Credit Card Consolidation Calculator

Credit card debt can take forever to pay off. Even worse, interest can pile up over time resulting in additional charges that make it tougher and more expensive to pay down your debt.

Rather than simply making minimum payments on your credit card, there’s another solution: credit card consolidation. By consolidating credit card debt with a personal loan, borrowers can pay off credit card debt in a fixed number of years and at potentially lower interest rates too.

See how much you could save with our Credit Card Consolidation Calculator below and check out our personal loan rates for consolidating credit cards.

Before consolidationAfter consolidation
Interest rate5.7%5%
Monthly payment$500/mo$1,321/mo
Total interest paid$45,000$9,259
Total balance paid$115,000$79,259
Lifetime savings+ $35,741

Total balance

Monthly payment

Total interest



January 2077



January 2077


Credit Card Consolidation Calculator FAQs

1. What assumptions does this calculator make?

To provide a savings estimate, this calculator makes a few assumptions, including:

  1. For the purpose of lifetime savings estimates, it’s assumed the borrower will only make the monthly payments they input for current credit cards.
  2. Borrowers make a fixed payment each month for the amount specified over the term selected.

2. Am I eligible for a personal loan? What rates are available for loans to consolidate credit card debt?

This calculator does not guarantee eligibility or interest rates for credit card consolidation loans.

Please see our list of personal loan options to find and compare interest rates, as well as check eligibility. Most lenders we’ve partnered with offer a soft credit pull eligibility check, so you can review the interest rates you qualify for in just a few minutes.

Interested in a personal loan?

Here are the top personal loan lenders of 2017!
LenderRates (APR)Loan Amount 
* = includes AutoPay discount
4.77% - 14.24%*$5,000 - $100,000Visit SoFi
5.25% - 12.00%$2,000 - $50,000Visit Earnest
5.75% - 16.24%1$5,000 - $50,000Visit Citizens
5.67% - 29.99%$1,000 - $50,000Visit Upstart
6.20% - 19.75%$3,000 - $25,000Visit Pave
8.00% - 25.00%$5,000 - $35,000Visit Payoff
9.95% - 36.00%$1,000 - $35,000Visit Avant
Advertiser Disclosure

Student Loan Hero Advertiser Disclosure

Our team at Student Loan Hero works hard to find and recommend products and services that we believe are of high quality and will make a positive impact in your life. We sometimes earn a sales commission or advertising fee when recommending various products and services to you. Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns. Student Loan Hero is not a lender or investment advisor. We are not involved in the loan approval or investment process, nor do we make credit or investment related decisions. The rates and terms listed on our website are estimates and are subject to change at any time. Please do your homework and let us know if you have any questions or concerns.