VerCalc
Finance
Credit Card Payoff Calculator

Credit Card Payoff Calculator

Visualize your path to financial freedom. Compare payoff strategies, calculate interest savings, and find the fastest way to eliminate your credit card debt.

Your Debts

$
%
$
$
%
$
$

Amount you can pay above the sum of all minimums.

Debt Free In
1y 9m
Total Paid: $8,289
Total Interest
$1,289
Strategy
Avalanche
DISCLAIMER: This tool is for educational and estimation purposes only. It does not constitute financial advice. Results are estimates based on the information provided and do not strictly guarantee exact payoff dates or interest amounts, as actual credit card terms (daily compounding, fees, etc.) may vary.
1

Comparison of Strategies

We simulate your monthly payments month-by-month. We first pay the minimums on all cards to avoid penalties. Then, any extra money (your 'snowball') is directed entirely to the priority debt decided by your chosen strategy.

2

How it is calculated

Interest is calculated daily/monthly based on APR. The calculator assumes a constant APR and minimum payment behavior.

Debt Snowball

Pays off debts from smallest balance to largest. This provides quick psychological wins as you eliminate individual debts faster, keeping you motivated.

Debt Avalanche

Pays off debts from highest interest rate to lowest. This is mathematically optimal as it saves the most money on interest over the long term.

Credit Card Payoff Calculator

Visualize your path to financial freedom. Compare payoff strategies, calculate interest savings, and find the fastest way to eliminate your credit card debt.

US Tax Tables (2025 vs 2026): quick reference for debt planning

If you’re budgeting payoff speed and cash flow in the US, your take-home pay can shift when tax year parameters change. These tables are a quick reference. For a full estimate, use our Income Tax Calculator or browse US tax tools.

Standard deduction (2025 vs 2026)

Filing status20252026
Single$15,000$16,100
Married Filing Jointly$30,000$32,200
Head of Household$22,500$24,150
Married Filing Separately$15,000$16,100

Ordinary income bracket tops (quick snapshot)

YearStatus10% top12% top22% top24% top32% top35% top37% starts
2025Single$11,925$48,475$103,350$197,300$250,525$626,350$626,351+
2026Single$12,400$50,400$105,700$201,775$256,225$640,600$640,601+
2025MFJ$23,850$96,950$206,700$394,600$501,050$751,600$751,601+
2026MFJ$24,800$100,800$211,400$403,550$512,450$768,700$768,701+
2025HOH$17,000$64,850$103,350$197,300$250,500$626,350$626,351+
2026HOH$17,700$67,450$105,700$201,775$256,200$640,600$640,601+

How to Use This Calculator

  1. 1

    List Your Debts

    Enter the current balance, interest rate (APR), and minimum monthly payment for each credit card or loan.

  2. 2

    Set Extra Payment

    Determine how much extra money you can afford to pay towards your debt each month above the minimums.

  3. 3

    Choose Strategy

    Toggle between 'Snowball' (lowest balance first) and 'Avalanche' (highest interest first) to see which saves you more time or money.

  4. 4

    Review Plan

    Check your estimated debt-free date and total interest paid.

Common Questions

Q:What is the Debt Snowball method?

The Debt Snowball method involves paying off your debts in order from smallest balance to largest. You pay minimums on everything else and throw all extra money at the smallest debt. Once it is gone, you roll that payment into the next smallest debt, creating a "snowball" effect.

Q:What is the Debt Avalanche method?

The Debt Avalanche method focuses on interest rates. You pay off high-interest debt first regardless of balance. This method minimizes the total interest you pay and typically gets you out of debt slightly faster than the Snowball method.

Q:Should I consolidate my credit card debt?

Debt consolidation can be a good option if you can get a loan with a significantly lower interest rate than your credit cards. However, it is important to address the spending habits that led to debt in the first place so you do not run up the cards again.