The Calculator App
Debt payoff
Compare highest-rate and smallest-balance payoff orders for the balances, rates, and minimums you enter. This is not a payment plan from a creditor.
Mar 2029
Illustrative balances with $200 extra each month. Avalanche payoff Mar 2029, interest $2,655.30. Snowball payoff Apr 2029, interest $3,050.54. Not a quote. The interactive calculator replaces this summary in the browser.
How this debt payoff estimate is built
You enter each balance, its annual rate, and its minimum payment, plus one extra amount. The page runs that same set of payments twice: once to the highest rate, and once to the smallest balance. Nothing on this page looks up a rate or opens an account.
Questions
What is avalanche?
Avalanche sends the extra payment to the balance with the highest annual rate. When that balance reaches zero, the extra moves to the next highest rate. If two rates match, the balance listed first is paid first.
What is snowball?
Snowball sends the extra payment to the smallest balance. When that balance reaches zero, the extra moves to the next smallest balance. If two balances match, the one listed first is paid first.
What happens to a minimum after a balance is paid off?
The next month, that minimum is added to the extra payment. It is not sent to a balance that is already zero. During the payoff month, a minimum that is larger than the amount owed is capped at the amount owed.
What does this leave out?
Fees, promotional rates, due dates, and a creditor hardship plan are not calculated. Interest is one-twelfth of the annual rate you enter, rounded half-up to the cent. The page does not contact a creditor or enroll a repayment plan.