💳 How much would you save consolidating credit card debt with a personal loan?
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👋 Overview
You're carrying high-rate credit card debt and considering a consolidation loan. The math matters: a 17.99% personal loan beats 24-29% card rates, but you need to know if paying early saves money or locks you in. Plug in your balances and loan offers to see your true interest savings.
💳 Current Credit Cards
First, enter your current credit card details. In our story, the borrower has $13,000 in debt across cards charging up to 29%.
🏦 Consolidation Loan
Next, enter the terms of the personal loan offer. The story features a 17.99% APR loan over 48 months. (Note: most modern personal loans do not charge precomputed interest, meaning you save money if you pay them off early.)
Required Loan Payment
⏩ Early Payoff
Will you pay the same amount in interest if you pay it off in half the time? No—paying extra each month reduces your principal faster and saves you money. Let's see how much.
🔗 See Also
📊 Results
Action
Consolidate
Total Interest Saved
Saved by Consolidating
Extra Saved by Paying Early
Months Saved
Calculator updated by heyfinfam (v26.10.0) · View history
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Disclaimer: This content and any calculations provided are for informational purposes only. The views, calculations, and methodologies expressed are those of the author and do not necessarily reflect those of this platform. Not financial advice. Users are solely responsible for any decisions made based on this information.