September 18, 2025
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4 min read
Our credit card balance transfer calculator shows exactly how much money you could save by moving high-interest debt to a card with a 0% introductory APR period. Instead of watching hundreds of dollars disappear into interest payments, every dollar you pay goes directly toward eliminating your balance.
The calculator estimates your potential savings by comparing two scenarios: keeping debt on your current high-interest card versus transferring it to a 0% APR card. The results assume you'll pay off the debt within the promotional period using equal monthly payments..
Your existing credit card balance appears on your monthly statement or online account. Enter the total balance owed, not the minimum payment amount (which is typically displayed more prominently).
Your current interest rate (APR) is listed in the "Interest charges" or "Interest charge calculation" section of your statement. Look specifically for the "purchase APR" – this is the rate applied to your transferred balance.
Transfer fees range from 3% to 5% of the amount transferred. You'll find this information in the Schumer box – a required disclosure table available on the card's marketing page (look for "See rates and fees" or "See terms"). A typical fee structure reads "3% of amount transferred, or $10, whichever is greater." For transfers over a few hundred dollars, you'll pay the percentage amount.
The 0% introductory period length also appears in the Schumer box under "Annual percentage rate for balance transfers." This tells you how many billing periods you get at 0% before the rate jumps to the regular APR.
Your calculator results show potential savings based on two key assumptions:
If your target card offers 18 months at 0%, the calculator compares:
The difference equals your potential savings.
Pro tip: Planning to pay off debt faster than the full promotional period?
Your payment schedule dramatically affects total interest costs. Consider a $3,000 debt at 16% interest:
Monthly Payment Total Interest Payoff Time $1,400 $65 3 months $500 $148 7 months $190 $390 18 months $120 $674 31 months
The calculator assumes consistent monthly payments that eliminate debt within your chosen timeframe.
Without a balance transfer, your debt costs compound over time. Simply dividing your balance by months won't give you an accurate monthly payment – interest charges mean you need to pay more than the basic mathematical division would suggest.
For example, eliminating $1,000 at 16% interest in 10 months requires $107.48 monthly, not $100. That extra $7.48 covers interest charges that would otherwise extend your debt indefinitely. This is why high-interest debt can feel impossible to eliminate with minimum payments alone.
A balance transfer answers this common question: "Can I use one credit card to pay off another?"
Here's the process:
Balance transfer cards share similar mechanics but differ in four critical areas:
Transfer Fee Structure: Fees typically run 3% to 5% of transferred amounts ($30 to $50 per $1,000). Lower fees are better, but even higher fees often pay for themselves through interest savings.
Length of 0% Period: Quality cards offer 15+ months at 0%, with some approaching two years. Longer periods provide more flexibility, even if you don't need the full term.
Card Issuer Restrictions: You cannot transfer debt between cards from the same issuer. Chase debt can't move to another Chase card, Bank of America debt can't move to another Bank of America card, and so forth.
Post-Promotional Value: Many balance transfer cards offer minimal rewards or benefits after the 0% period ends. However, several excellent rewards cards include 15–18 month balance transfer promotions, giving you ongoing value after debt elimination.
*Important note: Some cards offer 0% on purchases but not balance transfers. Verify that your target card includes transferred debt in its promotional rate.
Ready to calculate your potential savings? Gather your current card statement, identify a target balance transfer card, and use our calculator to see real numbers.
Remember: every month you carry high-interest debt costs money. A balance transfer isn't just about saving interest – it's about redirecting those payments toward actual debt reduction and accelerating your path to financial freedom.
Calculate your savings now, and take the first step toward eliminating credit card debt for good.
The BestMoney.com editorial team is composed of writers and experts covering a full range of financial services. Our mission is to simplify the process of selecting the right provider for every need, leveraging our extensive industry knowledge to deliver clear, reliable advice.