Calculator Inputs
Use the form to compare interest, fees, payoff timing, and breakeven behavior.
Example Data Table
This worked example uses the default values shown in the calculator form.
| Example Item | Value |
|---|---|
| Current Balance | $8,500.00 |
| Current APR | 24.99% |
| Current Monthly Payment | $260.00 |
| Promo APR / Months | 0.00% for 15 months |
| Post Promo APR | 18.99% |
| Transfer Fees | $255.00 |
| Transfer Monthly Payment | $350.00 |
| Estimated Total Savings | $5,310.14 |
| Breakeven Month | 2 |
| Months Saved | 30 |
Formula Used
The calculator converts each APR into a monthly rate by dividing the annual percentage rate by 12 and by 100. Monthly interest equals beginning balance multiplied by the monthly rate.
Principal paid each month equals monthly payment minus monthly interest. Ending balance equals beginning balance minus principal paid. This repeats until the balance reaches zero or the selected comparison limit is reached.
Transfer fee cost equals transferred balance multiplied by the percentage fee, plus any flat fee. Total transfer cost equals all transfer interest plus total transfer fees. Estimated savings equals current path cost minus transfer path cost.
Breakeven month is the first month when cumulative current cost becomes greater than or equal to cumulative transfer cost.
How to Use This Calculator
- Enter your existing card balance, APR, and current monthly payment.
- Add the transfer offer details, including promo APR, promo months, and post promo APR.
- Enter transfer fees and choose whether fees are added to the balance or paid separately.
- Set your planned transfer payment and any extra monthly payment.
- Click Calculate Savings to view the result summary above the form.
- Review the graph and comparison table to see balances and interest month by month.
- Export the comparison schedule using the CSV or PDF buttons if needed.
Frequently Asked Questions
1. What does this calculator measure?
It compares the projected cost of staying on your current card versus moving the balance to a transfer offer. It estimates interest, fees, payoff timing, breakeven month, and total savings.
2. Why can a transfer save money?
A lower promotional APR can reduce interest during the intro period. If you keep payments strong, more of each payment reduces principal, which can lower total borrowing cost.
3. Do transfer fees always make the offer worse?
Not always. A fee increases upfront cost, but the transfer can still win if interest savings during the promo period and afterward are large enough to offset that fee.
4. What is the breakeven month?
It is the first month when cumulative cost under the transfer strategy becomes less than or equal to the cumulative cost of keeping the current card balance.
5. Why does payment size matter so much?
Higher payments reduce balance faster, cut future interest, and may help you finish repayment before the promotional APR expires. That can sharply improve total savings.
6. What happens if my payment is too low?
If a payment does not cover monthly interest, the balance can grow instead of shrink. The calculator flags that condition so you can increase payments and recalculate.
7. Should I add fees to the balance?
Adding fees to the balance preserves cash today, but it can increase future interest because the starting transferred balance becomes larger. Paying fees separately can reduce total interest.
8. Are these results guaranteed?
No. They are planning estimates based on the numbers entered. Real card terms, compounding methods, payment timing, and new purchases can change actual savings.
This calculator provides educational estimates only and does not replace lender disclosures, card agreement terms, or professional financial advice.