Financial Calculators – Credit

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Calculators > Credit

Accelerated Debt Payoff Calculator

Consolidating your debt is only half of the battle. You still need a plan to get your debt paid in full. This calculator can show you how to accelerate your debt payoff. The process is simple; just apply a portion of your consolidated loan’s monthly payment savings to the consolidated loan’s balance. You can save hundreds, even thousands in interest and shave years off of your loan! 

Consolidation Loan Investment Calculator

Getting a consolidation loan can do more than payoff your debt. You can create a sizable nest egg by investing all or a portion of your monthly payment savings. After a few years the results may surprise you! Use this calculator to see the results of paying off your debt and investing your payment savings. Click the “View Report” button for a detailed look at your results.

Cost-of-Debt Calculator

The interest you pay on your debt can quickly become very expensive. Use this calculator to help determine just how expensive your debt has become. Enter all of your credit cards and outstanding installment loan balances. Find out how much you owe, how much interest you are scheduled to pay and how long it will take to pay it all off.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results. 

Credit Card Minimum Payment Calculator

Use this calculator to determine how long it will take you to payoff your credit cards if you only make the minimum payments. Enter your credit card information below and press “View Report” to see your payoff details.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results. 

How Long Will It Take To Pay Off My Credit Card?

Americans today owe more money than ever before. The fact that ‘interest never sleeps’ means that the situation will continue to worsen unless steps are taken at the individual level to reduce or eliminate debt.

Credit Card Optimizer Calculator

The Credit Card Optimizer helps you determine the best distribution of your credit card debt. By entering your credit card balances, rates and credit limits this calculator determines which balance transfers will produce the greatest savings.

Credit Card Pay Off Calculator

Use this calculator to see what it will take to pay off your credit card balance, and what you can change to meet your repayment goals. 

Debt Consolidation Calculator

Should you consolidate your debt? This calculator is designed to help determine if debt consolidation is right for you. Fill in your loan amounts, credit card balances and other outstanding debt. You can then see what your monthly payment would be with a consolidated loan. Try adjusting your terms, loan types or rate until you find a consolidation plan that fits your needs – and most importantly your budget! 

Home Equity Debt Consolidation Calculator

This calculator is designed to help determine whether using equity in your home to consolidate debt is right for you. Enter your credit cards, installment loans and any other debt you wish to consolidate by clicking on the “Enter Data” button for each category. Then change the consolidated loan amount, term or rate to create a loan that will work within your budget. Click the “View Report” button for detailed results. 

How Much Do You Owe Calculator

Use this calculator to find out how much you owe. This can be used as a good starting point for your debt management plan. Enter all of your credit cards and outstanding installment loan balances. Find out how much you owe and how long it will take to pay it all off. 

Personal Debt Consolidation Calculator

Should you consolidate your debt? This calculator is designed to help determine whether debt consolidation is right for you. Enter your credit cards, auto loans and other installment loan balances by clicking on the “Enter Data” button for each category. Then change the consolidated loan amount, term or rate to create a loan that will work within your budget. Click the “View Report” button for detailed results. 

Roll-Down Your Credit Card Debt Calculator

The credit card roll-down applies two simple principles to paying off your credit card debt.

  1. Pay off your highest interest rate first.
  2. When a credit card balance is paid in full, apply its monthly payment to the balance with the next highest interest rate.

To see how this can be applied to your credit card debt, enter your credit card balances and an additional Roll-down amount. The calculator will then apply your additional monthly payment to the credit card with the highest rate. When that credit card is paid in full, the card with the next highest rate will be paid down. This continues until you have rolled through all of your credit cards and your debt is paid in full. Click the “View Report” button for a detailed look at the results.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results. 

Snowball Debt Elimination Calculator

The Snowball Debt Elimination Calculator applies a simple principle to paying off your debt. When a balance paid off, add its monthly payment to your next debt’s payment. This continues until you have snowballed through all of your balances and your debt is paid in full. The calculator can also apply an additional monthly amount to accelerate the debt payoff. 

Stream-Lined Snowball Debt Elimination Calculator

The Snowball Debt Elimination Calculator applies a simple principle to paying off your debt. When a balance paid off, add its monthly payment to your next debt’s payment. This continues until you have snowballed through all of your balances and your debt is paid in full. The calculator can also apply an additional monthly amount accelerate the debt pay off.

By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

Student Loan Consolidation and Debt Payoff Calculator

The Student LoanConsolidation and Debt Payoff calculator applies two simple principles to paying off high-interest debt.

  1. Consolidate your existing student loans
  2. Use your extra cash every month to pay off your higher-interest debt sooner

We apply the amount of payment savings you choose to your non-student loan debt with the highest rate. When that balance is paid in full, the balance with the next highest rate will be paid down. This continues until you have rolled through all of your balances and your non-student loan debt is paid in full. Click the “View Report” button for a detailed look at the results.

Should I Pay Off Debt Or Invest?

When you receive some extra money it may be difficult to determine whether you should invest the funds or use them to pay towards liabilities. Financial theory recommends that if your after-tax return on investments is greater than your after-tax cost of debt then you should invest. 

Should I Transfer My Credit Card Balances?

You might realize significant monthly interest savings by transferring your higher rate credit card balances to a lower rate credit card.

Credit Score Estimator

Although credit scores are calculated differently by the various credit bureaus, you can get an estimate of what your score may be by using this calculator. The three main things that help you have a good credit score are first, having a long history of making all debt payments on time, second using the proper mix of credit, and third not maxing out on available credit.

How Long Until My Loan Is Paid Off?

By making consistent regular payments toward debt service you will eventually pay off your loan.

What Would My Loan Payments Be?

The loan amount, the interest rate, and the term of the loan can have a dramatic effect on the total amount you will eventually pay on a loan. 

Do I Have Too Much Debt?

How much debt is too much?

What Is The Balance On My Loan?

If you know your current payment, the interest rate and the term remaining, you can calculate your outstanding loan balance. 

Should I Consolidate My Personal Debt Into A New Loan?

With interest rates at historical lows, it may make sense to consolidate some of your credit card and other personal debt into a new consolidated loan, typically a home-equity loan. Consolidation loans can significantly reduce your required monthly payment because they are generally amortized over 10 or 15 years.

Restructuring Debts For Accelerated Payoff

Over the last couple of years with interest rates at a 40-year low, many people refinanced their mortgages. Use this calculator to find out if refinancing makes sense for you. 

Which Is Better: Cash Up Front Or Payments Over Time?

Use this calculator to help determine whether you are better off receiving a lump sum payment and investing it yourself or receiving equal payments over time from a third party. 

What Is The Impact Of Making Extra Payments On My Debt?

Over the course of a loan amortization you will spend hundreds, thousands, and maybe even hundreds of thousands in interest. By making a small additional monthly payment toward principal, you can greatly accelerate the term of the loan and, thereby, realize tremendous savings in interest payments.