Balance Transfer Savings Calculator

Use our Free Balance Transfer Savings Calculator to work out how much interest you could save by transferring your credit card debt to one of the balance transfer credit card deals featured in our comparison table below.

How to use the balance transfer savings calculator:

  1. Enter the balance you are looking to transfer by using the slider below.
  2. Enter your current purchase interest rate - you'll find this on your credit card statement
  3. Check out the ‘Your Savings’ column, this is an estimate of how much you'd save on interest by switching to each card. Clicking on the ‘?’  icon explains how the savings are calculated.
  4. Click on the "Your Savings" column header to rank the savings from high to low

It is important to consider all the features of the balance transfer credit card when making your decision, in particular the revert rate, purchase rate, cash advance rate and any annual credit and balance transfer fees.

How much can I save by making a Balance Transfer?

The savings in interest charges which can be made by making a switch to a 0% p.a. Balance Transfer Credit Card can be significant. The chart below shows the savings which can be made by transferring a balance from a credit card with a purchase rate of 20% p.a. to a 0% p.a. for 18 months Balance Transfer Credit Card. By transferring a balance of $5,000 the interest savings, after paying the balance transfer fee of 2%, are $1,400, the last example on the chart shows a saving of $2,280 when you transfer a debt of $10,000. Try our balance Transfer savings calculator above to calclate your savings in interest from making the switch to a 0% Balance Transfer Credit Card.

Balance Transfer Savings