Should You Consolidate Your Credit-Card Debt?

Find out whether your current payment ever clears the balance — and what a fixed-term offer would change.

This page is for anyone carrying a revolving balance and paying it down a month at a time. Enter your balance, the card's APR, and the payment you actually make each month, then the terms of a consolidation offer. RefiFastCalc simulates your current payoff month by month — how long it takes and what the interest costs you — and compares it against the fixed-term offer. If your payment is not enough to ever clear the balance, it will tell you that plainly.

When is consolidating revolving debt worth it?

Revolving debt has no finish line built into it. A card has no term — only a balance, a rate, and whatever you pay this month — and that is what makes it different from every other debt on this site. If the payment you make is smaller than the interest the balance charges, the balance grows no matter how faithfully you pay, and there is no payoff date to find. Most calculators will hand you a number anyway. This one will not: when your payment never clears the balance, RefiFastCalc says so instead of inventing a date. A fixed-term consolidation replaces an open-ended balance with an end date — which is the real thing being bought, often more than the lower rate. Whether it is worth buying is what the break-even month and the total-cost comparison are for.

What you enter

What you get back

How the math works

The calculator compares your current loan against the offer you are considering. Monthly savings is your current payment minus the new payment. Break-even is your total refinance cost divided by that monthly saving, rounded up to the next whole month.

Refinance a different kind of loan

Educational information, not financial, legal, or lending advice. RefiFastCalc is not a lender, broker, or loan originator; rates and approvals come only from licensed lenders.