Credit Card Calculators

Trying to pay off credit card debt? Our credit card calculators can help you figure out how long it will take to pay off debt, how much interest you may incur, and ways to save money by consolidating debt. Start using these calculators today to begin your journey to be debt-free.

Credit Card Payoff Calculator

Get out of debt as soon as possible by increasing monthly payments on your credit cards.

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Credit Card Consolidation Calculator

Figure out how much you could save by combining all your debt into a new loan.

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Tips for managing multiple credit cards

1) Set up autopay: 
If you have several card bills to pay each month, it can be confusing to remember when each bill is due. Autopay is a convenient feature that automatically deducts the payment each month from your checking or savings account and can be set up to pay the minimum payment, full balance, or other amount. This helps you avoid late payment fees and high penalty APRs.

2) Change payment due dates: 
Many creditors allow you to adjust your payment due date to a day that works best for you. If you have more than one card, this can be a big help. Change card payment due dates to work with your cash flow — whether that’s making due dates on the same day or spacing them out.

3) Keep track of important terms: 
Managing multiple credit cards can be overwhelming. There are different annual fees, interest rates, penalty fees and credit limits for each card. You should keep track of these terms so you’re aware of how each card works.

4) Create a budget: 
Charging purchases across several cards may lead you to overlook exactly how much you’re spending, and whether you’re keeping within budget. There are many free budgeting apps you can use to track spending across various credit cards and set goals on how much you’re able to charge.

5) Consider closing cards: 
If you are struggling trying to manage several cards, it may be in your best interest to close a card. While this isn’t generally recommended and can hurt your credit score, it can be beneficial for cardholders who rack up high balances or pay annual fees without getting value from a card.

How to avoid high interest rates

Carrying a balance on a high interest card add can cause you to rack up interest charges until your balance is paid in full, but interest may be avoided by following a few best practices:

1) Pay on time and in full each month: 
On-time payment history is the most important factor of your credit score. It’s key to always pay on time and in full to avoid interest charges, late payment fees, penalty interest rates, and the cancellation of promotional offers.

2) Call your card issuer: 
If you’re carrying a balance on a high interest card, try negotiating a lower interest rate with your lender. Explain why you’re carrying a balance and provide a timeline for when you expect to pay it off. Many lenders are reasonable and may work with you. After all, it doesn’t hurt to ask!

3) Open a card with an intro 0% APR period or low interest rate: 
These cards can provide you with up to 18 months of interest free financing or significantly lower interest rates than other cards.

4) Consolidate your debt: 
Transferring debt from a high interest card to a balance transfer card or personal loan is a great way to get out of debt. Most balance transfer cards offer no interest for over a year and personal loans often have fixed terms with lower interest rates than credit cards.