5 Best Credit Cards Payoff Calculators for Debt Repayment (2021)

Credit cards are a great way to avoid coughing up hefty amounts in a single purchase. Whether it’s for your shopping or grocery needs, credit cards can provide some financial assistance when you need it.

Credit cards also allow you to take your time in paying back your debt with monthly settlements. However, if you don’t pay back relatively quickly, you could end up paying a lot more than you bargained for.

To find out how long it might take you to pay off your own credit cards, check out these credit cards payoff calculators. That way, you can calculate the amount of time and money you would need in the long run.

Bankrate Credit Card Calculators

Bankrate’s personalized credit card calculator presents a customized debt-repayment plan for one credit card. This convenient tool allows you to select your payment amount or duration, according to your budget.

Type in your credit card balance and annual interest fee. Then select your payoff period in months in order to see how much you would need per settlement. You also have the option of entering your desired amount per remittance to see your payoff period. Customize the variables however you like and receive a generated payment plan instantly. 

CNN Money Debt-Free Planner

Similar to other credit card payoff calculators, CNN’s allows you to calculate multiple debts. Once you key in the required information, the site generates a specified date telling you when you can expect to be free from your debts. 

Simply name your debt and how much you owe, then the interest, and finally the amount you must pay per settlement. Calculate various amounts with ease, and receive your result instantaneously. This calculator allows you to foresee when you will most likely free yourself from debt.

This tool is especially helpful if you have multiple debts or credit cards. It works by calculating the interest collected during the month, adding it to your debt in the previous month, then subtracts the sum from your monthly payment. The process repeats itself until your debt amounts to $0 and issues the calculated debt-free date. 

Debt Payment Calculator from CreditCards.com

CreditCards.com offers a user-friendly interface, requiring minimal information to get you the answer you need. Save yourself from the hassle of calculating your interest amount and amortization schedule and have their calculator do it for you.

Input your credit card balance, APR, credit card issuer, and amount to pay per month. Receive instant feedback showcasing your payoff period and total interest. An additional feature allows you to view a personalized amortization schedule based on your credit card information.

Credit Karma Debt Repayment

This payoff calculator powered by Credit Karma not only shows your payoff period, amount, and debt-free dates but also incorporates visually appealing charts to help you better understand your payment plan. 

Once you have input your balance, interest, and choose from either payoff period or amount, click calculate to generate the results. The calculator would show you how long it would take to pay off your debts if you chose to customize the payment amount. Personalizing the payoff period will allow the calculator to present the amount you need to settle.

Compare the results with site-generated alternatives in terms of different balances, interest rates, and additional payments. All the information is presented neatly using tables and charts for visual support.

Snowball Calculator

The snowball debt payment approach is a systemized plan to pay your dues in the correct order, and, honestly, it might just be my favorite. Generally, it pertains to paying those with the highest interest rates first and leaving small amounts for later reimbursements. Another method is the avalanche, meaning you work from smaller to larger amounts when paying debts.

This calculator from What’s The Cost allows you to input up to 20 debts and generates a specified order of payments that you would have to follow—key in multiple credit cards, balances, interest rates, and minimum fees to receive the results. You can also input promotional rates and their expiration to reduce the amount if possible.

Choose from avalanche or snowball methods to customize your payment orders according to the interest rate. Either way will generate results showcasing the amount per settlement and payoff periods to give you a glimpse of how your repayment schedule should look. Additionally, it also shows you the benefits of your chosen payoff method.


Looking for a payoff calculator online will produce hundreds of results. However, not all calculators are created the same. Some are easier to use with more detailed information compared to others. It is essential to look for a calculator that has the information you need. Free yourself from debt with carefully timed out repayment plans using these calculators for fast and easy information and planning.

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