How does the credit card payoff calculator work?

The calculator uses your current balance, APR, and monthly payment to determine how long it will take to pay off your debt. It calculates monthly interest charges and applies your payment to interest first, then principal, showing you exactly when you'll be debt-free.

What's the difference between debt avalanche and debt snowball methods?

The debt avalanche method prioritizes paying off cards with the highest interest rates first, potentially saving you more money on interest. The debt snowball method focuses on paying off the smallest balances first, providing psychological wins that can help maintain motivation.

Should I pay off multiple credit cards at once?

If you have multiple cards, focus on paying minimums on all cards first, then apply any extra money using either the debt avalanche (highest interest first) or debt snowball (lowest balance first) method. Never skip minimum payments on any card.

💳 Credit Card Payoff Calculator

Calculate when you'll be debt-free and compare payoff strategies

Card Information

Payoff Strategy

Debt Avalanche (High Interest First) Debt Snowball (Low Balance First)

Credit Card #1

Current Balance ($)

APR (%)

Monthly Payment ($)

Extra Monthly Payment ($)

Additional amount to apply toward debt each month

Quick APR Selection

Payoff Results

Payoff Time

Total Interest

$--

Total Paid

$--

Interest Savings

$--

Strategy Comparison

Debt Avalanche: -- months, $-- interest

Debt Snowball: -- months, $-- interest

Payment Schedule

Month	Payment	Interest	Principal	Balance

Frequently Asked Questions

Disclaimer: This calculator provides estimates for educational purposes only. Results are based on the information you provide and assume consistent payments with no additional charges. Actual payoff times and interest costs may vary due to changes in interest rates, fees, payment timing, or additional purchases. Always consult your credit card statements and consider speaking with a financial advisor for personalized debt management strategies.