Quick answer: A balance transfer can help when the promo period is long enough and the transfer fee is smaller than the interest avoided.
Who this calculator is best for
Use it before applying for a 0% APR balance transfer card or moving a large credit card balance.
How to use the result
- Use the calculator as an estimate, not a promise from a lender or card issuer.
- Keep minimum payments current before making extra payments.
- Recalculate when APR, balance, payment amount, or income changes.
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FAQ
Is a 3% transfer fee worth it?
It can be worth it if the avoided interest is higher than the fee and you can pay down the balance during the promo.
What is the biggest risk?
Failing to pay enough before the promo ends, then carrying the remaining balance at a high APR.
Editorial note: BigBears calculators are educational tools. They do not provide financial, credit, tax, or legal advice.