Should I Consolidate My Credit Cards?
This calculator helps you compare what it could look like to move multiple credit card balances into a single balance. Use it to estimate how monthly payments and payoff time may change based on the numbers you enter. Results are estimates for planning. Your actual terms depend on eligibility and product details.
How This Calculator Works
By combining balances into one payment, consolidation may simplify repayment and help you compare costs across interest rates and terms. Results are shown in today’s dollars to reflect the present value of future payments. Balance transfer fees may apply when using an M&T Credit Card, and M&T Credit Cards can’t be used to pay off other M&T loans, credit cards or lines of credit.
What you’ll need
Your credit card balances, APRs (if available), and minimum or typical monthly payments.
Lending FAQs
A balance transfer moves a balance from one credit card to another credit card. Transferring balances with a higher annual percentage rate (APR) to a card with a lower APR can save you money on the interest you’ll pay. Balance transfers can also simplify bills by consolidating several balances with different creditors onto one card with one payment.
You can set up a balance transfer in the “Credit Card Balance Transfer” page in your M&T Online Banking platform. Alternatively, you may visit a branch or call 1-866-279-0888 to set up a balance transfer.
