How is the minimum payment calculated?

Standard estimate: 1.5% of the current balance, with a $25 floor. Real card minimums vary slightly by issuer.

Does this account for new spending?

No — the simulation assumes you stop adding to the balances. Cut up the cards or freeze them while paying down.

Debt Payoff Calculator

Snowball vs avalanche — see which payoff strategy gets you out faster.

Result

Best strategy: Snowball

Saves $0.00 in interest

Snowball — pays off in54 months (4.5 yrs)
Snowball — total interest$6,566.87
Avalanche — pays off in54 months (4.5 yrs)
Avalanche — total interest$6,566.87
Total balances$25,500.00
Monthly budget$600.00

How to use this calculator

Enter each debt's current balance and APR.
Set the total amount you can put toward all debts each month.
Compare the two strategies and pick the one that fits your psychology.
For more debts, group small ones together as one entry.

About this tool

Two proven debt-payoff methods, side by side. The Snowball method targets your smallest balance first (regardless of interest rate) — quick wins, big motivation. The Avalanche method targets the highest APR first — mathematically optimal, saves the most interest. Enter up to three debts and your total monthly payment budget; the calculator simulates both strategies month by month and tells you which one frees you faster and how much interest you save by going avalanche. If your budget is below the combined minimums, you'll see "budget too low" — increase it or list fewer debts.

Frequently asked

Avalanche always saves more in pure dollars. Snowball wins if you need quick visible progress to stay motivated. Pick the one you'll actually follow through on.