Money saved in interest payments over one year.
Most 0% APR balance transfer cards charge an upfront fee—usually 3% to 5% of the total amount you transfer. If you move $10,000, you are instantly charged $300 to $500. This calculator assumes you will pay that fee, but the interest savings over 12 months usually outweigh that one-time cost.
The 0% rate is temporary (usually 12–18 months). If you haven't paid off the full balance by the time the promo period ends, the interest rate will skyrocket to the standard rate (often 20%–29%). Use a balance transfer only if you have a disciplined plan to pay off the debt within the promo window.