Credit Cards Payoff Calculator
Enter each card’s balance, minimum payment and APR plus the monthly budget you can commit. The calculator builds a cost-efficient debt-avalanche schedule: every card gets its minimum while all spare dollars attack the highest-rate card first.
TheCalculators — Credit Cards Payoff Calculator
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Debt Free In
38 months (3 yr 2 mo)
$14,500 across 3 cards at $500.00/mo
- Total Card Balances
- $14,500.00
- Minimum Payments
- $310.00
- Monthly Budget
- $500.00
- Total Interest
- $4,471.20
- Total Paid
- $19,000.00
- Debt-Free Date Offset
- 3 yr 2 mo
Balance by card
- Card 1$4,600
- Card 2$3,900
- Card 3$6,000
Avalanche payoff order (highest APR first)
Method: debt avalanche — minimums on everything, leftover budget to the highest-rate card. Assumes no new charges and static rates.
The avalanche method minimizes total interest. If motivation is your struggle, the snowball method (smallest balance first) costs a little more but delivers faster visible wins.
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Formula
Each month: pay all minimums from budget → apply leftover to the highest-APR card; interest = balance × APR/12
Pro tips
- • Every spare dollar above minimums should attack the highest APR card.
- • Paying mid-month lowers your average daily balance and the interest charged.
- • A 0% balance-transfer offer can pause interest while you attack principal.
FAQ
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