This credit card debt calculator will help you pay off your credit card debt faster using the avalanche method. It applies two simple principles to help you pay off your credit card debt as fast as possible:
To see how this can be applied to your credit card debt, enter your credit card balances and an additional "Roll-down amount" (an extra amount you can chose to put toward paying down your debt each month). The calculator will then apply your additional monthly payment to the credit card with the highest rate. When that credit card is paid in full, the card with the next highest rate will be paid down. This continues until you have rolled through all of your credit cards and your debt is paid in full. Click the "View Report" button for a detailed look at the results.
Consolidating your debt is only half of the battle. You still need a plan to get your debt paid in full. This calculator can show you how to accelerate your debt payoff. The process is simple. Just apply a portion of your consolidated loan's monthly payment savings to the consolidated loan's balance. You can save hundreds, even thousands in interest and shave years off of your loan!
The interest you pay on your debt can quickly become very expensive. Use this calculator to help determine just how expensive your debt has become. Enter all of your credit cards and outstanding installment loans balances. Find out how much you owe, how much interest you are scheduled to pay and how long it will take to pay it all off.