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Use the result without fooling yourself
A useful payoff date starts with numbers you can repeat next month.
Protect every minimum
Your total budget must cover each required minimum before extra money goes to a target card.
Choose a repeatable extra
Use a monthly amount that still leaves room for essentials and an emergency buffer.
Stop new charges
The schedule assumes no new spending. A new balance moves the date and increases interest.
Two valid routes
Pick the trade-off you can sustain
Highest APR first
After all minimums, the extra payment attacks the most expensive balance. This usually minimizes interest and is the calculator's default.
Smallest balance first
The extra payment attacks the smallest balance. Interest may be higher, but the first paid-off card can arrive sooner and create momentum.
Transparent monthly model
What the calculator is doing
Each month, interest is added, every entered minimum is paid, then the remaining budget is directed by your strategy. A paid-off card frees its share of the budget for the next target.
payoff accelerator = monthly budget − active minimums
new balance = old balance + interest − payments
A quick reality check
Two balances, one fixed budget
/mo
$6,800 at 23.9% and $3,200 at 18.9%
The built-in example assigns a $450 monthly budget against $275 of entered minimums. Use “Show example” to compare avalanche and snowball results, then replace every amount with your own statement figures.
Before you trust the date
Four assumptions worth checking
Interest timing
The model uses APR ÷ 12 and month-end payments. Many issuers use average daily balances, so statement interest can differ.
Minimum payments
Entered minimums stay fixed until the final payment. Issuer formulas may reduce or change the required amount as balances fall.
Stable account terms
APR, fees and promotional terms remain unchanged. Deferred-interest offers and balance transfers need a separate calculation.
No new activity
The model excludes purchases, cash advances, late fees and missed payments. Additions will delay payoff.
Common questions
Credit card payoff calculator FAQs
How long will it take to pay off my credit card?
Enter the current balance, APR, required minimum and total monthly budget. The calculator simulates each month until the balance reaches zero. If the payment does not cover interest and minimums, it will flag the plan instead of inventing a payoff date.
How much should I pay to clear $10,000 in a year?
The exact payment depends on each card's APR and timing. Choose “Hit a target date,” enter 12 months and use your statement balances and rates. The result is an estimate, not a lender quote.
Does paying twice a month reduce interest?
It can when an issuer calculates interest daily, because an earlier payment may reduce the average daily balance. This calculator uses a monthly model and does not estimate intra-month timing benefits.
Is avalanche always better than snowball?
Avalanche usually produces the lowest interest under identical assumptions. Snowball can produce an earlier small-balance win. Consistency matters more than a strategy you abandon.
Can I include a balance-transfer offer?
Not accurately in the current version. A transfer fee, promotional expiry date and post-promotion APR materially change the schedule. Model the original cards here, then compare the transfer terms separately.
Why does my statement show a different payoff estimate?
Your issuer may calculate interest daily, use a changing minimum-payment formula or apply different rates to balance categories. Fees, new activity and posting dates also matter. Treat the statement as the account authority.
Primary references
How the assumptions were checked
- Consumer Financial Protection Bureau — how credit card interest is commonly calculated (reviewed January 22, 2024).
- Consumer Financial Protection Bureau — APRs, minimum payments and balance-transfer fees.
- Regulation Z §1026.7 — periodic-statement payoff and minimum-payment disclosures.
Educational planning only. Results are estimates based on the values and assumptions shown. They are not credit, legal, tax or financial advice and do not replace your card agreement or latest statement.