SSmartCardOffers

Credit Card Calculator

Balance Transfer Savings Calculator

Calculate how much interest you can save by transferring a high-interest balance to a promotional-rate credit card.

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Most Canadian cards charge 19.99% – 22.99%

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Fee: $120.00 — balance transferred: $8,120.00

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Many cards offer 0% – 2.99% for intro periods

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To clear balance in promo period: $677/month

Estimated Net Savings

$1,818

saved vs. staying on current card

Current Card
Balance Transfer
Starting balance$8,000$8,120.00
Transfer fee—$120.00
Total interest$2,666.73$728.40
Payoff timeline36 months30 months
Total cost$10,666.73$8,848.40

Balance remains after promo period

At your current payment of $300/month, you'll have $4,520 remaining when the promo ends — this reverts to 19.99%. To clear the full balance in 12 months, pay $677/month.

Results assume minimum payments. Most promotional rates end if you miss a payment — always pay on time during the promo period.

This calculator is for educational purposes only and does not constitute financial advice. Results are estimates based on the inputs you provide. Consult a licensed mortgage broker or financial advisor for advice specific to your situation.