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Balance transfer calculator

Updated: 3rd June 2021.

The appeal of a balance transfer credit card is clear: If you have a high-interest credit card balance, one of these cards can potentially save you hundreds, if not thousands, in interest.

Your current credit card
Enter the amount you typically pay off each month
The balance transfer card
Most cards typically charge between 1% to 3%, although some waive this fee

Using our balance transfer calculator

The balance transfer calculator above can help. After entering your current balance, the interest rate you pay and your monthly payment, you can enter the details of the balance transfer offer you’re considering. The calculator will then estimate how much you can save through this offer.

What now?

Choosing the right balance transfer credit card for you can take a little finesse. If you don’t have much debt, the longest balance transfer offers may not be right for you. And choosing a balance transfer credit card with no fee may not be best if you do have a lot of debt, and could benefit from an extra long period to pay down your debt.

If you’ve found an offer that can help you save on interest payments, great! But if you’re still looking, you can check out our list of the best balance transfer credit cards or the best no fee 0% balance transfer credit cards.

Are you sure balance transfer is right for you?

Balance transfer cards can be great if you have existing credit card debt. But they don’t help much if you have little or no debt. They’re not the only type of 0% card though. A 0% purchase credit card also gives you a period of 0% interest, but that’s applied to new spend rather than existing debt.

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