Credit Card Payoff Calculator
💳 Credit Card Payoff Calculator
Take control of your credit card debt with our comprehensive payoff calculator. Compare different payment strategies, see exactly when you'll be debt-free, and discover how much interest you can save.
📊 Debt Information
Card 1 Details
Outstanding balance on this card
Annual percentage rate on this card
Required minimum payment
Total amount you can pay towards credit cards each month
📈 Payoff Analysis
Your debt elimination strategy and timeline
Results
Note: This calculator provides estimates based on the information you provide. Actual results may vary due to changes in interest rates, fees, payment timing, and other factors. Always consult with a qualified financial advisor before making major financial decisions. Consider seeking help from a nonprofit credit counseling service if you're struggling with debt.
📚 Credit Card Debt Elimination Guide
🎯 Debt Payment Strategies
Debt Avalanche Method
Pay minimums on all cards, then put extra money toward the highest interest rate card first.
Cons: May take longer to see progress on individual cards
Debt Snowball Method
Pay minimums on all cards, then put extra money toward the smallest balance card first.
Cons: May cost more in total interest
💡 Money-Saving Tips
- ✓ Stop using credit cards while paying them off to avoid adding more debt
- ✓ Consider balance transfers to lower-interest cards if you qualify
- ✓ Pay more than the minimum whenever possible to reduce interest charges
- ✓ Make bi-weekly payments instead of monthly to reduce interest accrual
- ✓ Use windfalls wisely - apply tax refunds and bonuses to debt
- ✓ Negotiate with creditors for lower interest rates or payment plans