$50K in Credit Card Debt? This Math Will Shock You

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What does $50,000 in credit card debt really cost you?

In this example, I break down the numbers using a hypothetical 28% credit card interest rate and compare it with a hypothetical 7% rate using a Home Equity Line of Credit (HELOC).

At 28%, $50,000 in credit card debt could mean approximately $14,000 per year in interest using a simplified interest calculation.

At a hypothetical 7% rate:

$50,000 × 7% = $3,500 per year

That’s a difference of approximately:

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