Credit Card Calculator
Calculate credit card payoff strategies, compare payment methods, and find the best way to eliminate debt
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Payoff Summary
Your credit card payoff calculation
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About Credit Card Payoff Strategies
Payment Strategies
- • Minimum Payment: Pay only the required minimum (usually 2-3% of balance)
- • Fixed Payment: Pay a consistent amount each month
- • Payoff Goal: Calculate payment needed to pay off by target date
Tips for Faster Payoff
- • Pay more than the minimum whenever possible
- • Consider balance transfer cards with lower interest rates
- • Use the debt snowball or avalanche method for multiple cards
- • Avoid making new purchases while paying off debt
- • Consider consolidating high-interest debt
Debt Payoff Methods
- • Debt Snowball: Pay off smallest balances first for motivation
- • Debt Avalanche: Pay off highest interest rates first for savings
- • Debt Consolidation: Combine multiple debts into one payment