Balance Transfer Calculator
Our balance transfer calculator shows exactly how much interest you save — or pay extra — by moving your credit card balance to a 0% promotional offer. It compares staying on your current card against making the transfer, accounting for the transfer fee, the 0% promotional period, and the revert rate.
Balance Transfer Savings Calculator
Compare staying on your current card vs doing a balance transfer — see exactly how much you could save.
How Balance Transfers Work
A balance transfer moves existing credit card debt to a new card offering a 0% promotional period — typically 12 to 28 months. A transfer fee of typically 2–3% is charged upfront. On a £4,000 balance at 22% APR paying £150 per month, the current card costs approximately £1,350 in interest. Transferring to an 18-month 0% card with a 2% fee (£80) with the same payments reduces the total cost to just £80 — a saving of over £1,270. Use our Credit Card Repayment Calculator to model the current card payoff separately.
When a Balance Transfer Does Not Save Money
If the new card APR after the 0% period is higher than your current card and you cannot clear the balance before the promotional rate ends, the transfer can cost more overall. This calculator models both scenarios transparently.
Frequently Asked Questions
Most balance transfer offers exclude transfers from cards in the same banking group. Check the eligibility rules before applying.
The transfer fee is typically added to the balance transferred. Ensure your credit limit on the new card is sufficient to accommodate the fee.
Set a calendar reminder 2–3 months before expiry to either clear the remaining balance or arrange another balance transfer.
Yes — the best 0% deals require good to excellent credit scores. Poor credit may limit you to shorter promotional periods or result in a declined application.
Not immediately — closing a card reduces your total available credit and may increase utilisation, potentially lowering your credit score.
Enter your credit card balance and current APR, then the 0% balance transfer offer details: the interest-free period in months, the transfer fee percentage, and the APR that applies once the 0% period ends. The calculator shows total cost under both scenarios: staying on the existing card versus transferring. Divide the transferred balance (plus fee) by the 0% period to find the monthly payment needed to clear the balance before the standard rate kicks in — the calculator highlights whether your intended payment achieves this. Only apply for a balance transfer after a soft eligibility check — multiple hard searches in a short period can reduce your credit score and make future applications harder.
Important Information
This calculator is provided for general information and planning purposes only. It does not constitute financial or tax advice and should not be relied upon as such. Figures are indicative estimates based on simplified, publicly available criteria and stated assumptions. Actual results depend on your full circumstances. See our Disclaimer for further information.