This calculator creates a cost-efficient payback schedule for multiple credit cards using the Debt Avalanche method. To evaluate the repayment of a single credit card only, or for further information about credit cards and how they work, please visit our credit card calculator.
• Debt Avalanche Method: Pays minimum amounts on all cards while channeling 100% of your remaining monthly budget into the card with the highest APR, maximizing total interest savings.
• Snowball Rollover: As each card is paid off, its payment amount automatically rolls into the next target card until all cards are eliminated.
Enter your monthly debt budget and balance details for each card.
| # | Credit card | Balance ($) | Min pmt ($) | Rate (%) | |
|---|---|---|---|---|---|
| 1 | $ | $ | % | ||
| 2 | $ | $ | % | ||
| 3 | $ | $ | % | ||
| 4 | $ | $ | % | ||
| 5 | $ | $ | % | ||
| 6 | $ | $ | % |
By paying $500.00/mo, you will eliminate all $14,500.00 in card debt 3.8 years earlier than paying minimums.
Cards prioritized in descending APR order for maximum financial efficiency.
| Card Name | Starting Balance | Interest Rate (APR) | Payoff Timeline | Interest Paid |
|---|---|---|---|---|
| Card 2Target #1 | $3,900.00 | 19.99% | Month 16 (1 yrs, 4 mos) | $574.32 |
| Card 1Target #2 | $4,600.00 | 18.99% | Month 28 (2 yrs, 4 mos) | $1,541.17 |
| Card 3Target #3 | $6,000.00 | 15.99% | Month 38 (3 yrs, 2 mos) | $2,355.65 |
Exact monthly payments and remaining balance per card terminating at $0.00.
When carrying balances across multiple credit cards, the order in which you pay off accounts has a massive mathematical effect on your total interest expense and time to financial freedom.
Prioritizes debts strictly in descending order of Annual Percentage Rate (APR). By destroying the most expensive debt first, you prevent compounding finance charges from accumulating, saving the maximum possible dollar amount.
As Card 1 is eliminated, its minimum payment is not pocketed; instead, it rolls directly into Card 2. This creates an ever-growing avalanche of monthly cash attacking each remaining balance.
While the Debt Snowball pays smallest balances first for psychological quick wins, the Debt Avalanche is mathematically superior, resulting in lower total payments and a faster overall debt-free date.
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