Credit Card Balance Transfer Calculator

Use our Free Balance Transfer Calculator to calculate how much interest you could save by transferring your balance to one of the balance transfer credit card offers in our balance transfer comparison table below.

How to use the balance transfer 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 advnace rate and any annual credit and balance transfer fees.

0% Balance Transfer Credit Card


Balance transfer credit cards are popular with Australian’s who are seeking to achieve one or all of the following:

  1. Save money on interest repayments
  2. Reduce the credit card fees they are paying across a multiple credit and store cards
  3. Simplify how they manage their debt into a single monthly repayment

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.

0% Balance Transfer Interest Saving











Save money on interest with a Balance Transfer Credit Card

Balance transfer credit cards are designed to help cardholders who are feeling the strain off mounting debts, repay their debts in a timely and cost effective manner. When you calculate the savings in interest you could make using our balance transfer calculator by switching to a 0% balance transfer credit card the benefit of these cards becomes very clear.

Each balance transfer credit card includes 2 crucial features which will heavily influence how much you will save by making the switch to a balance transfer card; a balance transfer interest rate and a balance transfer period:

1. Balance Transfer Rate

This is the interest rate that will be applied to the balance you transfer to a  balance transfer card. This balance transfer rate should be significantly lower than the interest rate that you are paying on your current credit card. Many balance transfer offers are currently offering an interest rate of 0% p.a., a selection of these are featured in the comparison table above.


2. Balance Transfer Period

This is the period for which the balance transfer interest rate will apply to the transferred balance, it generally ranges from 6 to 24 months. By repaying the debt your transferred within the balance transfer period of a 0% p.a. Balance Transfer card card you will incur no interest charges on the balance subject to staying within the T&C’s of the card, more on these below.


Maximizing your interest savings with a 0% Balance Transfer Credit Card


0% p.a. Balance Transfer Rate for up to 6 months

If you are 100% confident can you repay the full balance you intend to transfer within 6 months, this option is well worth considering as it clears the debt in a relatively short period of time. If you are not 100% confident you will have the resources or discipline to repay the full debt within 6 months you should extend your search to include balance transfer credit cards with longer balance transfer periods, which still offer the 0% p.a. balance transfer rate.


0% p.a. for up to 24 months Balance Transfer Credit Cards

​If the balance you are seeking to transfer is large or you believe you need a decent amount of time to fully clear the debt a long-term balance transfer period maybe the best option. With Balance Transfer periods of up to 24 months long-term balance transfer credit card offers are designed to help spread the cost of paying off the debt, whilst minimizing the interest charged on this debt.


Managing your Balance Transfer Credit Card

The Do’s

  • Select a balance transfer credit card that provides the right combination of low balance transfer rate and transfer period for your circumstances, getting this balance wrong will potentially end up costing you in interest charges.  For example a 0% p.a. rate  for 6 months would end up being more costly than a 2.99% p.a. balance transfer rate for 24 months, if you’re more likely to settle your debt within 2 years than 6 months.
  • Consider the revert rate of the balance transfer credit cards under consideration. At the end of the balance transfer period the rate of interest applied to any unpaid debt will be significantly higher than the balance transfer rate, so just in case you don’t manage to clear all the debt it’s wise to seek a competitive revert rate on your balance transfer credit card.
  • Make your monthly payments on time - Never, Never, Never miss your monthly repayment - credit card providers will generally penalize cardholders for missing of payments very heavily, in the worst cases this can see the balance transfer interest rate being switched to the credit cards revert rate.


The Don’ts

  • Discount balance transfer credit cards that charge an annual fee from your selection process. By paying an annual fee, you could be paying for more favorable terms for your balance transfer such as a longer introductory period and a lower ‘go-to’ rate when that period is up.
  • Assume that you can easily transfer to another balance transfer credit card when the low rate period finishes. While new customers are always welcome, credit card providers are pretty selective about whom the offer 0% balance transfer deals, and are constantly assessing the level of risk they are willing to take with new cardholders. By constantly switching credit cards to secure a 0% balance transfer rate you are sending indicators to the credit card providers that you may lie in the high risk category, which may lead to rejection of future card applications.