Credit Cards Payoff Calculator

Create cost-efficient payback schedules for multiple credit cards

This calculator creates a cost-efficient payback schedule for multiple credit cards using the Debt Avalanche method. To evaluate the repayment of a single credit card only, or for further information about credit cards and how they work, please visit our credit card calculator.

Credit Cards Payoff Calculator

Monthly budget set aside for credit cards:

Info of your credit cards:

Credit card	Balance	Minimum payment	Interest rate	Actions
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Why Have More Than One Credit Card?

Having multiple credit cards can offer various benefits such as different rewards programs, better credit utilization ratios, and emergency backup options. However, managing multiple cards requires careful planning to avoid accumulating excessive debt.

Debt Avalanche Method: This calculator uses the debt avalanche method, which prioritizes paying off the highest interest rate cards first. This approach minimizes the total interest paid over time, making it the most cost-effective debt payoff strategy.

Key Benefits: By focusing extra payments on the highest interest debt first, you can save significant money on interest charges and pay off your debt faster than using other methods like the debt snowball approach.