№ 040 · Debt & loans cluster
Credit Card Payoff Calculator
List your cards, set one monthly budget, and see the two ways out: the avalanche (highest APR first) versus the snowball (smallest balance first) — with the interest and the months each one saves, and the order your cards disappear.
Avalanche vs snowball
Your debts01
$
%
$
$
%
$
Your budget02
$
Interest saved · avalanche vs snowball
$139.85
Debt-free in 1y 9m
Avalanche · highest APR firstCheaper
Total interest$1,677.73
21 months · debt-free Jul 2028
Snowball · smallest balance first
Total interest$1,817.58
21 months · debt-free Jul 2028
- Snowball
- Avalanche
| Start | Snowball $8,500.00, Avalanche $8,500.00 |
|---|---|
| Year 0.3 | Snowball $7,442.60, Avalanche $7,439.37 |
| Year 0.5 | Snowball $6,334.30, Avalanche $6,317.61 |
| Year 0.8 | Snowball $5,172.17, Avalanche $5,131.16 |
| Year 1.0 | Snowball $3,945.15, Avalanche $3,876.30 |
| Year 1.3 | Snowball $2,646.54, Avalanche $2,549.08 |
| Year 1.5 | Snowball $1,272.16, Avalanche $1,147.10 |
| Year 1.8 | Snowball $0.00, Avalanche $0.00 |
Avalanche payoff order
| # | Card | Paid off |
|---|---|---|
| 1 | Card A | Month 16 |
| 2 | Card B | Month 21 |
How it works · methodology
The math, in the open.
monthly rate = APR ÷ 12 interest = balance × monthly rate (added to the balance each month) each month: pay every card its minimum, then send all remaining budget to the target card — avalanche: highest APR, snowball: smallest balance — rolling onto the next card the moment one is cleared
- APR
- A card’s annual interest rate
- budget
- Total you pay across all cards each month
- target
- The card extra payments attack first
Assumptions & limits
- Fixed APRs and fixed minimum payments; the monthly budget includes the minimums.
- Interest accrues monthly at APR ÷ 12; real issuers compound daily, so statements may differ by a few dollars.
- No new purchases, fees, or penalty APRs are modeled.
- If the budget can’t cover the minimums, no plan is possible — the tool flags it instead of guessing.
- An estimate to compare strategies, not financial advice or a payoff quote.
Sources
By the MintNumber Editorial Team·Reviewed
Frequently asked
Questions about paying off credit cards
What is the debt avalanche method?
You pay the minimum on every card, then throw all of your remaining budget at the card with the highest APR. When it is gone, that money rolls onto the next-highest-rate card. Avalanche always pays the least total interest, because it kills your most expensive debt first.
What is the debt snowball method?
Same idea, but you attack the card with the smallest balance first, regardless of rate. You clear individual cards faster, which is motivating — but you usually pay a little more interest than avalanche because higher-rate balances stick around longer.
Which saves more — avalanche or snowball?
Avalanche, always, on pure math: it minimizes total interest and time to debt-free. The gap is often small, though. Snowball can be the better choice if the quick wins keep you motivated enough to actually finish. This tool shows both so you can see the real difference for your debts.
Does paying more than the minimum really help?
Enormously. Minimum payments are mostly interest, so the balance barely moves. Every extra dollar goes straight to principal, which shrinks next month’s interest — the effect compounds, cutting both the time and the total interest dramatically.
What if I can’t cover all my minimum payments?
If your budget is below the sum of the minimums, no payoff plan works and the balances will grow. Reach out to your card issuers about hardship options, or a nonprofit credit counseling agency (find one via the NFCC). This calculator flags that case rather than showing a false payoff date.
How is credit-card interest calculated here?
We use a monthly rate of APR ÷ 12 applied to the balance each month, which matches how most calculators model it. Real issuers compound daily on the average balance, so your statement may differ by a few dollars — the payoff order and the avalanche-vs-snowball comparison are unaffected.