Balance Transfer Optimizer

Evaluate if a balance transfer with a promotional rate is worth it for your situation.

  • Methods explained
  • Save scenarios
  • Compare saved scenarios

Current Card

$
%
$

Balance Transfer Offer

%
%
18 months
%

Transfer Analysis

Keep Current Card

Payoff Time31
Total Cost$10,626

Balance Transfer

Transfer Fee$240
Promo Period Interest$0
Regular Period Interest$88
Payoff Time24
Total Cost$8,328
Recommendation0
Savings$2,298
How it works›

Model and assumptions. Adds the entered transfer fee and compares repayment during the promotional period and after the regular rate begins. Savings depend on payment size and timing; approval, credit limits, new purchases and unentered fees are not modeled.CFPB: money and debt worksheetsOpenStax: annuity formulas