Enter the amount of credit card debt you currently have and select your credit score bracket. You’ll now see an estimate of your potential savings on interest with a Marcus Personal Loan vs. carrying a balance on a credit card. This is what you might pay in interest on a Marcus Personal Loan vs. what you would pay in interest if you carry your balance on a credit card. Click here to learn more about how this is calculated.

This refers to how you make your credit card payments. The minimum payments calculation reflects making minimum payments on your credit card and fixed payments on a Marcus Personal Loan. The equal payments calculation reflects making equal payments to your credit card and fixed payments on a Marcus Personal Loan. 

In addition to the potential savings you may receive, our Personal Loan Calculator will also show you potential loan options you could receive. We highlight three options: Fastest payoff, Most common loan term and Lowest monthly payment to show different types of loan options you might select. Next to each option, you’ll also see the potential savings that plan has against a revolving debt on your credit card (keeping in mind minimum vs. equal payments). 

Total interest paid reflects the interest you would most likely pay with a Marcus Personal Loan as compared to the interest you would likely pay if you carry your balance on your credit card. The difference between those numbers shown in the Personal Loans Calculator reflects your potential savings with a Marcus Personal Loan.

APR stands for Annual Percentage Rate, which is the total yearly cost of borrowing money expressed as a percentage of the loan or in credit card terms, of the amount you’re carrying on your balance. In short, APR is the cost of borrowing money.

Credit card debt consolidation is one of the most common uses for a personal loan. Carrying a balance on a credit card can be very costly as credit card APRs are often much higher than those of a personal loan. However, you are not limited to using a Marcus Loan for credit card debt consolidation. Marcus offers personal loans for various use cases, including general Debt Consolidation, Home Improvement, Weddings, Vacation and Moving and Relocation.