Balance Transfer Calculator

A balance transfer moves your existing credit card debt to a new card — often at 0% or a very low interest rate for a promotional period (typically 6–24 months). This gives you time to pay down the balance without accumulating interest at the usual 20%+ rate.

Most balance transfer offers charge a fee of 1%–3% of the amount you're transferring. For example, a 2% fee on an $8,000 balance costs $160. This fee is added to your new card balance and should be factored into your savings calculation.

Once the promo period ends, any remaining balance reverts to the card's standard purchase rate — typically 19%–22% p.a. This is the revert rate. If you haven't paid off the balance by then, you'll start accruing interest at the full rate.

Not always. The transfer fee can outweigh the interest savings if the promo period is short or the balance is small. This calculator shows you the net saving (or cost) of transferring so you can decide with real numbers.

Be careful — new purchases on a balance transfer card often attract the full purchase rate from day one, not the promo rate. It's best to avoid using a BT card for new spending and focus on paying down the transferred balance during the promo period.