Debt Consolidation Calculator
Compare what your current credit card or high-rate debt really costs against one fixed-rate consolidation loan — monthly payment, payoff date, and total interest side by side.
Debt you have today
Average US credit card APR runs 21–25%
Consolidation loan
Staying as you are
With a consolidation loan
When consolidation actually saves money
Consolidation works when two things are true: the new rate is meaningfully lower than your blended current rate, and you don't re-run the balances back up on the cards you just paid off. A $18,000 balance at 24.9% paid at $620 a month takes roughly four years and costs thousands in interest. The same balance at 14.5% over 48 months usually lands both a lower payment and lower total cost.
The trap is term stretching. Dropping the payment by extending to 72 or 84 months can cost more in total even at a lower rate. Compare the "interest + fees" number, not just the monthly payment. If you want to model paying the new loan off early, use the early payoff calculator, and check the real all-in rate with the APR calculator.
Approval odds depend on your credit tier and debt-to-income ratio. See fair credit personal loans or bad credit personal loans for what lenders realistically approve. Business debt instead? Use the MCA consolidation calculator.
Frequently asked questions
When does debt consolidation save money?
When the new loan's APR is lower than the average rate on your current debts and you stop adding new balances to the cards you paid off.
Will consolidating hurt my credit?
There may be a small, short-term dip from the new account and inquiry. Over time, lower card balances and on-time payments can help your score.
What if the monthly payment goes up?
A fixed-term loan can have a higher payment than card minimums, but it ends on a set date and usually costs less in total interest.
See your real personal loan rate
Checking your rate takes about 60 seconds and uses a soft credit pull — it won't affect your score.
Check my rate