How do I plan a balance transfer?

A balance transfer moves what you owe on one card to another card that charges a low promo rate for a while. In exchange you pay a transfer fee. The calculator tells you whether that trade saves you money.

Run the calculator

1. 1

   Enter what you owe

   Under Your balance, fill in the Balance and the Interest rate from your statement. Use Add another balance for each card or line of credit you would move.

2. 2

   Say which bank it is with

   Answer Which bank is it with? Banks don't move a balance between their own cards, so we leave that bank's cards out.

3. 3

   Choose how long to compare

   Under Compare over, pick 6, 12, 18 or 24 months, or any length from 3 to 36 months in the list.

4. 4

   Tell us about you

   Your credit score and income only affect the approval odds shown on each card. Cards you are likely to get rank higher.

How the savings are counted

• Today: the interest you would pay on your own card over the months you chose.
• On each offer: the transfer fee, plus the interest at the promo rate for the promo months and at the card's regular balance transfer rate after that, plus any annual fee.
• Savings: the interest today minus the cost of the offer. If the offer costs more, the card shows that instead.

The calculator makes some assumptions. You pay only $10 a month on each balance. You make no new purchases. Nothing is owing on the card you move to. Each balance is worked out on its own, then added up. Interest each month is the balance times the annual rate divided by 12. If the transfer fee comes to less than $3.50, or the card's own minimum fee, the minimum applies. These are estimates, and your actual cost depends on how you really pay.