Credit Card Payoff Calculator

Add your debts, choose a strategy (❄️ Snowball or 🏔️ Avalanche), and see when you’ll be debt‑free.

Your debts

Add as many cards/debts as you need. Calculations are done month by month.

Name Balance ($) Rate (%) Min. payment ($)
Total - - -
Total monthly budget
$/month
Choose your strategy

Understanding credit card payoff

A credit card charges interest on the remaining balance. In practice, the higher your balance stays, the more interest you pay and the longer the payoff takes.

  • Minimum payment: avoids late payments, but can keep you in debt for years.
  • Avalanche: prioritizes the highest rate to reduce total interest cost.
  • Snowball: prioritizes the smallest balance to get quick wins and stay motivated.
  • “Payment freed up” effect: when a debt is paid off, its minimum payment becomes available to speed up the others.

Key takeaway: if your budget covers the minimums but not the estimated monthly interest, your balance may stall or increase. In that case, increase your budget or try to reduce the rate (balance transfer, consolidation, negotiation, etc.).

FAQ - Credit cards

Avalanche or Snowball: which should you choose?

Avalanche generally minimizes total interest by attacking the highest rate first. Snowball can be more motivating because you close out a debt sooner. The best strategy is the one you can stick with until the end.

Why can my balance increase even if I pay every month?

If your monthly budget is lower than (or very close to) the monthly interest generated by your balances, your debt can stall or grow. The calculator shows a warning when your budget covers the minimums but not the estimated interest.

Is the minimum payment enough?

It’s enough to avoid being late, but it’s rarely optimal. The more you pay above the minimums, the faster you reduce principal and future interest.

Does this calculator exactly match my card?

This is an estimate based on a monthly calculation (annual rate / 12). Some cards calculate interest daily and apply rules (grace period, fees, rate changes). Use these results as a guide.

How can I reduce my interest faster?

Increase your budget, prioritize high rates (Avalanche), or reduce the rate via a balance transfer, consolidation, or negotiation. Even a small monthly surplus can significantly move up your end date.