Find your debt-free date, compare payoff strategies and see exactly how much interest you can save.
Credit card details
Current balance $5,000
Annual interest rate (APR) 19.99%
Monthly payment $200
Extra monthly payment (optional)
$
Debt-free date
Jun 2028
29 months to go
Total interest
$2,841
Total paid
$7,841
Monthly payment
$200
Interest saved vs min
$0
Should I pay more than the minimum?
Always. Minimum payments are designed to keep you in debt longer. Even $50 extra per month can save thousands in interest and years of payments.
What is a good credit card APR?
The average credit card APR in 2024 is around 20–24%. Anything below 15% is good. If you're above 24%, consider a balance transfer to a 0% APR card.
What is a balance transfer?
Moving your high-interest debt to a new card with 0% APR for 12–21 months. You pay a 3–5% transfer fee but save significantly on interest if you pay it off in time.
Your debts — Snowball method
Pay minimums on all debts. Put extra money toward the smallest balance first for quick wins.
Extra monthly payment $100
Snowball debt-free date
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Click calculate
Total interest
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Total paid
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Payoff order
What is the debt snowball method?
Pay minimum payments on all debts, then put all extra money toward the smallest balance. When it's paid off, roll that payment to the next smallest. Creates momentum and quick psychological wins.
Your debts — Avalanche method
Pay minimums on all debts. Put extra money toward the highest interest rate first to save the most money.
Extra monthly payment $100
Avalanche debt-free date
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Click calculate
Total interest
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Total saved vs snowball
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Payoff order
Snowball vs Avalanche — which is better?
Avalanche saves more money mathematically. Snowball provides more motivation through quick wins. Studies show snowball leads to better debt payoff completion rates for most people — but avalanche is optimal if you're disciplined.
How much extra should I pay each month?
Even $50–$100 extra per month makes a significant difference. The key is consistency. Cut one subscription, one takeout meal per week, and redirect that to debt.
About DebtCrack
DebtCrack is a free debt payoff calculator that helps you find your exact debt-free date and the fastest way to become debt free. Compare the debt snowball vs debt avalanche method, calculate credit card payoff time and see exactly how much interest you will pay.
Whether you have credit card debt, personal loans or multiple debts, DebtCrack shows you a clear payoff plan. Free, no signup, works on mobile and desktop. The fastest debt snowball calculator and debt avalanche calculator online.