Finance Tools
Medical Debt vs Credit Card Payoff Calculator
Compare paying off medical debt directly versus transferring it to a credit card by estimating total interest and payments for each option.
Medical Debt vs Credit Card Payoff Calculator
Compare the total cost of paying medical debt directly versus transferring it to a credit card.
Tip: Credit cards often have higher APRs but may offer short-term flexibility. Compare carefully before transferring medical debt.
How to use this medical debt vs credit card payoff calculator
- Enter your medical debt balance.
- Enter the APR and repayment period for the medical debt.
- Enter the APR and repayment period for the credit card option.
- Calculate total interest and total paid for both options.
- Compare which option costs less overall.
Example
If medical debt is $6,000 at 8% APR for 24 months, and credit card APR is 18% for 24 months:
- Medical debt interest ≈ $520
- Credit card interest ≈ $1,200
- Medical debt option is cheaper in this example
More tools in Finance Tools
- Credit Card Payoff Calculator
Estimate how long it will take to pay off a credit card based on balance, APR, and monthly payment.
- Balance Transfer Calculator
Compare the cost of staying with your current credit card versus moving your balance to a new card with an introductory APR and transfer fee.
- Credit Card APR Savings Calculator
Estimate how much interest you could save by reducing your credit card APR, based on balance, payments, and payoff timeline.
- Credit Card Cash Advance Fee Calculator
Calculate the upfront fee and immediate interest cost of a credit card cash advance.