Help Users Escape High-Interest Debt
Build debt consolidation calculators with real personal loan rates from 4,300+ credit unions. Show users exactly how much they'll save by consolidating credit card debt into a low-rate personal loan.
How Do Debt Consolidation Apps Use RateAPI?
Debt consolidation apps use RateAPI to show real savings numbers. When a user enters $15K in credit card debt at 24% APR, the app queries personal loan rates and shows: "Consolidate to 9.99% APR, save $1,800 in interest over 36 months." Real rates from real credit unions—not hypothetical calculations.
Credit Card Debt Traps Users in Minimum Payment Cycles
Americans carry $1.14 trillion in credit card debt at an average APR of 24.6%. Making minimum payments, a $10,000 balance takes 27 years to pay off and costs $19,000+ in interest. Users know they're drowning but don't know how to escape.
Personal loans offer a way out—fixed payments, fixed timelines, and rates 10-15% lower than credit cards. But users don't know where to find good rates, and banks don't advertise their worst products. Credit unions offer the best rates but have no marketing budget.
A $15K debt consolidated from 24% to 10% APR saves $1,800+ over 36 months. Your app can show users exactly what they'll save with real rates from credit unions in their state.
Build a Debt Consolidation Calculator
Collect Existing Debt Details
Let users enter their credit cards and other debts. Capture balance, APR, and minimum payment for each. Calculate total debt and weighted average APR.
// User's current debtsconst debts = [ { name: "Chase Visa", balance: 5000, apr: 24.99, minPayment: 150 }, { name: "Citi Card", balance: 4000, apr: 22.99, minPayment: 120 }, { name: "Capital One", balance: 3000, apr: 19.99, minPayment: 90 }]; const totalDebt = 12000;const weightedAPR = 22.8; // weighted by balanceQuery Personal Loan Rates
Fetch real-time personal loan offers from credit unions. Filter by loan amount and term to show relevant options.
// Fetch personal loan ratesPOST /v1/decisions{ "decision_type": "financing", "context": {"geo": {"state": "TX"}}, "product_request": { "product_type": "personal_loan", "intent": "new_credit", "amount": 12000 }} // Response{ "recommendations": [{ "provider": "UFCU", "apr": 8.99, "term_months": 36, "type": "unsecured" }]}Calculate and Display Savings
Compare the cost of current debts vs the consolidation loan. Show monthly payment, payoff date, and total interest saved.
// Calculate savingsconst currentCost = calculateDebtCost(debts, 36); // $3,200 interestconst loanCost = calculateLoanCost(12000, 8.99, 36); // $1,420 interestconst savings = currentCost - loanCost; // $1,780 saved! // Display to user:// "Consolidate to UFCU at 8.99% APR"// "Payment: $381/mo for 36 months"// "You'll save $1,780 in interest!"Built for Debt Consolidation Apps
Real Savings Calculations
Show users actual savings with real APRs from credit unions. No hypothetical rates that disappear at application. Users can trust your numbers.
Multiple Term Options
Personal loans come in 12-84 month terms. Show users the tradeoff: shorter terms mean higher payments but less total interest.
No Origination Fee Options
Many credit unions charge no origination fees. Filter to show these options—3% on a $15K loan is $450 in hidden costs.
Credit Union Advantage
Credit unions offer rates 1-3% lower than banks. Your app surfaces these hidden gems that users would never find on their own.
Frequently Asked Questions
Common questions about integrating personal loan rates into debt consolidation applications.
Use POST /v1/decisions with product_type=personal_loan, the user's state, and loan amount. The response includes APR, term options, and loan limits from 4,300+ credit unions.
Credit unions typically offer personal loan rates 1-3% lower than banks and online lenders. On a $15,000 consolidation loan, that's $225-$675 saved annually in interest.
Yes, each loan offer includes min_amount, max_amount, and term_months. Filter to show only loans the user qualifies for based on their consolidation needs.
Sum the total interest on existing debts if paid over X months, then compare to personal loan interest over the same period. Account for any origination fees—credit unions often have none.
Yes, each loan includes a type field ("secured" or "unsecured"). Secured loans (backed by savings or vehicle) have lower rates but require collateral.
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