Credit Card Consolidation Calculator for Up to 15 Credit Cards

Credit Card Consolidation Calculator Sign

This calculator will calculate the payment, interest charge, and term savings from consolidating all of your credits cards into one loan.

Unlike similar calculators on other sites, this calculator will also allow you to indicate whether or not you are making the declining minimum monthly payment on a given card, which can make a huge difference in calculating the consolidation savings.

If instead of consolidating your credit cards, you would rather pay them off using the rollover (snowball) method, please visit the Rapid Debt Reduction Calculator.

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Credit Card Consolidation Calculator

Calculate credit card consolidation payment and savings from taking out one loan to pay off all of your credits card balances at one time.

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Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Enter Credit Cards

Enter Credit Cards:

Note that depending on the width of the calculator, you will see either a vertical entry form optimized for mobile devices (narrow widths) or a horizontal entry form optimized for desktop devices (widths wide enough to accommodate rows and columns of entry fields).

To add a credit card, enter the name, balance, interest rate, and monthly payment. When you're satisfied with the entries, tap the + button (may also appear as "Add" or "Add Card" depending on the width of your device).

To edit a credit card in the list, tap the radio button in the Edit column. This will load the card into the form for editing. When you're satisfied with the changes you've made, tap the S button (may also appear as "Save" or "Save Changes" depending on the width of your device).

To delete a credit card from the list, tap the radio button in the Edit column. This will load the card into the form for deleting. Tap the button (may also appear as "Delete" depending on the width of your device).

To clear the form to create a new credit card entry, tap the C button (may also appear as "Clr" or "Clear" depending on the width of your device).

To add a credit card to your consolidation plan, click the Add Credit Card Row button. Then complete the row of entries for the card you are adding.

To remove a credit card from your consolidation plan, click the X button in the left-hand column of the row you wish to remove.

Important! The entered credit cards are saved in your device's random memory (temporary storage), which means that if you surf to another calculator or close this browser window you will need to re-enter your cards.

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Card
Name
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Statement
Balance ($)
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Interest
Rate (%)
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Payment
Amt ($)
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Min
Pmt
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Interest
Cost
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# Pmts
Left
Totals:  
Card name:Card name:Credit card name:Credit card name:

Credit card name:

Enter the name of the credit card as you want it to appear on the printed report. Note that if the card statement lists more than one interest rate (1 for purchases, 1 for cash advances, etc.), I suggest you enter the balances as separate cards (Visa purchases, Visa cash, etc.).

Balance:Balance:Statement balance:Statement balance:

Statement balance:

Enter the statement balance of the credit card, without any dollar sign or commas.

$
Rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the annual interest rate of the credit card. Enter as a percentage without the percent sign (for .06 or 6%, enter 6). If this credit card has more than one interest rate (1 for purchases, 1 for cash advances, etc.), enter the individual rate balances as separate cards (Visa purchase, Visa cash, etc.).

%
Payment:Monthly payment:Monthly payment:Monthly payment:

Monthly payment:

Enter the monthly payment for each credit card. If you are making only the declining minimum monthly payment, enter the minimum payment amount from your credit card statement.

$
Min pmt?Minimum pmt?Making only minimum payment?Making only declining minimum payment?

Making only declining minimum payment?

If you are only making the declining minimum monthly payment on this card, move the switch to "Yes". Otherwise, if you are making a fixed monthly payment on the card, move the switch to the "No" position.

If you want to quickly compare the interest cost and payoff term between fixed and minimum payments, move the switch back and forth (only after you have filled in the balance, interest rate, and payment amount).

If you are only making the declining minimum monthly payment on a card, check the checkbox in its row. Otherwise, if you are making a fixed monthly payment on the card, leave the row's checkbox unchecked.

If you want to quickly compare the interest cost and payoff term between fixed and minimum payments, check and uncheck a checkbox (only after you have filled in the balance, interest rate, and payment amount).

Interest:Interest cost:Interest cost through payoff:Interest cost from now till card is paid off:

Interest cost from now till card is paid off:

Based on your balance, interest rate and payment entries, this is how much interest you will pay on this credit card between now and when you make the final payment. Required Fields: The Statement Balance, Interest Rate and Payment Amount fields must all contain a valid entry for this field to be calculated.

If all three required fields contain valid entries, but the calculated interest cost is blank, then you will need to increase the amount of the payment until the interest cost appears.

Pmts left:Payments left:Number of payments left:Number of payments remaining:

Number of payments remaining:

Based on your balance, interest rate and payment entries, this is the number of payments remaining on this card. Required Fields: The Statement Balance, Interest Rate and Payment Amount fields must all contain a valid entry for this field to be calculated.

If all three required fields contain valid entries, but the calculated number of payments remaining is still blank, then you will need to increase the amount of the payment until the number of payments appears.

Consolidation Loan Terms

Consolidation Loan Terms:

After entering all of your credits cards, enter the consolidation loan terms into this section.

Loan rate:Consolidation rate:Consolidating loan's interest rate:Consolidating loan's annual interest rate:

Consolidating loan's annual interest rate:

Enter the annual interest rate of the credit card consolidation loan. Enter as a percentage without the percent sign (for .06 or 6%, enter 6).

%
Loan years:Consolidation years:Consolidating loan's term in years:Consolidating loan's term in number of years:

Consolidating loan's term:

Enter the term of the credit card consolidation loan in number of years.

#
Loan fees:Consolidation fees:Consolidating loan fees:Total of any consolidation loan fees:

Total of any consolidation loan fees:

Enter any fees or costs associated to the credit card consolidation loan (closing costs, origination fees, etc.). Enter as a dollar amount, but without the dollar sign and any commas.

$
Comparison Results
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Diff +/-Diff +/-Diff +/-Diff +/-
Pmt:Pmt:Payment:Monthly Payment:

Monthly payment row:

Total of monthly payments Without consolidation and With consolidation. A plus (+) sign in the Diff +/- column indicates the consolidation loan payment is greater than the total of your current payments. A minus (-) sign indicates the consolidation loan payment is less than the total of your current payments.

Pmts:Pmts:# payments:# of payments:

Months until credit cards are paid off:

The number of months until credit cards are paid off Without consolidation and With consolidation. A plus (+) sign in the Diff +/- column indicates the consolidation payoff term is greater than the current payoff term. A minus (-) sign indicates the consolidation payoff term is less than the current payoff term.

Cost:Cost:Total cost:Total cost:

Total cost row:

Total of cost (interest and loan fees) Without consolidation and With consolidation. A plus (+) sign in the Diff +/- column indicates the consolidation loan will cost you more than your current payoff interest charges. A minus (-) sign indicates the consolidation loan will cost you less than your current payoff interest charges.

If you would like to save the current entries to the secure online database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Help and Tools

Think

Before you judge the self-sabotaging behavior of others.

What's Wrong with "Those" People?!

Do you look down your nose at a person who drinks too much, eats too much, smokes, or does illegal drugs?

If so, I'm sure you will agree that the one thing all of these people have in common is that they are all borrowing from tomorrow's happiness to subsidize their current happiness.

Well, I hate to be the one to tell you this, but if you carry balances on your credit cards and only make the minimum monthly payment, then guess what you have been guilty of?

Yep, at some point in your past, you chose to borrow from your future happiness to subsidize your present happiness.

If that's true for you, then please be mindful of that fact the next time you find yourself being critical of a fellow human being who is engaged in any other form of future happiness-sabotaging behavior.

If you've never experienced it, self-inflicted financial devastation and the sky-high stress levels that come with it can be every bit as hazardous to your family, your health, and your happiness as any other form of "substance" abuse.

If you want to achieve the level of financial happiness that you could have been experiencing had you not borrowed from tomorrow, I suggest you pay off your credit card balances as fast as you can and adopt the following motto:

If I can't afford to pay cash for something, I can't afford it!

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.