Can I use this calculator if I don't know my exact current APR?

You can enter an estimated rate, but the savings figure will be less precise. Check your most recent statement for the most accurate number.

Does the calculator include balance transfer fees?

No, the tool focuses on interest savings only. Most balance transfers charge a fee, typically 3% to 5% of the transferred amount, which should be factored in separately.

What if I plan to make new purchases on the balance transfer card?

The calculator assumes the transferred balance is the only amount accruing interest. New purchases may be subject to a different APR and could increase the total cost.

How accurate are the yearly savings projections?

Projections are based on the inputs provided and assume consistent monthly payments. Actual results will vary depending on payment timing, rate changes, and any fees charged by the new issuer.

Personal FinanceFree Tool

Balance Transfer Savings Calculator

Provided byNerdWallet Financial Calculatorsnerdwallet.com

Calculates savings from transferring credit card balances to a 0% APR card.

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Screenshot of Balance Transfer Savings Calculator on NerdWallet Financial Calculators — nerdwallet.comOpen the live tool →

About this tool

What Balance Transfer Savings Calculator does

A balance transfer savings calculator estimates the interest you would pay on existing credit card debt if moved to a card offering a 0% introductory APR. By entering your current balance, the annual percentage rate of your present card, and your projected payoff timeline, the tool computes how much you could save annually and over multiple years. It translates the abstract concept of APR into concrete dollar amounts, helping you see whether shifting debt to a promotional rate makes financial sense before you apply.

Step by step

How to use the NerdWallet Financial Calculators Balance Transfer Savings Calculator

1
Input your current credit card balance
2
Enter the annual percentage rate of your existing card
3
Specify how many months or years you plan to take to pay off the transferred amount
4
View the estimated annual and total savings compared to keeping the balance on your current card

Is it right for you

Best for

People carrying credit card debt who are considering a balance transfer and want a quick, numbers-based reality check before contacting issuers.

Limitations

Results depend on accurate input of current APR and payoff timeline
Does not guarantee approval for a 0% APR card or account for balance transfer fees
Savings estimates assume no new charges are made to the transferred balance

Questions

Balance Transfer Savings Calculator FAQ

Can I use this calculator if I don't know my exact current APR?: You can enter an estimated rate, but the savings figure will be less precise. Check your most recent statement for the most accurate number.
Does the calculator include balance transfer fees?: No, the tool focuses on interest savings only. Most balance transfers charge a fee, typically 3% to 5% of the transferred amount, which should be factored in separately.
What if I plan to make new purchases on the balance transfer card?: The calculator assumes the transferred balance is the only amount accruing interest. New purchases may be subject to a different APR and could increase the total cost.
How accurate are the yearly savings projections?: Projections are based on the inputs provided and assume consistent monthly payments. Actual results will vary depending on payment timing, rate changes, and any fees charged by the new issuer.

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