Laertex
Credit Card Debt Payoff Plan
How can I pay off my credit card using a personal loan?
Using a personal loan to eliminate high-interest CC debt · Monthly schedule
20
Months to payoff
$300
Free cash / mo
$893
Total interest paid
$128
Interest saved vs CC
Loan balance
Monthly cycle breakdown
Month 1
Month 2
Month 3
Month 4
Month 5
Month 6
Month 7
Month 8
Month 9
Month 10
Month 11
Month 12
Month 13
Month 14
Month 15
Month 16
Month 17
Month 18
Month 19
Month 20✓ Paid off
Debt-free summary
Personal loan (17%) replaces CC debt (27%) · paid in full month 20
Payoff time20 months
Interest paid (loan)$893
Est. interest (CC only)$1,021
Net interest saved$128
How it works — cycle recap
- 1Loan pays CC in full — $5,000 cleared on Day 0. Interest rate drops from 27% to 17% immediately.
- 2CC absorbs monthly expenses — recurring charges go on the card each month and are paid in full to avoid any CC interest accruing.
- 3Income services the loan — every dollar of free cash after expenses goes straight toward principal, shortening the payoff window.
- 4Wait at the lower rate — each month you accrue 17% interest instead of 27%, saving money until the loan is gone.