Consolidating credit cards calculator

Posted by / 21-Nov-2019 02:48

Consolidating credit cards calculator

Use our calculator to figure out if a debt consolidation loan could help you pay off your debt faster or cut down on interest.

Maximize savings by choosing the shortest loan term.

Using your equity to pay down debt can eliminate stress and worry and put you on a solid path to financial freedom on your own terms.

Plus, you'll enjoy the stability of one fixed monthly payment at a fixed interest rate that's probably much lower than what you're currently paying to multiple creditors.

You will realize interest payment savings when you make monthly payments towards the new, lower interest rate loan in an amount equal to or greater than what you previously paid towards the higher rate debt(s) being consolidated.

Keep in mind, though, while your monthly payments will be lower, in the long term you may pay more interest if the debt is extended over a longer period of time.

Dealing With Debt Provides a free debt calculator which compares the different debts you insert into the calculator versus a new loan.

It highlights potential savings or increase for those who want to pay more and get out of debt sooner.

This example is an estimate only and assumes all payments are made on time.

Your APR will be based on the specific characteristics of your credit application including, but not limited to, evaluation of credit history, amount of credit requested and income verification.

This calculator shows how a Wells Fargo Personal Loan may benefit you if you consolidate your existing debts into a single fixed rate loan.

Any results are estimates and we do not guarantee their applicability or accuracy to your specific circumstances.

Note: No Discover loans may be paid off with this debt consolidation.

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Before committing to any type of debt reduction strategy, make sure you are aware of all options – Learn more about and compare different debt relief strategies here.

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