Are Credit Card Balance Transfers Worth It?

At some point, you may receive an offer to transfer an existing credit card balance to a new card and receive a promotional interest rate for a set number of months. Are balance transfers worth it? It depends on the promotional interest rate, the length of the promotional period, the standard interest rate after the promotional period expires, and the amount of any fee to transfer your balance from one card to another. During the promotional period you might be paying a lower rate, or 0%, depending on the offer. Are the interest savings greater than the balance transfer fee? Whether or not a balance transfer if a good deal also depends on how long it takes you to pay off the card balance once you transfer it to a new card.

Use this calculator to determine if a credit card balance transfer is worth it.


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The calculations provided by this calculator are based entirely on the information you enter, including any loan amount and/or interest rate. These calculations do not reflect the terms available for any Regions loans or whether you qualify for any Regions loan. Find out more about Regions loans.