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UK Balance Transfer Calculator

Your balance transfer

See whether moving a credit card balance to a 0% deal is worth the fee, what’s left when the 0% ends, and when it’s all paid off.

Your card now
£
On your latest statement.
%

What the balance is charged now. Your statement shows the APR and the yearly rate (p.a.): pick which one you’ve entered.

The 0% deal
%
Of the amount moved, added to the new card.
months
How long the deal lasts.
%

The new card’s standard rate, charged on whatever’s left, as shown in its terms.

What you’ll pay
£
The same each month, whichever card the balance is on. To clear it within the 0%, pay £257.50 a month.

Results update as you type

Your results

You’d save
£573
Moving it, fee included, against staying put
Paid off in
1 year 10 months
4 months sooner than staying put
Transfer fee
£90.00
3% of £3,000
Left when the 0% endsSee the interest on what’s left once the 0% ends. Open in Credit Card Interest Calculator.
£1,290
After 12 months at £150
To clear it within the 0%
£257.50
A month, fee included
Interest after the 0%
£130
At 24.9% APR

Assumes nothing new goes on either card and the rates stay the same. Make every payment on time: a missed one can end a 0% deal early.

Staying put or moving it

Pays less
Staying putSee every month of paying it off where it is, and what paying only the minimum costs. Open in Credit Card Payoff Calculator.
2 years 2 months
£793 interest
Pays less
Moving it to 0%
1 year 10 months
£220 fee and interest

Moving it costs £90 in fee and £130 in interest once the 0% ends: £220 in all, against £793 of interest staying put. You’d save £573 and clear it 4 months sooner.

What you owe over time, staying put and moving it to 0%Line chart of the balance owed over time, paying £150 a month. Moving it to 0%, it’s clear in 1 year 10 months. Staying put, it takes 2 years 2 months.£0£800£1,600£2,400£3,200NowYr 1Yr 2Yr 3
Moving it to 0%Staying put

Longer or shorter 0% deals

At 0% forPaid off inFee and interestSaved
6 months2 years£482£311
12 months (yours)1 year 10 months£220£573
18 months1 year 9 months£104£689
24 months1 year 9 months£90£703
30 months1 year 9 months£90£703
36 months1 year 9 months£90£703

With the same 3% fee and £150 a month. Longer deals often charge a higher fee, so put each deal’s own fee in above to compare them properly.

Using this calculator

Enter the balance you’d move and its interest rate now, then the deal: its fee, how many months it’s at 0% and the rate after that. The results compare paying the same amount each month where the balance is now and on the new card.

  • The fee is usually a percentage of the amount moved, and it’s added to the new card’s balance.
  • The rate when the 0% ends is the new card’s standard rate. It’s in the deal’s summary box, and can be higher than the card you’re leaving.
  • Paying enough to clear the balance before the 0% ends means you pay no interest at all, just the fee.
  • The figures assume nothing new goes on either card, and that the rates stay the same.

For how balance transfers work, what they cost and the catches to watch for, read is a balance transfer worth it?

Related calculators: the interest on your card now, how long your card takes to clear, your card provider’s minimum payment, a balance transfer against a personal loan, what saving the same amount could grow to and your take-home pay.

How the figures are worked out

Both balances are worked out month by month, with the same payment each month. Staying put, interest is charged each month at the monthly rate that adds up to your card’s APR over a year (1.87% a month at 24.9% APR), then the payment comes off. Moving it, the fee is added to the balance first. No interest is charged during the 0% months, so the whole payment comes off; after that, interest is charged at the monthly rate behind the new card’s APR. What moving it saves is the interest staying put, less the fee and any interest after the 0% ends. Card providers charge interest daily, so real statements differ by a few pence. Minimum payments, other fees and new spending aren’t included. If you enter a yearly rate (p.a.) instead of an APR, interest each month is that rate divided by 12, which is the same as using the APR behind it (22.44% p.a. is 24.9% APR).

Frequently asked questions

Is a balance transfer worth it?

Usually, if the interest you save is more than the fee and you clear most of the balance before the 0% ends. Moving £3,000 from a card at 24.9% APR to 12 months at 0% with a 3% fee, then 24.9%, and paying £150 a month, saves £573 and clears it 4 months sooner. Enter your own figures above to see yours.

How much is a balance transfer fee?

Usually a few percent of the amount you move, added to the new card’s balance. One major bank’s card charges 3.09%, with a minimum of £5. Some deals have a lower fee or none, often with a shorter 0% period, so compare what each deal costs in fee against the interest it saves.

How long do 0% balance transfer deals last?

Anything from a few months to around three years. Longer deals often charge a higher fee. What matters most is whether you can clear the balance before the 0% ends: divide the balance, plus the fee, by the months at 0% to see the monthly payment that does it.

What happens when the 0% ends?

Whatever’s left is charged at the card’s standard rate, which can be as high as the card you moved from, or higher. The calculator shows what’s left when the 0% ends and the interest after that. If you can’t clear it in time, another transfer may be possible, but there will usually be another fee.

Can I lose the 0% rate early?

Yes. Missing a payment, or paying less than the minimum, can end the deal early, so set up a direct debit for at least the minimum. Check the card’s terms for anything else that ends it, and for the date the 0% runs to.

Should I use a balance transfer card for spending?

Best not. New spending is usually charged at the purchase rate, and your payments go to the part of the balance with the highest rate first, so the spending is paid off before the 0% balance. Keeping the card just for the transfer keeps the sums simple.

Can I move a balance between cards from the same bank?

Usually not. Providers don’t take balances from cards in their own banking group, and the transfer normally has to be made within a set time of opening the card, such as 60 days, to get the 0% rate. How much you can move depends on the new card’s credit limit.

Where can I get free help with debt?

Free, confidential debt advice is available from MoneyHelper, StepChange, National Debtline and Citizens Advice. They can help you work out a budget, talk to the people you owe and find a way to repay. Avoid companies that charge for debt help: the free services give the same advice.