Finance
What Happens If You Consolidate $30K in Credit Card Debt?
The Answer
$18,000 interest saved
The Full Picture
Carrying $30,000 in credit card debt at 22% APR and paying $750/month takes 62 months and costs $16,350 in interest. Consolidating to a 5-year personal loan at 10% drops your interest to $8,184 — saving $8,166. But the real win is the predictable payoff date and lower psychological burden.
By the Numbers
Credit card interest (22% APR)$16,350
Personal loan interest (10%)$8,184
Interest saved$8,166
New monthly payment$637
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These numbers are just a scenario. Use our Loan Calculator to see what your specific situation looks like.