See fee vs interest and the monthly payment that clears the balance in the promo.
Compare your current credit-card payoff vs a balance-transfer offer. See the fee, the interest saved, the required monthly payment to finish in the promo window, and the post-promo risk.
Direct answers to the most common questions, in plain language. Skim if you're in a hurry; dig deeper below.
Moving credit-card debt to a new card with a 0% promo APR.
Transfer high-interest balances to a new card offering a 0% promotional APR (typically 12–21 months). Pay a one-time transfer fee (usually 3–5%), then pay aggressively during the promo to crush the principal interest-free.
Yes if you'll pay off during the promo and the fee beats current interest.
On a $5,000 balance at 22% APR transferring to a 21-month 0% card with a 3% fee: $150 fee vs ~$1,200 in interest if paid off in 21 months. Clear win if discipline holds.
3–5% of the transferred amount, one-time.
Most cards charge 3% of the transferred balance ($150 on $5,000). Some charge 5%. A handful (becoming rare) charge 0% during signup promotions. The fee is added to the new card balance.
Small short-term dip; net positive long-term.
Opening a new card triggers a hard inquiry (5–10 point dip). Paying off the old card's balance drops utilization, which boosts score. Net is usually positive within 60–90 days.
The mechanics in short answers — no jargon, no upsell.
The new card pays off your old card. The old card is now at $0 (keep it open). The new card has your balance + the transfer fee.
For the promotional period (12–21 months), the new balance accrues 0% interest. Every payment goes 100% to principal.
Divide the new balance by the promo months. That's your monthly target. Pay that or more — the math only works if you finish.
When the promo ends, the rate jumps to the regular APR (often 22–28%). Any remaining balance starts accruing interest immediately.
Designed so anyone can model their situation in under a minute, with or without a finance background.
Transfer fee vs interest you'd pay without transferring.
The exact monthly amount to clear the balance during the promo.
See what happens if you don't finish during the 0% window.
Lifetime interest avoided by transferring.
Vary promo length, APR, and fee to find the best card.
Concrete monthly target so you finish in the promo window.
Everything you might ask before, during, or after using this tool.
Usually no — most banks (Chase, Citi, Amex) won't allow transfers between their own cards. You need to transfer from a different issuer. Plan ahead by knowing which bank issues each of your cards.
The best balance-transfer offers (0% for 18–21 months) typically require 700+. With 640–700, you can still find offers but with shorter promos or higher fees. Below 640, your options shrink dramatically.
No — most issuers cap the transfer at your new card's credit limit, and you can't transfer more than your existing debt. Some allow a small over-transfer for fees, but planning to receive cash via a balance transfer rarely works.
The remaining balance starts accruing interest at the card's regular APR (typically 22–28%). A few cards have "deferred interest" promos where if you don't pay off during the promo, interest is charged retroactively from day 1 — much worse. Read the fine print.
No — keeping it open at $0 balance helps your credit utilization and your average account age. Only close if there's a meaningful annual fee.
Yes — you can transfer from multiple cards onto one new card (up to the credit limit). Each transfer fee applies separately. Some borrowers chain transfers to extend 0% windows, but each chain adds fees and inquiries.
Rare, but they exist — usually shorter promos (12 months) or require excellent credit (760+). Net-net, a 0% APR for 21 months with a 3% fee usually beats a 0% APR for 12 months with no fee — do the math on your specific situation.
Yes — a new tradeline and a hard inquiry both register on your credit report. If you're applying for a mortgage in the next 6 months, hold off on balance transfers. The mortgage rate impact can outweigh the credit-card interest savings.
Other Lazysmirk tools that pair well with this one.
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See how long minimums take to pay off, and how much faster + cheaper a fixed payment finishes the debt.
See aggregate and per-card credit utilization, find the worst-offending card, and the exact paydown needed to hit 30% or 10%.
See how fast you can become debt-free with the snowball method — pay off your smallest debt first, then roll the payments forward. Compare snowball vs avalanche side by side.
You're carrying high-interest credit-card debt (typically 18%+).
You have credit-card debt that you can realistically pay off during the promo (12–21 months).
You have 700+ credit to get the best offers.
You won't use the freed-up old card to rack up new debt.
If all four are true, balance transfer is one of the best financial moves in the consumer arsenal.
Without transfer: $5,000 at 22% over 24 months = ~$1,200 interest.
With 3% transfer: $150 fee + $0 interest (if paid in 21 months).
Net savings: ~$1,050. The transfer fee buys you 0% interest. Almost always a winning trade if discipline holds.
You move the balance, your old card has a $0 balance, and your psychology says "I have a fresh start" — and you start charging again.
Six months later, both cards have balances and you're worse off than before.
Counter: lock the old card in a drawer. Don't carry it. Don't use the new card for new purchases. Just pay it down.
If you reach end of promo with balance remaining, some borrowers transfer again to a new card.
Each chain costs another 3% fee plus a credit inquiry. Two or three chains and the fees eat the savings.
Chain transfers signal that the original payoff plan failed. Better to attack the debt with a personal loan or higher monthly than to keep transferring.
Two short notes worth reading before you trust any number on this page.
Your loan amount, rate, and prepayment inputs never leave your device. No accounts, no cookies on your numbers, no analytics on the values you type. Disconnect from the internet and it still works.
We are not a bank, NBFC, advisor, broker, or distributor of any financial product. The numbers shown here are estimates for educational purposes only, based on the inputs you provide.
Results are not financial, legal, or tax advice. Please consult a qualified professional before any decision about your loan, investments, or personal finances. Actual loan terms and charges depend on your bank and individual circumstances.
