Calculate minimum payments, total interest costs, and optimal payoff strategies for credit card debt.
Plan your credit card debt payoff by calculating minimum payments, total interest costs, and determining the most efficient payment strategy to become debt-free faster.
Click on any example to load it into the calculator.
Typical scenario with a significant credit card balance and standard APR.
Balance: $8,000.00
APR: 19.99%
Min Payment %: 3%
Monthly Payment: $300.00
Smaller balance with aggressive payment strategy to eliminate debt quickly.
Balance: $1,500.00
APR: 15.99%
Min Payment %: 2%
Monthly Payment: $150.00
Card with high interest rate requiring strategic payment planning.
Balance: $3,000.00
APR: 24.99%
Min Payment %: 4%
Monthly Payment: $200.00
Scenario showing the cost of making only minimum payments.
Balance: $5,000.00
APR: 18.99%
Min Payment %: 3%
Monthly Payment: $0.00