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7 Best Credit Card Payoff Calculators

Online Credit Card Debt Repayment Calculators


If you want to know how long it will take you to pay off your credit card debt, or how much you need to pay to get rid of your debt faster, a credit card payoff calculator is what you need. Internet search results show thousands of pages of calculators. Here's a list of the best to be found.

CNN Money's Debt Reduction Planner

Enter your credit card balance, interest rate, and monthly payment. Then, choose whether you want to pay off with minimum payments, fixed payments, or by a certain date. The list accommodates up to 8 credit cards. If you choose the minimum-only payment option, the result tells you how long it will take to pay off your credit cards and how much interest and principal you will ultimately pay. The fixed payment option details how much long it will take to pay off your debt based on a fixed payment you enter. If you enter a debt-free deadline, the credit card pay off calculator lets you know how much you have to pay each month to meet that timeline. The fixed payment and debt-free deadline options create a detailed repayment plan.

Bankrate's Credit Card Payoff Calculator

Bankrate.com’s simple credit card calculator lets you quickly get the repayment period for once credit card. Enter your credit card balance and interest rate. You can enter your monthly payment amount to learn when you can be debt free or enter a debt-free time period for the monthly payment necessary to pay off your debt by that time.

Money-Zine.com's Debt Repayment Calculator

Money-Zine.com’s credit card debt repayment calculator shows you how much money you save by increasing your debt payments. Enter your total debt owed, interest rate (use an average if you have multiple debts), current monthly payment, and additional monthly payment. The calculator tells you how many months it will take to pay off the debt with your current payment, how to pay off at the increased payment, the number of months you save if you make extra payments, the total amount you’d pay at the current payment amount, the total amount you’d pay with increased payments, and the amount you’d save making extra payments.

YoungMoney.com Debt Repayment Calculator

This calculator allows you compare payoff times at your current monthly payment at an increased monthly payment. You can also calculate payoff based on a time period like 36 months. This card, unlike many others, lets you factor in an annual fee. That’s beneficial because it could equal an extra month or two in your repayment period. You can also include planned monthly charges on your credit card as well as two major purchases and the estimated purchase date. For example, you might charge new furniture for $3,000 set in 12 months.

WhatstheCost.com Debt Snowball Calculator

Most credit card calculators create a repayment plan with your highest interest rate debts getting paid off first. You can enter up to 20 credit cards, their balances, interest rate, any promotional rate and its expiration months, and your minimum payment. You can choose whether to pay off your debts in order of highest interest rate first or lowest balance first. Lots of people, including New York Times Best Selling Author Dave Ramsey, believe that paying off smallest balance debts first is best because debtors get a boost of motivation by knocking out some debts sooner. Whichever method you choose, the calculator lets you know the cost or benefit of paying your debts the other way.

AOL's Balance Payoff Calculator

AOL’s balance payoff calculator lets you factor in interest rate changes as well as an annual fee and future credit card charges.

Credit Card Finder's Credit Card Repayment Calculator

In this credit card repayment calculator from CreditCardFinder.com, you can enter up to 9 credit cards, their balance, interest rate, and current minimum payment. You also enter any additional monthly payment you can pay on your debt. Finally, you can choose a repayment strategy: highest interest rate debt first, lowest balance first, or based on the order you enter your credit cards. The calculator displays your total credit card balance, total minimum payments, and creates a repayment schedule based on your repayment strategy. The repayment schedule shows each credit card and the monthly payment you make until the credit card is repaid. You can download a spreadsheet of your repayment plan for future reference.

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