Credit Card Payoff Calculator | Debt Snowball vs. Avalanche
This credit card payoff calculator lets you compare Debt Snowball and Debt Avalanche strategies. Calculate your debt-free date, total interest savings, and get a month-by-month repayment roadmap.
Optimal Method: Debt Avalanche
25 Mos
Avalanche saves you $3,508 and 33 Months compared to minimum payments.
Snowball Months25 Mos
Avalanche Interest$2,374
Total Starting Debt$9,200
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Credit Card ABal: $3,000 | APR: 18.99% | Min: $90
Credit Card BBal: $5,000 | APR: 24.99% | Min: $150
Retail Store CardBal: $1,200 | APR: 28.99% | Min: $40
Total Balance Depletion Trajectories Chart
Projections & Actions
Snowball vs. Avalanche StrategiesAvalanche Method allocate extra payment to the debt with the highest APR first, saving the most money. Snowball Method target the smallest balances first to gain psychological momentum.
Payoff Strategies Comparison Table
| Payoff Strategy | Payoff Months | Total Interest Paid | Total Amount Paid | Interest Savings | Time Savings |
|---|---|---|---|---|---|
| Minimum Payments Only | 58 Months | $5,882 | $15,082 | $0.00 | 0 Months |
| Debt Snowball (Lowest Balances First) | 25 Months | $2,527 | $11,727 | +$3,354 | +33 Months |
| Debt Avalanche (Highest APR First) | 25 Months | $2,374 | $11,574 | +$3,508 | +33 Months |