More in Funds & Goals
What this calculator does
This calculator compares the interest you would pay on your current card against the transfer fee on a 0% promo card. It shows the breakeven point.
The math
Current interest cost = balance × APR × (promo term ÷ 12). Transfer cost = balance × transfer fee %. Breakeven = when current interest exceeds transfer cost.
Worked example
A $5,000 balance at 24.99% costs about $1,560 in interest over 15 months. A 3% transfer fee costs $150. The transfer saves over $1,400.
Why this matters
Saving and investing work best when the timeline is concrete. This calculator replaces vague goals with a date, a contribution, or a target you can automate.
Methodology and transparency
This page publishes the exact formula used to compute the result, so you can verify it in a spreadsheet or check the assumptions against your own situation. The worked example uses the tool default inputs; change any number and the result updates live in your browser. No data is sent or stored.
Common questions
When is a balance transfer worth it?
When the transfer fee is much smaller than the interest you would pay during the promo period.
What if I do not pay off the balance during the promo?
Any remaining balance may be charged the new card's regular APR, possibly wiping out your savings.
Are there hidden fees?
Some cards charge annual fees or retroactive interest if the balance is not paid in time. Read the terms.