Credit Card Payoff Calculator
Eliminate high-interest credit card balances. Model fixed monthly payments, find your debt-free date, calculate lifetime interest savings, and break free from the minimum payment trap.
Monthly interest accrues at ~1.88% per month ($140.63 this month).
Strategy Comparison: Your Plan vs. The Minimum Payment Trap
How to Pay Off Credit Card Debt: Mathematics, Avalanche & Snowball
Credit cards are revolving debt lines with daily compounding interest. Unlike fixed-term installment loans, credit card balances have no fixed maturity date, making it easy for borrowers to remain trapped in multi-decade cycles of debt.
Pay the minimum on all accounts, then funnel every available spare dollar toward the card with the highest APR (e.g. 29.99%). Once that card hits zero, roll its full monthly payment into the next highest APR. This strategy mathematically minimizes lifetime interest paid.
Pay minimums on all cards, but focus all extra payments on the card with the smallest dollar balance regardless of APR. Eliminating an entire account quickly provides immediate psychological wins that motivate sustained budgeting discipline.
Frequently Asked Questions
How does daily compounding on credit cards work?
Lenders calculate your Daily Periodic Rate (APR divided by 365). Each day, this rate is multiplied by your current balance to determine daily interest, which is added to the principal balance for the next day calculation.
Is a personal consolidation loan better than a credit card?
Consolidating 22%+ credit card balances into a fixed-rate personal loan at 9% to 14% APR can cut interest costs in half and establish a strict 36 or 60-month payoff schedule, provided you do not continue charging on the paid-off cards.
What is a 0% balance transfer card?
A balance transfer card offers 0% promotional APR for 12 to 21 months for a 3% to 5% transfer fee. If you can aggressively pay off the balance before the promo window expires, 100% of your payments go directly to principal.
Are my inputs saved or shared?
Never. 100% of calculation logic runs locally in your browser using client-side JavaScript. TreatFlow does not track, store, or transmit your credit card numbers or account balances.
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