Balance Transfer Savings Calculator

Interest saved: This is what your current card would charge in interest over the intro period at your current APR, assuming no payments. It is the ceiling of your potential saving.

Transfer fee cost: The one-time fee charged when the transfer is processed. This reduces your net saving. On a $10,000 transfer at 3%, you pay $300 upfront (it is added to your balance, not billed separately).

Net saving: Interest saved minus the transfer fee. This is your actual financial benefit from doing the transfer. It is almost always substantially positive.

Break-even fee: The maximum transfer fee you could pay and still come out ahead. If the break-even is 8%, then even a 5% fee card is worth it. This helps you evaluate credit union offers with unusual fee structures.

The runway bar: Green means you will pay off the balance before the intro period ends. Red means you will not at your current payment level. Increase your monthly payment or choose a card with a longer intro period. See what happens after the intro period for your options.

CARD Act Payment Allocation: If You Plan to Use the Card for Purchases

Federal law (CARD Act 2009) requires that payments above the minimum go to the highest-APR balance first. Your minimum payment, however, goes to the lowest-APR balance - which is your 0% transfer. This means any new purchases at a higher APR sit largely unpaid until your minimum goes toward the 0% transfer balance.

Recommendation: Do not use your balance transfer card for new purchases. Use a separate card for daily spending. Keep the BT card exclusively for paying off the transferred balance. This is the single biggest mistake that undermines an otherwise good balance transfer strategy.