See if it's worth transferring your balance You've seen plenty of offers in the mail trying to persuade you to transfer your existing credit card balance to a new card with a low promotional interest rate for a certain period of time. Figuring out if the offer is worth taking depends on the promotional interest rate, the length of the promotional period, what the standard interest rate is once the promotional period expires and what the fee is 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 they're a good deal or not 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 the deal works for you.