When is a balance transfer NOT worth it?

When the balance is small or you'd pay it off within a few months anyway (the 3-5% fee can exceed the interest saved), when you can't get approved for a limit that covers the balance, or when you'd keep spending on the old card and end up with two balances. The transfer is a tool for payoff, not extra room.

What happens when the 0% promo ends?

Any remaining balance starts accruing at the card's regular APR — often 18-29%. In this example, $2,755 remains when the 15-month promo ends and costs about $445 at 19.99% before payoff. Size your monthly payment so the balance is gone (or nearly gone) by promo end: balance ÷ promo months is the target payment.

Do balance transfers hurt my credit score?

Short-term, slightly: a hard inquiry and a new account lower average account age. Medium-term they often help, because the new card's limit lowers overall utilization — and the debt actually shrinking helps most of all. Don't close the old card; keep its limit reporting with a zero balance.

Can I transfer between cards from the same bank?

Generally no — issuers exclude their own cards from transfer promotions. If your debt is on a Chase card, you'll need an intro offer from a different issuer. Also note transfers usually must be completed within the first 60-120 days to qualify for the promo rate.

Is 'deferred interest' the same as a real 0% intro APR?

No, and the difference is expensive: deferred-interest promotions (common on store cards) charge you all the interest retroactively from day one if any balance remains at promo end. A true 0% intro APR only charges interest on what's left, going forward. Read which one you're signing up for.

Tools · Money Basics

Money Basics · credit cards

Balance transfer calculator

0% APR offers look great until you do the math. Plug in balance, fee, promo length, and post-promo rate — we tell you if the transfer actually pays off.

Current debt

Balance$8,500

Current APR24.60%

Monthly payment$400/mo

Transfer offer

Transfer fee3.00%

Promo length15 mo at 0%

Post-promo APR19.99%

Savings vs. doing nothing

+$2,400

Pay off in 23 mo vs. 29 mo on current card

Worth transferring. Even after the 3.00% fee, you net $2,400 in saved interest. Keep the payment high; missing the promo window undoes most of the savings.

Stay put — total interest

$3,100

Transfer — total cost

$700

Fee $255 + post-promo interest

Months to debt-free (current)

29 mo

Months to debt-free (transfer)

23 mo

Quick answer

Is a 3% fee worth it to escape a 24.6% APR?

Carrying $8,500 at 24.6% APR while paying $400 a month costs about $2,776 in interest over 29 months. Transfer it to a card with a 15-month 0% intro period and a 3% fee ($255), keep paying $400, and the total cost falls to about $700 ($255 fee + $445 of post-promo interest) with payoff in 23 months — saving roughly $2,076. The fee almost always beats a 20%+ APR.

$2,776 interest

Stay put

~$700 total

Transfer cost

~$2,076

Savings

23 vs 29 months

Payoff

Frequently asked questions

How we built this tool

How the transfer math works

Step 1

The fee rolls into the new balance

A 3% fee on $10K is $300 — added to the balance you're transferring. We track the full cost, not just the headline rate.

Step 2

Promo-window payoff is the goal

Divide balance by months in promo to see the monthly needed to clear it at 0%. If you can hit that, the transfer is pure savings.

Step 3

Post-promo APR matters

Carrying past the promo window puts you back at 20%+ APR — sometimes worse than where you started. We include that scenario in total cost.

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