Credit Card Payoff Calculator
Wondering whether to tackle your smallest balance first or your highest rate first? This free credit card payoff calculator compares the snowball vs. avalanche payoff plans side by side. Enter your balances, APRs, minimum payments, and what you can afford each month — you'll get your estimated debt-free date, total interest under each plan, and a month-by-month picture of your balances shrinking.
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Enter your cards to see your payoff plan.
How to use this calculator
List each credit card with its current balance, APR, and minimum payment. Start with two cards and tap + Add card if you have more (up to five). Then enter the total monthly payment you can afford across all cards — the calculator updates your results instantly as you type.
The results show both strategies side by side: your estimated debt-free date, how many months each plan takes, total interest, and total paid. The payoff order tells you which card gets your extra money first under each method, and the chart shows your total balance shrinking month by month.
If you see an error saying your payment is too low, raise your monthly budget: it has to be more than your minimum payments combined, and more than the interest your balances accrue each month — otherwise the debt never shrinks.
How it works
Each simulated month works like a real billing cycle. First, interest is added to every card's balance at its monthly rate (APR ÷ 12). Then your budget pays each card's minimum payment (or the full remaining balance if it's smaller). Whatever money is left over goes entirely toward the highest-priority card that still has a balance — the smallest balance for the snowball method, or the highest APR for the avalanche method. The simulation repeats until every balance hits zero.
Assumptions (estimates): APRs stay fixed for the whole payoff period; you make no new purchases; minimum payments stay constant even as balances shrink; every payment is on time, so no late fees; and the debt-free date simply adds the payoff months to today's date. Real statements vary, so treat the results as a planning estimate — always check your actual card terms.
Frequently asked questions
Snowball vs. avalanche: which payoff method is better?
The avalanche method (highest APR first) almost always costs less in total interest. The snowball method (smallest balance first) gives you quick wins that can keep you motivated. If the dollar difference is small, pick the one you'll actually stick with — this calculator shows both side by side so you can compare the real numbers.
What if I can only afford the minimum payments?
You'll still make progress, but payoff takes much longer and costs far more in interest. This calculator requires your monthly budget to be more than your minimum payments combined — even a small amount above the minimums speeds things up noticeably. Enter a budget just above your minimums to see the plan.
Does the calculator account for new purchases?
No. The calculator assumes you stop adding new charges to the cards. Any new spending will push your debt-free date out and add interest, so treat the results as a best-case plan based on your current balances.
How is the debt-free date estimated?
The calculator adds the number of months to payoff to today's date and displays it as a month and year. It's an estimate: it assumes your APRs stay fixed, minimum payments stay constant, you make every payment on time, and you take on no new debt.
How does the calculator split my payment each month?
Each month, interest is added to every card's balance at its APR divided by 12. Your budget first covers each card's minimum payment (or the full remaining balance if it's smaller). Whatever is left over goes to the highest-priority card that still has a balance — the smallest balance for snowball, or the highest APR for avalanche.