Personal Loan vs Credit Card Calculator

See whether refinancing a credit card balance into a fixed-rate personal loan actually saves money. Compare monthly payment, total interest, and payoff date once origination fees are included.

Credit card balance

Credit card APR

Card monthly payment

Personal loan APR

Loan term (years)

Origination fee

Many lenders charge 1–8%, often rolled into the loan.

Keep paying the credit card

$7,728

interest over 57 months

Monthly payment: $350

Refinance with personal loan

$2,606

interest + origination over 36 months

Monthly payment: $396

Savings from refinancing

Save $5,122 by moving the balance to a personal loan.

A personal loan ends on a fixed date and usually carries a lower APR than revolving credit. It only saves money if you don't re-load the credit card after the transfer.

How to Use

Enter the credit card balance you want to refinance and the current APR.
Enter the monthly amount you'd realistically pay either way.
Enter the personal loan APR, term in years, and the lender's origination fee.
Compare the total interest cost of staying on the card vs moving to the personal loan.
If the loan saves money, make sure you don't reload the credit card balance — that's what undoes most refinances.

Frequently Asked Questions

How do personal loan APRs compare to credit cards?

Prime personal loan APRs are typically 8–15% — meaningfully below the 18–28% APR range on most credit cards. Borrowers with fair credit see higher rates and may not save enough to justify the origination fee.

What is an origination fee?

A one-time upfront fee deducted from the loan proceeds or added to the balance, usually 1–8%. It effectively raises the APR, so include it when comparing to the credit card.

Does a personal loan improve my credit?

Often yes — it adds an installment account to a credit mix dominated by revolving debt, and paying down the card lowers utilization. Both tend to move FICO scores up. Don't close the card unless you're confident you won't need it.

How long should the personal loan term be?

Shorter terms save interest but raise the monthly payment. Most borrowers pick 3 years when refinancing credit card debt — long enough to handle cash flow, short enough to avoid paying too much interest.