What is a balance transfer?
Moving debt from a high-APR card to a new card with a 0% (or low) promo APR for a fixed window, typically 12, 15, or 21 months.
Balance transfer payoff calculator
$
%
$
%
%
mo
%
$
Transfer fee
$225
3% of $7500
Payment to clear promo
$515
$7,725 ÷ 15 months
Estimated savings
$1,699
Versus staying on current card.
Remaining after promo
$1,725
Would carry into 22% APR
At $400/mo you won't fully pay off the transferred balance before the promo ends. You'd need at least $515/mo.
Calculations are estimates for educational purposes only and do not constitute financial advice. Actual payoff timelines, interest charges, and credit outcomes may vary.
How it works
What to actually look at before transferring a balance.
How balance transfer fees work
Most issuers charge 3% to 5% of the amount transferred, added to the new balance on day one. A $10,000 transfer at 3% adds $300 to what you owe before any payments.
Why promo APR deadlines matter
The promo only saves money if you finish before it ends. Miss the date, and the remainder starts compounding at the post-promo APR.
What happens after the promo ends
The post-promo APR is often higher than your original card. If you've only paid half the balance, the next half can wipe out the savings.
How Cardinate monitors promo windows
Every promo APR card gets a countdown, a required-payment number, and an alert as the deadline approaches.
FAQ
Frequently asked questions
It depends on the transfer fee, the promo length, and whether you can pay off the balance before the promo ends. The calculator above runs that math for your numbers.
Most cards charge 3% to 5% of the transferred amount. The fee is added to the new balance and accrues at the promo APR.
Whatever is left starts accruing interest at the post-promo APR, often 20% to 29%. With most cards, interest is not retroactive, but a few cards do charge deferred interest. Always check the offer terms.
Usually only as much as you can realistically pay off during the promo period. Transferring more than that just delays interest, it doesn't eliminate it.