Credit Cards Payoff Calculator
Your Credit Cards (up to 5)
Payoff Summary
| Months to Debt-Free | — |
|---|---|
| Total Interest Paid | — |
Payoff Order
How to Use This Credit Cards Payoff Calculator
Three cards, three minimums, one extra hundred bucks—and no clear answer on which balance to attack first. Snowball gives you a win fast; avalanche saves the most interest. I built this to show both timelines side by side with your actual card names and balances.
- Enter each card. Up to five cards with name, balance, APR, and minimum payment. Leave unused rows blank.
- Add extra monthly payment. Dollar amount beyond all minimums combined.
- Select payoff strategy. Snowball (lowest balance first) or Avalanche (highest APR first).
- Press Calculate. Review months to debt-free, total interest, and payoff order by card.
Modeling a single card payoff? Use the Credit Card Calculator. For mixed debts beyond cards, try the Debt Payoff Calculator.
Credit Cards Payoff Formulas and Practical Applications
Both strategies pay every minimum on time each month. The extra payment goes to one priority card until it is zero, then rolls to the next. When a card is paid off, its minimum joins the extra pool.
Monthly interest per card
Interestcard = Balance × (APR ÷ 100 ÷ 12)
On a $3,000 Visa at 21.99%, first-month interest is about $55.
Snowball priority
Extra payment targets the smallest balance. A $1,500 Mastercard at 18.99% clears before a $3,000 Visa—even if the Visa has a higher rate.
Avalanche priority
Extra payment targets the highest APR. That same $3,000 Visa at 21.99% gets attacked first, saving more interest over the full payoff.
Frequently Asked Questions
What is the debt snowball method?
Snowball targets the lowest balance first while paying minimums on all other cards. When one card is paid off, its minimum rolls into extra payments on the next target.
What is the debt avalanche method?
Avalanche targets the highest APR first to minimize total interest. Extra payments go to the most expensive balance while minimums cover the rest.
How many credit cards can I enter?
Up to five cards. Leave unused card rows blank if you have fewer balances to track.
What happens when a card is paid off?
That card's minimum payment is added to the extra payment pool and applied to the next priority card in your chosen strategy.
Which strategy saves more interest?
Avalanche typically saves more interest because it attacks the highest-rate balance first. Snowball may finish individual cards faster for motivation.