balance transfer credit card will allow you to transfer debt from your existing credit card or multiple credit cards, it may not transfer debt from other sources, such as a personal loan. Be sure to contact the balance transfer credit card issuer for their terms.

A balance transfer fee is the amount you’ll pay to the new credit card with the lower interest rate. The balance transfer fee is usually a percent of the total debt you’re transferring. You can use our balance transfer calculator to help decide if your new lower APR makes your balance transfer fee worth paying.