A balance transfer trades your current card's interest for a one-time transfer fee and a limited 0% window. This calculator compares the real cost of staying put against transferring — including the fee and what happens if the balance isn't cleared before the intro period ends — so you can see whether the math favors a transfer for your numbers.
Quick answer: Compare staying on your current card vs. transferring to a 0% intro-APR card, including the transfer fee, side by side.
It usually is when your current APR is high and you can pay off most or all of the balance within the 0% intro period — the fee (typically 3-5%, charged upfront) is almost always less than months of interest at 20%+ APR. This calculator compares your specific numbers instead of relying on a rule of thumb.
Any remaining balance starts accruing interest at the card's ongoing APR, which varies by issuer and your creditworthiness — check your card's actual post-intro rate. This calculator uses your current card's APR as a conservative placeholder for that ongoing rate so the comparison doesn't understate the cost.
Most balance-transfer cards charge a one-time fee of 3-5% of the transferred amount, charged upfront and added to your new balance. Some promotional offers waive the fee entirely for a limited time — compare the fee alongside the intro period length, since a longer 0% window is often worth a higher fee.
Generally no — most issuers don't allow balance transfers between two of their own cards; the transfer has to go to a card from a different issuer. Check the specific card's terms before applying, since this restriction varies.