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Everyday Money Tool

Balance transfer planner

A 0% balance transfer can be useful, but only if the fee is worth it and the repayment plan exists before the promotional period ends.

0% windowsFee and expiry tested
Clear-by dateMonthly payment needed
Leftover riskPost-promo interest shown
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Planner

Check the offer before applying

Decision rules

When a balance transfer is doing a useful job

The fee is smaller than the interest saved

Do not focus on the headline 0%. The transfer fee is part of the cost and is usually added to the balance.

The old card is not reused

If the old card fills again, the transfer has converted one debt into two debts.

The balance is clear before expiry

If the monthly payment needed is impossible, treat the offer as breathing room, not a solution.

Sources

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