Personal Loan vs Credit Card Balance Transfer Calculator
Choosing between a 0% balance transfer card and a personal loan can save or cost you hundreds of dollars. This calculator runs both options month-by-month to show total interest, fees, and which option finishes cheaper.
About this calculator
Compare the total cost of paying off debt with a balance transfer credit card (including transfer fee and promo period) versus a fixed-rate personal loan, month by month.
Frequently Asked Questions
Which option is usually cheaper?
A 0% balance transfer is often cheaper if you can pay off the balance before the promo period ends. If not, the high post-promo APR can make it more expensive than a personal loan.
What happens if I don't pay off the card before the promo ends?
Any remaining balance starts accruing interest at the post-promo APR, which is often higher than a personal loan's rate.
Does this include annual fees?
No, this only models the transfer fee and interest. Add any annual card fees manually to the card total cost for a fuller comparison.