Transferring a balance from a high interest credit card to a new Discover it card with a low introductory interest rate can reduce your interest charges and help you get out of debt faster.

Sounds good, right? A balance transfer can be a great tool for paying down debt. We’ll help you crunch some numbers to see if a balance transfer is right for you.

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Here are the numbers that go into your balance transfer calculation:

  • How much you want to transfer
  • Your current card’s annual percentage rate (APR)
  • Your new Discover it card’s introductory APR
  • The term for balance transfers
  • Your new card’s standard APR
  • The balance transfer fee

Now let’s calculate your savings

Enter a few details about your transfer and see how a balance transfer can help. These savings are based on a 0% Intro APR for 12 months, then a 11.24%–24.99% standard variable APR and a 3% transfer fee.

Your available credit will limit the amount you can transfer. Your savings may vary depending on your available credit, your offer, and your standard variable rate. This calculator is just a tool–it’s not a firm offer of credit.


Estimated Savings

($0 per month for 12 months)

Pay Off Your Balance in


Interest and Fees

Current Card(s)


Discover Card


Your Monthly Payment: Edit Monthly Payment
Monthly payment needed to pay off balance within intro period: $0
How We Calculated This
Interest you would’ve paid (17% avg.) $0
Interest with Discover during intro period (0%) $0
Interest with Discover after intro period (24.99%) $0
Transfer fee (3%) $0
Estimated savings $0

No estimated savings

With the current APR and monthly payment you entered, this offer won’t help you save money on interest. Try entering a higher APR or adjusting your monthly payment to see more savings.

Savings are estimated using the highest standard variable rate available. Your savings may be higher based on your standard variable rate.

Adjusting your monthly payment will impact your savings. To save the most on interest, you should plan on paying off your debt during the intro period. But even if you can’t pay off your full balance during the introductory period, you may still save on interest after paying your transfer fee, as long as the standard variable purchase APR of your new card is less than your current rate.

Ready to start saving? See if you qualify for a Discover it card

Transfer your high interest balances to a new Discover it card and you could get a 0% Intro APR for 12 months, then 11.24% – 24.99% standard variable purchase APR. With a 3% transfer fee.

Already a Discover cardmember? Log in to see your offers

Here are a few other factors to consider:

  • The goal of a balance transfer is to pay off existing debt and not add to it. However, in case of emergencies it’s important to know what the standard purchase APR is because it may be different from the introductory APR.
  • If you make one late payment on your new card you could lose your 0% APR and it may trigger the penalty APR.
  • If you are transferring a balance to an existing card and you usually pay for purchases in full each month to avoid interest, transferring a balance will change that. You will be charged interest on purchases unless you choose to pay your entire balance in full, including any transferred balances, by the first payment due date.

To determine the value of a balance transfer offer you need to pay close attention to the fine print. The savings you could achieve by making a balance transfer vary depending on your personal financial situation. To ensure you will be getting the best deal, take some time to compare offers and use this balance transfer calculator to determine how much you will save.

Discover card believes that consumers should be armed with the information they need to help them make informed credit decisions.

Legal Disclaimer: The articles and information provided herein are for informational purposes only and are not intended as a substitute for professional advice.
  1. Information and interactive calculators are made available as self-help tools for your independent use and are intended for educational purposes only.
  2. For comparison purposes, we applied Discover’s Minimum Payment Due calculation to the balance you entered.
  3. Assumes interest accrues over the duration of the intro period on the balances and APRs you provided and the offer details above.
  4. Assumes no other existing balances or new transactions are made to the account.
  5. Assumes the daily balance method (including new transactions) is used.
  6. Your savings will vary.

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