Financial Tool
Credit Card Payoff Planner
See exactly when you'll be debt-free and how much interest you'll save by paying a little extra each month. Choose between the Avalanche (highest interest first) or Snowball (smallest balance first) strategy.
Settings
Your Credit Cards & Debts
Never (payment too low)
3 yrs 10 mo
Summary
Total debt£3,300.00
Min payments/mo£75.00
Total monthly£75.00
Avalanche strategy
Pay minimums on all cards, then put any extra money towards the card with the highest interest rate. This saves the most money overall.
Your Payoff Plan — Avalanche Order
| Order | Card | Balance | APR | Payment/mo | Paid off in | Total interest |
|---|---|---|---|---|---|---|
| 1 | Card 1 | £2,500.00 | 24.9% | £50.00 | Too low | £9,999,999.00 |
| 2 | Card 2 | £800.00 | 19.9% | £25.00 | 3 yrs 10 mo | £349.80 |
| Total | £3,300.00 | £10,000,348.80 | ||||
* Calculations are estimates based on fixed monthly payments and do not account for changes in interest rates, fees, or missed payments. Always check with your card provider.