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Credit Card Consolidation Calculator for Up to 15 Credit Cards

Calculator Preferences
Credit Card Consolidation Calculator

This calculator will calculate the payment, interest charge, and term savings that will occur if you consolidate all of your cards into one loan. Includes an eye-opening fixed-minimum toggle switch for each card. Results include a side-by-side chart comparing with and without consolidation, a text summary, and a bar chart. The Think tab includes:

  • What's wrong with "those" people?!
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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
Com-
pare
CompareComparisonComparison
Without
Consol-
idating
Without
Consol-
idating
Without
Consol-
idating
Without
Consolidating
With
Consol-
idating
With
Consol-
idating
With
Consol-
idating
With
Consolidating
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.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
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Tip

About

About the Credit Card Consolidation Calculator

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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Instructions

How to use the Credit Card Consolidation Calculator

Step #1:

For each credit card that has a balance, enter the name, balance, interest rate, monthly payment (indicate fixed or minimum) and then click the "+" button (may appear as "Add" or "Add Card", depending on the width of your device). If a statement has more than one interest rate, you might consider entering the rate balances as separate cards (Visa purchases, Visa cash, etc.).

For each credit card that has a balance, click the "Add Credit Card Row" button and enter the name, balance, interest rate, monthly payment (indicate fixed or minimum). If a statement has more than one interest rate, you might consider entering the rate balances as separate cards (Visa purchases, Visa cash, etc.).

Step #2:

Once you have all of your cards entered, enter the consolidation loan's interest rate, number of years, and loan fees (if any).

Step #3:

Tap the "Calculate Consolidation" button. This will populate the "Comparison Results" chart, as well as display a result summary, bar chart, and a button to create a printer friendly list of your entered cards.

Saving Entries:

If your web browser supports Local Storage, you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section (mobile: top right of the main screen), select "New Data Record" from the drop-down menu, enter a name for the data record, and then tap or click the Save button.

To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu. You can then save any changes to your entries by simply clicking the Save button while the data record is selected.

To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button.

Numbers and Decimals:

Only numeric characters (0-9 and decimal points) may be entered in numeric fields. Non-numeric characters (dollar signs, percent signs, commas, etc.) may cause calculation errors. If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable.

Popup Tool Tips:

Tap the info (i) icons for a further explanation of each entry field (you can click [X] or outside of the pop-up tool tips to close them). A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Disclaimer:

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

Scrolling & Shrinking:

In order to scroll the calculator vertically you will need to swipe just outside of the calculator's dark-blue border, or use the window's far right-hand scroll bar, whichever is applicable to your device.

If the top section of the calculator becomes to tall for your viewport, tapping in the "Enter a problem..." field should reset the top section to its original height.

Disclaimer:

The Algebra Calculator is the only calculator on the site that I did not create myself. And since I did not create it, I don't have access to the code for fixing any issues you may be experiencing. So if you are having issues with the calculator, please visit the support page at Mathway.com for assistance.

Glossary

Fields, Terms, and Definitions.

Reset button:

Clicking the "Reset" button will restore the calculator to its default settings.

Pocket Calculator

Calculate any amounts needed to enter into calculator.

 

Data Management

Save and retrieve entries and notes (requires HTML5 compliant web browser).

Calculator Data

Calculator Data:

If you are using the latest version of your web browser software, this feature will allow you to save your calculator entries to your web browser's local storage in between visits. This means the calculator entries can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save data between devices you will need to subscribe to the Ad-Free Member Version.

Save: To save a new set of calculator entries, select "New Data Record" from the dropdown list, enter a nickname for the data record, then click the "Save" button.

Load: To load a previously saved set of calculator entries, simply select the name of the data record from the dropdown list.

Save Changes: To save changes to a set of previously saved calculator entries, be sure the name of the data record is selected, and then click the "Save" button.

Clear: To clear a saved set of entries, be sure the name of the data record is selected, and then click the "Clear" button.

Backup Data
My Notes:
Subscribe to the Cloud level of the Ad-Free Member Version to save your entries and notes to a secure online database, allowing you to access your saved entries from any device or web browser.

Sorry! The Save functions are bonus features reserved for those who allow ads to display on the page.

If you would like to use the Save features, please disable ad blocking for this website and refresh the page. Or you can choose to subscribe to the Ad-Free Member Version of the site.

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

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