What is the difference between the avalanche and snowball methods?

The avalanche method prioritizes paying off the card with the highest APR first to minimize interest, while the snowball method targets the smallest balance first for quick psychological wins.

How should I format the credit card input list?

Enter each card on a new line using the format: card name, balance, APR, and minimum payment percentage, separated by commas.

Can I compare both payoff strategies at the same time?

Yes, select the 'Both' option under Strategy to view a side-by-side comparison of payoff times and interest savings.

What does the 'Extra Monthly Payment' field do?

It specifies the additional money you contribute each month, which is applied to the target card after all minimum payments are met.

Does this calculator support other types of debt like loans?

Yes, you can input any debt that requires a minimum monthly payment percentage and has a fixed APR.

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Credit Card Payoff Calculator

Compare avalanche (highest APR first) vs snowball (lowest balance first) strategies for paying off multiple credit cards. Enter cards as 'name, balance, APR%, minPayment%' per line plus an extra monthly payment. Shows payoff time, total interest, savings vs minimum-only, and balance decline curves.

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1 examples

3 cards: [email protected]%, [email protected]%, [email protected]%, $500 extra/month

Avalanche targets the 24.99% Mastercard first; snowball targets the $2k Amex first. Compare total months, interest, and savings vs minimum-only payments.

<div>Credit Card Payoff Calculator</div>

Inputs

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4 options

ContentPaste or type the main input values.1

Cards (one per line: name, balance, APR%, minPayment%)textareaRequired

SettingsAdjust formats, ranges, numbers, and modes.3

Extra Monthly PaymentnumberRequiredStrategyselectOptionalDecimal PlacesnumberOptional

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Credit Card Payoff Calculator

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Examples

1. Comparing Avalanche and Snowball for Three Cards

2. Accelerating Debt Payoff with a Tight Budget

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