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Balance Transfer Calculator
See whether moving high-interest credit card debt to a promotional low or 0% APR card actually saves you money, once the transfer fee and post-promo interest are factored in.
Current Card
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APR (Annual Percentage Rate) is the yearly cost of borrowing, including interest, shown as a percentage.
New Card
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months
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Most cards require a minimum monthly payment, often 2-3% of the balance, even during a promo period.
Canadian credit cards typically compound interest daily and carry regular APRs of 19.99%–24.99%.
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How It Works
- Enter both cards' details — Your current balance and APR, plus the new card's promo APR, promo length, transfer fee, and regular APR after the promo ends.
- Pick a payoff strategy — Either a fixed amount you'll pay every month, or a target number of months to be debt-free.
- Compare the outcomes — Both scenarios are simulated month by month with daily-compounded interest, so you can see the real cost of staying put versus transferring, fee included.
Frequently asked questions
Trying to temporarily offset a HELOC, line of credit, or margin loan instead of paying off debt? Try our Balance Transfer Bridge Calculator.