Is a balance transfer always worth the 3-5% fee?

On a $5,000 balance at 24% APR with a 15-month 0% promo: fee = $150-$250; interest saved ≈ $1,500. Usually very worthwhile. Not worthwhile if you cannot pay off the balance before the promo expires.

What happens after the promo period?

The remaining balance reverts to the purchase APR, often 20-27% for balance transfer cards. Set up automatic payments and a payoff plan to eliminate the balance before the promo ends.

Does a balance transfer hurt your credit score?

Opening a new card causes a small temporary dip. However, transferring balances and reducing utilization on the original card (if kept open) can improve your score over time.

Credit Card Balance Transfer Savings Calculator

Calculate net savings from transferring a credit card balance to a 0% intro APR card after accounting for the 3-5% balance transfer fee and the promotional period length.

Use the full interactive calculator below, or

Related Calculators

Credit Card Payoff

Finance & Accounting

Personal Loan APR vs EIR

Finance & Accounting

Debt Avalanche

Finance & Accounting

Credit Card Balance Transfer Savings Calculator

Related Calculators

Frequently Asked Questions

Is a balance transfer always worth the 3-5% fee?

What happens after the promo period?

Does a balance transfer hurt your credit score?