Most balance transfer offers are 0% APR
Fee amount: $240.00
Current Card (22.99% APR)
Payoff Time
3y 2m
Total Interest
$3,306.31
Total Cost
$11,306.31
Balance Transfer (0% intro / 19.99% regular)
Payoff Time
2y 6m
Total Interest + Fee
$727.20
Total Cost
$8,727.20
Total Savings
+$2,579.11
Interest Saved (Intro)
$1,977.85
Transfer Fee
$240.00
Time Difference
-8 months
You would need to pay $549.33/mo ($249.33 more) to pay off during the intro period.
Transferring your $8,000 balance to a 0% intro APR card would save you $2,579.11 total, even after the $240.00 transfer fee.
Note: You will have $3,740.00 remaining after the intro period at 19.99% APR. Try to pay more than $300.00/mo to pay off before the intro expires.
| Metric | Current Card | Balance Transfer | Difference |
|---|---|---|---|
| APR | 22.99% | 0% / 19.99% | 0% for 15mo |
| Upfront Cost | $0.00 | $240.00 | +$240.00 |
| Total Interest | $3,306.31 | $487.20 | +$2,819.11 |
| Total Cost | $11,306.31 | $8,727.20 | +$2,579.11 |
| Payoff Time | 3y 2m | 2y 6m | -8 months |
| Month | Current Bal. | Current Int. | Transfer Bal. | Transfer Int. | Period | Cumulative Savings |
|---|---|---|---|---|---|---|
| 1 | $7,853.27 | $153.27 | $7,940.00 | $0.00 | Intro | -$240.00 |
| 2 | $7,703.72 | $150.46 | $7,640.00 | $0.00 | Intro | -$240.00 |
| 3 | $7,551.31 | $147.59 | $7,340.00 | $0.00 | Intro | -$240.00 |
| 4 | $7,395.98 | $144.67 | $7,040.00 | $0.00 | Intro | -$240.00 |
| 5 | $7,237.68 | $141.69 | $6,740.00 | $0.00 | Intro | -$240.00 |
| 6 | $7,076.34 | $138.66 | $6,440.00 | $0.00 | Intro | -$240.00 |
| 7 | $6,911.91 | $135.57 | $6,140.00 | $0.00 | Intro | -$240.00 |
| 8 | $6,744.33 | $132.42 | $5,840.00 | $0.00 | Intro | -$240.00 |
| 9 | $6,573.54 | $129.21 | $5,540.00 | $0.00 | Intro | -$240.00 |
| 10 | $6,399.48 | $125.94 | $5,240.00 | $0.00 | Intro | -$240.00 |
| 11 | $6,222.08 | $122.60 | $4,940.00 | $0.00 | Intro | -$240.00 |
| 12 | $6,041.29 | $119.20 | $4,640.00 | $0.00 | Intro | -$240.00 |
Current Card Total Cost
Balance Transfer Total Cost