Free Balance Transfer Savings Calculator
Calculate savings from transferring credit card debt to a 0% intro APR balance transfer card.
USD
%
%
months
USD
Net Savings (vs Keeping Card)
$2,640
Transfer Fee$240
Interest Saved During Intro$7,120
Balance After Intro Period$0
Net Savings (vs Keeping Card) vs Intro 0% APR Period
Balance Transfer Strategy
A balance transfer moves high-rate credit card debt to a card with 0% introductory APR.
Cost-Benefit Analysis
Interest saved = Balance x Monthly Rate x Intro Months
Transfer fee = Balance x Fee Percentage (typically 3-5%)
Net savings = Interest Saved - Transfer Fee
Key Rules
Example Calculation
$8,000 at 24% APR, transfer to 0% card with 3% fee for 18 months, paying $500/month.
- 01Transfer fee = $8,000 x 3% = $240
- 02Interest saved = $8,000 x 2% x 18 = $2,880 (approximate)
- 03Net savings = $2,880 - $240 = $2,640
- 04Balance after 18 months = $8,240 - ($500 x 18) = $0 (paid off in ~17 months)
Frequently Asked Questions
Learn More
How to Calculate Mortgage Payments
Learn how to calculate mortgage payments step by step. Understand the mortgage payment formula, principal vs. interest breakdown, escrow, PMI, and how to use amortization schedules.