How to Calculate Credit Card Payoff (Snowball vs Avalanche)

Credit card debt is designed to trap you. Minimum payments cover mostly interest, touching very little principal.

The Pain of Minimum Payments

Paying just the minimum on a $5,000 balance at 20% APR can take 15 years to pay off. You'll pay double what you borrowed.

The Easy Way: Strategic Payoff

Our tool visualizes two proven strategies:

* Snowball: Pay smallest balances first.

* Avalanche: Pay highest interest rates first.

Frequently Asked Questions

Does paying off cards hurt credit?

No, it helps by lowering utilization. Closing old accounts can hurt temporarily.