Should I Transfer Balance on Credit Card?
Free calculator to see if a credit card balance transfer will save you money
Your Current Credit Card
Enter your existing balance and rate
Check your statement for your current APR
Balance Transfer Offer
Enter the transfer card details
Usually 0% for promotional period
Typically 3-5% of the transferred amount
Common periods: 12, 15, 18, or 21 months
Enter your credit card details and click "Should I Transfer?" to see your personalized recommendation.
Frequently Asked Questions
Should I transfer balance on my credit card?
You should transfer your credit card balance if: (1) you can get a 0% APR promotional offer, (2) you can pay off most or all of the balance during the promo period, and (3) the transfer fee is less than the interest you'd otherwise pay. Use our calculator above to see if it's worth it for your specific situation.
Is a balance transfer worth it?
A balance transfer is worth it if you can pay off most or all of the balance during the promotional 0% APR period, and the transfer fee is less than the interest you'd otherwise pay.
What is a typical balance transfer fee?
Balance transfer fees typically range from 3-5% of the transferred amount. Some cards occasionally offer no-fee transfers as promotional offers.
How long are 0% APR balance transfer offers?
Promotional 0% APR periods typically last 12-21 months. The best offers provide 18-21 months of 0% interest.
What happens after the balance transfer promo period ends?
After the promotional period, any remaining balance will accrue interest at the card's regular APR, which is typically 15-25%. This is why it's important to pay off as much as possible during the promo period.
How do I calculate if a balance transfer saves money?
To calculate balance transfer savings: (1) Calculate the total interest you'd pay on your current card, (2) Add up the transfer fee plus any interest during and after the promo period, (3) Subtract to find your savings. Our free calculator above does this automatically.