Credit Card Payoff Calculator

When deciding which to pay off first when you have multiple loans, credit cards or other debts, it?s important to look at a few factors. So that you pay off your balance faster and pay less in interest overall, the results of this calculator can in some ways be used to inform your strategy. To save the most money in the long run, pay the debt that is closest to your credit max, or pay down the debt with the highest interest rate. Both of these options will help relieve some of your debt and raise your credit score. See if you can pay more than the minimum payment and if you can get a lower interest rate.

Credit Card Payoff Calculator

To use this Credit Card Payoff Calculator, just enter your current balance, APR, card issuer and monthly payment to see how long it will take you to pay off your balance and how much interest you will pay. In your results, the savings shown are based on the difference in total compound interest charges between the higher APR cards you entered and the lower promotional balance transfer APR net of transfer fees. Based on your payment activity and your purchase, as well as other fees, your actual savings may be different.

Payoff Calculator

Credit Card Balance

Credit Card Interest Rate

Payment per month

Your Results

Total Interest Paid

$0

Total Principal Paid

$0

Total Amount Paid

0

Months To Pay Off

0

Your Results

Total Interest Paid

Total Principal Paid

Total Amount Paid

Months To Pay Off

Months to become debt free

Disclaimer: The applicability of this debt payoff calculator to your personal financial circumstances and its accuracy are not warranted or guaranteed. This credit card payoff calculator is intended solely for educational and general informational purposes.

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