Credit Card Payoff Calculator
Enter your credit card balances, interest rates, and minimum payments plus any extra monthly payment you can make. This calculator simulates month-by-month payoff using both the avalanche (highest rate first) and snowball (smallest balance first) strategies so you can pick the one that saves you the most time and interest.
About this calculator
Compare the debt avalanche and debt snowball methods to see which strategy pays off multiple credit card balances faster and cheaper.
Frequently Asked Questions
What's the difference between avalanche and snowball methods?
Avalanche pays off the highest-interest-rate card first to minimize total interest paid. Snowball pays off the smallest balance first for psychological wins and momentum, though it may cost slightly more in interest.
Does this calculator account for changing interest rates?
No, it assumes your current APRs stay constant. If you have promotional rates that expire, results may differ.
How is the minimum payment estimated?
We estimate minimum payments as roughly 2% of the remaining balance, which is a common credit card issuer formula, with a $25 floor.