Credit Card Payoff

Required Inputs

Current Balance

Annual Percentage Rate (APR)

Minimum Payment Type

Minimum Payment (%) Typically 2-3% of balance

Minimum Payment Amount

Optional Inputs

Extra Monthly Payment

Amount beyond minimum payment

Payoff Comparison

Payoff Time (Min Only)

0 months

Payoff Time (With Extra)

0 months

Total Interest (Min Only)

Total Interest (With Extra)

Interest Saved

Time Saved

0 months

Payment Schedule (With Extra Payment)

Month	Payment	Principal	Interest	Balance

Credit Card Debt Strategies

Why Pay More Than the Minimum

Paying only the minimum keeps you in debt for years and costs thousands in interest. Even small extra payments can dramatically reduce payoff time and total interest paid.

Debt Payoff Strategies

Avalanche Method: Pay off highest interest rate cards first (saves most money)
Snowball Method: Pay off smallest balances first (psychological wins)
Balance Transfer: Move debt to 0% APR card (watch for transfer fees)
Debt Consolidation: Combine multiple debts into one lower-rate loan

Tips to Pay Off Faster

Make payments bi-weekly instead of monthly
Put windfalls (tax refunds, bonuses) toward debt
Cut expenses and redirect savings to payments
Stop using the card while paying it off
Negotiate a lower APR with your card issuer

Credit Card Payoff Calculator

Credit Card Payoff

Required Inputs

Optional Inputs

Payoff Comparison

Payment Schedule (With Extra Payment)

Credit Card Debt Strategies

Why Pay More Than the Minimum

Debt Payoff Strategies

Tips to Pay Off Faster