Personal Loan vs Credit Card Calculator
Should you consolidate credit card to personal loan.
Compare personal loan vs credit card cost. See savings from consolidating credit card balance to personal loan. Free and educational.
What this tool does
Enter balance, credit card APR, personal loan APR, and term. The tool shows savings from consolidating.
Enter Values
Formula Used
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Calculations, display, or translation — let us know.
Disclaimer
Results are estimates for educational purposes only. They do not constitute financial advice. Consult a qualified professional before making financial decisions.
Personal loans typically half the rate of credit cards. 8k credit card at 22% vs personal loan at 8%: monthly payment 230 (loan) vs 210 (card minimum). But loan clears in 3 years vs 25+ years on minimum. 6k+ interest saved.
Quick example
With balance to consolidate of 8,000 and credit card apr of 22% (plus personal loan apr of 8% and loan term of 3), the result is Personal Loan. Change any figure and watch the output shift — it's often more useful to see the pattern than to memorise the formula.
Which inputs matter most
You enter Balance to Consolidate, Credit Card APR, Personal Loan APR, and Loan Term. Two inputs usually tip the answer one way or the other. Identify which ones matter most by flipping each value past a round threshold and watching whether the winning option changes.
What's happening under the hood
Calculate total interest for personal loan over term. Approximate credit card interest at minimum payment for comparison. The formula is listed in full below. If the number looks off, you can retrace the calculation by hand — that's the point of showing the working.
Why payoff plans work
Debt feels overwhelming when it's an abstract total. Break it into a payoff date and a monthly figure and the problem becomes finite — you can see the finish line. That visibility is what this tool provides, and for many people it's the difference between dithering and acting.
What this doesn't capture
Real payoff journeys include missed payments, fee changes, balance transfers, and promotional rates that reset. The calculation assumes a steady plan; reality is rarely that clean. Use the figure as the best-case plan against which actual progress gets measured.
Loan vs CC produces savings based on the inputs provided.
Inputs
This example uses typical values for illustration. Adjust the inputs above to match a specific situation and see how the result changes.
Sources & Methodology
Methodology
Calculate total interest for personal loan over term. Approximate credit card interest at minimum payment for comparison.
References
Frequently Asked Questions
Always consolidate?
What rate to expect?
Risk?
Vs balance transfer card?
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