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Balance Transfer Savings Calculator |
Did you know you a 0% balance transfer can save you $100 or more for every $1,000 in credit card debt you carry on a high interest credit card? Our balance transfer calculator is designed to help you eliminate this expense and maximize the savings you can reap with a 0% credit card. To get an estimate on how much you can save with a 0% balance transfer, simply input your information into the balance transfer calculator below.
Editor’s Note: Because repayment rates may vary, your total savings may be more or less than our results indicate. However, this balance transfer calculator is a great way to get a sense of just how much money a 0% APR can save you. Once you see your interest savings, we hope you take the next step and get a new 0% credit card so you can eliminate credit card interest and start paying down credit card debt before it spirals out of control.
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Balance Transfer Credit Card Recommendations |
View all 0% APR Balance Transfer Offers
About the Balance Transfer Savings Calculator: The balance transfer calculator was designed to help consumers get a better idea of just how much savings a 0% APR balance transfer credit card can provide. Our formula for calculating interest is based on the standard credit card practice of calculating interest on a daily basis. While very accurate, the balance transfer calculator may not provide an exact assessement of potential savings if the credit card you currently have does not calculate interest on a daily basis. However, the vast majority of credit cards do so.
Calculating Balance Transfer Fees: Unfortunately, every major national credit card issuer is currently charging balance transfer fees. In early 2008, it was possible to get a no fee balance transfer or find a credit card that capped balance transfer fees at 3% with a maximum of $75 dollars. Today, standard balance transfer fees run at a flat 3% rate of balances transferred and some companies now charge as much as 5%. While a 3% fee eliminates $30 in savings for every $1,000 transferred, a person with a 12% interest rate will still save about $90 for every $1,000 transferred when fees are taken into consideration.
*Important Disclaimer: See credit card applications for complete terms and conditions. While Smart Balance Transfers makes reasonable efforts to maintain accurate information, all credit card information is presented without warranty. When you click an “Apply” button, you can review the credit card terms and conditions on the issuing company’s website.