Credit Card Payoff Calculator
Estimate payoff timing, compare strategies, and see how extra monthly payments change total interest.
Payoff summary
Use this as a planning estimate, not a statement-by-statement projection.
Enter at least one card to see payoff timing, total interest, and your monthly schedule.
Assumptions
The calculator keeps the math explicit so the strategy comparison stays honest.
Interest is estimated from APR divided into monthly compounding periods.
Minimum payments are treated as fixed monthly floors based on the numbers you enter today.
No new charges, late fees, penalty APRs, or promo-rate expirations are included in the forecast.
Results
Review savings against minimum payments, payoff order, and the month-by-month balance path.
Strategy comparison
The savings callout compares the selected strategy with paying only the current minimums.
Add card data to compare time saved, interest saved, and the payoff order for each balance.
Monthly payoff schedule
The table is capped for readability, but the payoff math continues until the debt is cleared or the projection limit is reached.
| Month | Payment | Principal | Interest | Remaining balance |
|---|---|---|---|---|
| Enter card details to generate the payoff table. | ||||
Strategy Guide
Use the same inputs across multiple methods so you can separate motivation from math.
Minimum only
Pay only the required minimum on each card. This is the slowest comparison baseline and usually the most expensive path over time.
Fixed total payment
Keep your total monthly card payment steady. Once one balance is gone, the freed payment automatically stays in the payoff pool for the remaining cards.
Debt avalanche
Pay minimums on every card, then send the extra payment to the highest-APR balance first. This usually minimizes total interest.
Debt snowball
Pay minimums on every card, then send the extra payment to the smallest balance first. This can create earlier payoff wins, even if it costs more interest.
FAQ
These answers set the operating rules for what the calculator does and does not claim.
Why is this calculator only an estimate?
Most card issuers accrue interest daily and may charge different APRs or fees than this simplified monthly model. This page is designed for scenario planning, not for reproducing an exact statement.
Is avalanche always cheaper than snowball?
Avalanche usually wins on total interest because it targets the highest APR first. Snowball can still be useful if faster early card eliminations help you stick to the plan.
Does this include new purchases, fees, or promo APR expiry?
No. The estimate assumes no new charges, no late fees, no balance-transfer fees, and no APR changes after you enter today's numbers.
What should I do if I cannot afford the minimum payments?
Treat that as a debt-warning scenario, not just a calculator output. Contact your card issuer and consider talking to a nonprofit credit counselor before relying on a payoff timeline.