Value of consolidating credit card debt tool

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.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice.

We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances.

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Similar to when you are being sold any product or service, be sure to read the fine print, understand what you are buying, and consult a licensed professional if you have any concerns.Discover Card is serious about safeguarding your personal information online.When you access your account and perform transactions on the Discover site we use 128-bit-Secure Sockets Layer (SSL) encryption technology-the most widely used method of securing internet transactions available today.Before you apply, we encourage you to carefully consider whether consolidating your existing debt is the right choice for you.Consolidating multiple debts means you’ll have a single monthly payment, but it may not reduce or pay your debt off sooner.