You can use a credit card consolidation calculator to see how much money you can save with credit card consolidation. The best credit card consolidation calculator shows you how you can lower your interest by paying down credit card debt with a personal loanand saving money in the process.

The best way to consolidate credit card debt is with a personal loan. A personal loan is an unsecured loan typically from $1,000 – $100,000. A personal loan, which is also known as a credit card consolidation loan, can be used for debt consolidation, home improvements, medical bills and other major life purchases such as an engagement ring, wedding or honeymoon.

Credit card consolidation loans are not bad for your credit if you manage your credit wisely. A credit card consolidation calculator shows you how much money you can save through debt consolidation.

If you have credit card debt, you are likely paying a relatively high-interest rate, which could range from 10-20%. Based on the credit profile, debt-to-income ratio, monthly cash flow and other factors, you could qualify for a lower rate. That lower rate through a personal loan can save you substantial money and help pay off credit card debt faster.

Plus, with a credit card consolidation loan, you can increase your credit score because you will improve your credit card utilization ratio. Your credit card utilization ratio is the ratio of your current balance to your credit line. For example, if you have a $10,000 credit limit and have a current credit card balance of $3,000, then your credit card utilization ratio is 30%.

Generally, your goal should be to maintain a relatively low credit card utilization.

The best credit consolidation calculator helps you calculate how much money you can save through credit card consolidation. A credit card consolidation loan calculator calculates how much interest you save when you consolidate credit card debt. Also, a credit card consolidation calculator shows your new monthly payment, new total payment and how much faster you can pay off credit card debt.

The proceeds of the personal loan are used to pay off the credit card debt, and then you pay off the personal loan.

This credit card consolidation loan calculator is easy to use. Here is how it works:

The credit card consolidation loan calculator will calculate automatically your total savings with a credit card consolidation loan.

This credit card consolidation calculator does not make your eligible for credit card consolidation loans or guarantee an interest rate.

To be eligible for a personal loan, you don’t need to have the best credit. Your interest rate for a personal loan will depend on several factors, which may include your credit score, debt-to-income ratio, monthly cash flow and other factors.