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Balance Transfer Calculator

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If you carry debt on more than one credit card, you may be paying more interest than you should and you may not even realize it.

Balance Transfer Payment Calculator

One way to get better handle on your credit card debt is to put it all in one place, by signing up for a balance transfer credit card. These cards are a way to better manage your finances and save money.

Did you know: The Amex EveryDay® Credit Card from American Express, a CreditDonkey partner, has a $0 balance transfer fee. The card offers a 0% intro APR for 15 months on purchases and balance transfers, then a variable rate, currently 14.49% - 25.49% Variable. Balance transfers must be requested within 60 days from account opening.

More: Balance Transfer Credit Card Offers

Low Intro APR with $0 Balance Transfer Fee

Low Interest Rate

Here’s the catch: You have to run some numbers before picking the balance transfer credit card that’s right for you. Crunching the calculations can be a bit tricky, so use the balance transfer credit card calculator below to help you choose the right card.

Should I Transfer My Credit Card Balance?

Simply gather the following information and plug it into the below calculator:

  • Balance and interest rate for each individual card that you would like to consolidate
  • Interest rate and fee information for the balance transfer credit card that you’re considering
  • Your anticipated monthly payment

Estimate Your Balance Transfer Savings

Enter information about your existing credit card(s)
CardBalanceAPR (Interest Rate)
#1$ %
#2$ %
#3$ %

Enter information about the card you're transferring to
Enter the intro APR on Balance Transfers (Interest Rate): %
Enter the length of the intro period: months
Enter the regular APR (Interest Rate): %
Enter the annual fee:$
Enter the balance transfer fee (% of balance): %
Enter monthly payment:$

Balance Transfer Calculator Savings

Here are some important factors that you will want to consider when reviewing balance transfer credit cards:

  • Balance transfer credit cards often have several interest rates that you will want to review; most cards will have a promotional introductory balance transfer rate (APR). After the designated introductory period, the rate will increase to the “regular” rate. Keep this regular rate in mind when choosing a card.

  • Balance transfer fees vary from card to card, so take the time to compare balance transfer fees before choosing your balance transfer credit card. You may even be able to find a card that does not charge a fee for balance transfers.

  • It’s quite possible that you will find credit cards with varying benefits – one card may have a promotional 0% balance transfer offer, one may have an on-going low interest rate and a third may have the lowest balance transfer fee. The best way to know which balance transfer credit card offers the greatest financial benefit to your wallet is use the balance transfer calculator for each card. This may take a couple of minutes longer but you’ll know for sure which card provides the best savings.

  • Take some time to plug in several different monthly payment scenarios. You’ll be surprised to see the additional savings you can realize if you’re able to contribute just $50 more toward your credit card balance each month.

As you can see from your credit card balance transfer calculations, quite a bit of savings is waiting for you by simply consolidating your credit card balances. Follow through with the best scenario, and you’ll be out of debt in no time.

Chase Freedom Unlimited lets you earn a $150 bonus after you spend $500 on purchases in your first 3 months from account opening. You earn unlimited 1.5% cash back on every purchase. There is also a 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.24-24.99%. The balance transfer fee is 5% of the amount transferred, $5 minimum. The cash back rewards will not expire as long as your card account remains open. There is no annual fee.

To estimate how long it'll take to pay off your existing credit card debt, visit our credit card payoff calculator.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. This site may be compensated through the Advertiser's affiliate programs.

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About CreditDonkey®
CreditDonkey is a credit card comparison website. We publish data-driven analysis to help you save money & make savvy financial decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.