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 rate15%10%
Monthly payment
Total interest paid$3,750$1,075
Total balance paid$13,750$11,075
Lifetime savings+ $2,675
By consolidating your credit cards with a total balance of $10,000 at a weighted average interest rate of 15% with a new loan at a 10% interest rate, your new monthly payment would be $461/mo. Your lifetime savings with your new loan would be $2,675 compared to the total balance you’d pay on your credit cards.

Consolidate and pay off debt with personal loan rates as low as
5.67% APR.

Total balance

Monthly payment

Total interest



February 2021



February 2019


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 - $100,000
5.75% - 16.24%1$5,000 - $50,000
5.67% - 29.99%$1,000 - $50,000
8.00% - 25.00%$5,000 - $35,000
5.25% - 12.00%$2,000 - $50,000
9.95% - 36.00%$1,000 - $35,000
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.