Credit Card Consolidation

If you're in the very unfortunate position of having debt on multiple credit cards, you may be able to substantially reduce your monthly payment and interest charges by consolidating your credit cards. Ideally you should consolidate your credit card debt into a real loan rather than moving all the debt onto a single card. Credit card debt is the worst kind to have, and a single consolidated loan is likely to have a much better interest rate, and less fees. Use this calculator to see how much you can save.

Credit Card Consolidation Calculator

Find out how much you can reduce your monthly credit card payments by consolidating your credit card debt into one, lower interest rate loan with our free Credit Card Consolidation Calculator.

Just enter the details for each of your credit cards (you can also choose to enter debt amounts for other obligations) along with the details for the consolidated loan and click the Calculate New button.

Balance Payment Interest
Additional Cash?
New Loan Information
Enter data about your planned New Loan with us (change any of the proposed numbers below).
Proposed interest rate (%):
Loan term:
Estimated closing costs ($):
Federal & state tax rate (%):
Results Current New Loan
Total debts:
Affective rate before taxes:
Affective rate after taxes:
Total monthly payment:
Monthly savings:
Annual savings:
Five year savings:
Ultimate Savings Report

This section details the additional savings you'll have from applying what you're paying now to your new loan, rather than making the reduces payments. You'll see that you can dramatically decrease the time it takes you to pay off your debts, along with the interest payments you'll have to make.

Total years saved if same old payments are made on new loan:
Total years until "free & clear" if savings are paid to principal:
Total interest saved over life of loan if savings are applied to principal:

What You Should Know