Balance Transfer Fee Calculator Guide: How to Check If It Saves You Money
Learn how transfer fees, promo APR periods, and break-even timing affect your likely savings.
This guide helps you decide if a transfer is likely to help. Start with your current APR, transfer fee, and promo period, then compare outcomes.
Understand the three core numbers
You need your current APR, the promo APR and length, and the transfer fee percentage.
Those values determine whether the fee is offset by reduced interest.
Use break-even months to judge fit
If break-even happens early in the promo period, the transfer may be worth considering.
If break-even is after the promo end date, savings may be limited or negative.
Plan repayment before the promo ends
Savings often depend on reducing the balance before standard APR applies.
Set a monthly target and monitor progress so the transfer supports your overall payoff plan.