See exactly when you will be debt-free and how much interest you will pay. Enter your credit cards and loans, add any extra payment, and compare the debt snowball and debt avalanche methods side by side.
Add each credit card or loan. Use the balance, interest rate (APR) and minimum monthly payment from your statement.
Snowball pays the smallest balance first. Avalanche pays the highest interest rate first. Both pay every minimum and roll freed-up payments into the next debt.
How to use the debt payoff calculator
- List every debt you want to pay off: credit cards, car loans, personal loans, student loans. Most people leave the mortgage out.
- Enter the balance, APR and minimum payment from your latest statement.
- Add your extra payment, the amount you can put toward debt each month on top of all the minimums.
- Compare the two plans. The calculator shows your debt-free date, total interest and the month each debt is paid off with both the snowball and avalanche methods.
Snowball or avalanche?
The avalanche pays the highest interest rate first and always costs the least. The snowball pays the smallest balance first, giving you quick wins that keep many people going. If the interest difference is small, the snowball can be the better choice for you. Our full guide on debt snowball vs avalanche explains when each one wins.
Ways to get debt-free faster
- Raise the extra payment. Try adding $50 or $100 in the calculator to see how many months it saves.
- Lower your rates. A balance transfer card or a lower-rate personal loan can cut the interest a lot.
- Use windfalls. Put tax refunds and bonuses straight onto the target debt.
- Keep a small emergency fund in a high yield savings account so a surprise bill does not go back on a card.
Paying down cards also helps your credit. See how to raise your credit score fast.
Frequently asked questions
Why does the calculator say “Never”?
Your payment on at least one debt is smaller than the interest it charges each month, so the balance keeps growing. Raise the minimum or the extra payment.
Does it include new purchases?
No. It assumes you stop adding to the debts. New spending on the cards will push your debt-free date back.
Is the interest exact?
It is a close estimate. Card issuers calculate interest daily and minimums can change as balances fall, so your real numbers may differ slightly.
This calculator is for general information, not financial advice.
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