Credit Card Payoff Calculator
Start your life of debt freedom now
We can help you ease your debt burdens with our Credit Card Payoff Calculator. Just fill in your current card balances, corresponding interest rates, and monthly payments. With these, we will gauge how soon you may become free from debt. You may set how long you want your debt payoff to be and our Credit Card Payoff Calculator will show the resulting details.
Check your personal loan rates
The Credit Card Payoff Calculator may offer various possibilities according to your debt payoff goals. It may suggest plans that minimize your monthly payments and rates, or it may recommend the fastest path to debt payoff.
Let’s say you have a credit card balance worth $20,000, a 25% interest rate, and monthly payments of $1,000. Our Payoff Calculator concludes that you’ll take 27 months to pay the balance completely.
However, it also recommends monthly payments of $877 for 27 months, so you may have lower monthly payments and rates. In contrast, it shows that you may pay $1,112 monthly for 18 months with 0% APR from balance transfer cards.
Interested in a Personal Loan?
You may take out a personal loan with your bank, credit union, or private lender. These may be intended for any purpose, and they are paid out in one lump sum. These are often repaid to the lender over numerous years, much like we’ve elaborated regarding our Credit Card Payoff Calculator.
A key aspect of balance transfer credit cards is their 0% introductory rate. This enables you to pay your balances without interest for several months or even a year. Our Credit Card Payoff Calculator inputs an introductory APR of 18 months by default, but some cards may offer only 6 months.