Balance transfer cards can save hundreds — or cost more than they save. Here's the math, plus a checklist.
The 60-second test
A balance transfer is worth it when the interest you'd save is bigger than the transfer fee. That sounds obvious, but most people never run the math. Plug your numbers into the Balance Transfer Calculator and you'll get a yes/no in seconds.
What can go wrong
The trap: paying the minimum during the 0% promo, then getting hit with deferred interest or a 24%+ APR on whatever's left. The 0% APR Runway Planner shows you the exact monthly payment to clear the balance before the promo ends.
If you have multiple cards
Don't transfer in isolation. Run the Payoff Planner first to see whether the avalanche or snowball method beats a transfer for your specific debts.