Credit Cards Payoff Calculator
Compare avalanche and snowball methods to pay off multiple credit cards and become debt-free faster.
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Enter Your Credit Cards
Payoff Summary
Total Debt
$0.00
Total Interest
$0.00
Payoff Time
0 months
Interest Saved
$0.00
Payoff Progress
Understanding Credit Card Payoff Strategies
Avalanche vs. Snowball
Avalanche pays off highest interest first, saving money. Snowball pays off smallest balance first, providing motivation. Both help you become debt-free faster.
Tips for Success
- Make extra payments when possible.
- Avoid adding new debt while paying off cards.
- Track your progress for motivation.
Key Formula
Monthly Interest:
Interest = Balance × (APR / 100) / 12
Payoff Time:
Months = log(Payment / (Payment - Balance × Monthly Rate)) / log(1 + Monthly Rate)