{
  "id": "balance-transfer",
  "version": "14e5ec3a0be5",
  "status": "published",
  "name": "Balance Transfer Calculator",
  "question": "Does a balance transfer pay off?",
  "summary": "Compares paying off a credit card balance where it is with a balance transfer: the transfer fee, the interest at the intro and regular APR, the months to pay off, and the money saved at the same monthly payment.",
  "category": "finance",
  "subcategory": "loans",
  "url": "https://www.acalculator.org/finance/balance-transfer-calculator",
  "markdown": "https://www.acalculator.org/finance/balance-transfer-calculator.md",
  "kind": "schedule",
  "method": "Fee = max(balance × fee %, minimum fee). Each month: balance × (1 + APR ÷ 1200), then the payment. Saving = current card interest − new card interest − fee.",
  "assumptions": [
    "The same monthly payment on either card, and no new purchases.",
    "Interest is the APR ÷ 12 on the balance each month; card issuers that use a daily rate charge a little more.",
    "The fee is added to the new card’s balance on the day of the transfer."
  ],
  "inputs": {
    "$schema": "https://json-schema.org/draft/2020-12/schema",
    "type": "object",
    "properties": {
      "bal": {
        "title": "Balance to transfer",
        "description": "What you owe on the current card.",
        "type": "number",
        "x-unit": "USD",
        "exclusiveMinimum": 0,
        "maximum": 1000000000
      },
      "apr": {
        "title": "Current card APR",
        "description": "The yearly interest rate on the card you owe now.",
        "type": "number",
        "x-unit": "percent",
        "minimum": 0,
        "maximum": 100
      },
      "pay": {
        "title": "Monthly payment",
        "description": "What you pay each month, the same on either card.",
        "type": "number",
        "x-unit": "USD",
        "exclusiveMinimum": 0,
        "maximum": 1000000000
      },
      "fee": {
        "title": "Transfer fee",
        "description": "The fee as a percent of the balance transferred, often 3% to 5%.",
        "type": "number",
        "x-unit": "percent",
        "minimum": 0,
        "maximum": 100
      },
      "feemin": {
        "title": "Minimum fee",
        "description": "The fixed fee charged when it is more than the percent fee.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 1000000
      },
      "iapr": {
        "title": "Intro APR",
        "description": "The promotional APR on the transferred balance, often 0%.",
        "type": "number",
        "x-unit": "percent",
        "minimum": 0,
        "maximum": 100
      },
      "imo": {
        "title": "Intro months",
        "description": "How many months the intro APR lasts.",
        "type": "integer",
        "minimum": 0,
        "maximum": 60
      },
      "napr": {
        "title": "APR after the intro",
        "description": "The new card’s regular APR once the intro period ends.",
        "type": "number",
        "x-unit": "percent",
        "minimum": 0,
        "maximum": 100
      }
    }
  },
  "outputs": {
    "saved": {
      "label": "You save",
      "description": "Current card interest − (new card interest + transfer fee).",
      "format": "money"
    },
    "fee": {
      "label": "Transfer fee",
      "description": "The percent of the balance, or the minimum fee if that is more.",
      "format": "money"
    },
    "oldInterest": {
      "label": "Interest if you stay",
      "description": "All the interest paid on the current card until it is paid off.",
      "format": "money"
    },
    "cardInterest": {
      "label": "Interest after the transfer",
      "description": "All the interest paid on the new card.",
      "format": "money"
    },
    "oldMonths": {
      "label": "Months to pay off if you stay",
      "description": "Monthly payments until the current card is paid off.",
      "format": "integer"
    },
    "cardMonths": {
      "label": "Months to pay off after the transfer",
      "description": "Monthly payments until the new card is paid off.",
      "format": "integer"
    },
    "left": {
      "label": "Left when the intro ends",
      "description": "The new card’s balance after the intro months (0 when paid off before).",
      "format": "money"
    },
    "toClear": {
      "label": "Payment to clear it in the intro",
      "description": "The level monthly payment that pays off the balance and fee within the intro months.",
      "format": "money"
    },
    "verdict": {
      "label": "Verdict",
      "description": "Whether the transfer saves money.",
      "format": "text"
    },
    "summary": {
      "label": "Answer",
      "description": "The saving or the extra cost in one sentence.",
      "format": "text"
    }
  },
  "defaultAnswer": {
    "inputs": {
      "bal": 6000,
      "apr": 22,
      "pay": 300,
      "fee": 3,
      "feemin": 5,
      "iapr": 0,
      "imo": 18,
      "napr": 24
    },
    "outputs": {
      "saved": 1333.2447824760434,
      "fee": 180,
      "oldInterest": 1542.8670224760433,
      "cardInterest": 29.62224,
      "oldMonths": 26,
      "cardMonths": 21,
      "left": 780,
      "toClear": 343.3333333333333,
      "verdict": "The transfer saves money",
      "summary": "A balance transfer saves $1,333.24"
    },
    "text": "A balance transfer saves $1,333.24."
  },
  "examples": [
    {
      "given": {
        "bal": 6000,
        "apr": 22,
        "pay": 300,
        "fee": 3,
        "feemin": 5,
        "iapr": 0,
        "imo": 18,
        "napr": 24
      },
      "expect": {
        "fee": 180,
        "oldInterest": 1542.867022476043,
        "cardInterest": 29.62224,
        "oldMonths": 26,
        "cardMonths": 21,
        "left": 780,
        "saved": 1333.2447824760432,
        "toClear": 343.3333333333333
      },
      "source": "Consumer Financial Protection Bureau, Credit cards key terms (a balance transfer moves a balance from one card to another, sometimes for a fee; the fee is usually a percentage of the amount transferred or a fixed amount, whichever is more; promotional rates last a limited time), https://www.consumerfinance.gov/consumer-tools/credit-cards/answers/key-terms/ (retrieved 2026-10-02); hand calculation in content.mdx, checked month by month in Python 3: fee 6,000 × 3% = 180; 6,180 − 18 × 300 = 780 left after 18 months; 780 × 2% = 15.60 interest in month 19, and so on"
    },
    {
      "given": {
        "bal": 5000,
        "apr": 20,
        "pay": 250,
        "fee": 5,
        "iapr": 0,
        "imo": 12,
        "napr": 22
      },
      "expect": {
        "fee": 250,
        "oldMonths": 25,
        "cardMonths": 22,
        "saved": 651.449213750711,
        "left": 2250
      },
      "source": "Consumer Financial Protection Bureau, Credit cards key terms (a balance transfer moves a balance from one card to another, sometimes for a fee; the fee is usually a percentage of the amount transferred or a fixed amount, whichever is more; promotional rates last a limited time), https://www.consumerfinance.gov/consumer-tools/credit-cards/answers/key-terms/ (retrieved 2026-10-02); Consumer Financial Protection Bureau, How long can I keep a low rate on a balance transfer or other introductory rate? (the introductory rate lasts at least six months unless a payment is more than 60 days late; the issuer must say what rate applies after), https://www.consumerfinance.gov/ask-cfpb/how-long-can-i-keep-a-low-rate-on-a-balance-transfer-or-other-introductory-rate-en-15/ (retrieved 2026-10-02); hand calculation in content.mdx, checked month by month in Python 3: 5,250 − 12 × 250 = 2,250 left when the 12 intro months end"
    },
    {
      "given": {
        "bal": 1000,
        "apr": 18,
        "pay": 100,
        "fee": 3,
        "feemin": 5,
        "iapr": 0,
        "imo": 21,
        "napr": 25
      },
      "expect": {
        "fee": 30,
        "cardInterest": 0,
        "cardMonths": 11,
        "left": 0,
        "saved": 61.62268806367841
      },
      "source": "Consumer Financial Protection Bureau, Credit cards key terms (a balance transfer moves a balance from one card to another, sometimes for a fee; the fee is usually a percentage of the amount transferred or a fixed amount, whichever is more; promotional rates last a limited time), https://www.consumerfinance.gov/consumer-tools/credit-cards/answers/key-terms/ (retrieved 2026-10-02); hand calculation in content.mdx: 1,030 ÷ 100 = 10.3, so 11 payments, all inside the 0% months"
    }
  ],
  "sources": [
    "Consumer Financial Protection Bureau, Credit cards key terms (a balance transfer lets you move an outstanding balance from one credit card to another, sometimes for a fee; the fee is usually a certain percentage of the amount you transfer or a fixed amount, whichever is more; zero-percent or low-interest balance transfers last for a limited time, then the interest rate may rise; some issuers use a daily periodic rate). https://www.consumerfinance.gov/consumer-tools/credit-cards/answers/key-terms/ (retrieved 2026-10-02)",
    "Consumer Financial Protection Bureau, How long can I keep a low rate on a balance transfer or other introductory rate? (at least six months unless you are more than 60 days late on a payment; the issuer must tell you how long it lasts and what rate applies after). https://www.consumerfinance.gov/ask-cfpb/how-long-can-i-keep-a-low-rate-on-a-balance-transfer-or-other-introductory-rate-en-15/ (retrieved 2026-10-02)"
  ],
  "related": [
    "credit-card-payoff",
    "credit-card-interest",
    "debt-consolidation",
    "debt-payoff"
  ],
  "changelog": []
}