| Total Credit Card Debt |
$14,300.00 |
| Total Interest Saved |
$4,381.00 |
| Total Time Savings |
7 Years 7 Months |
The credit card roll down (snowball method) applies two simple principles to paying off your credit card debt:
- 1. Pay off your highest interest rate first.
- 2. When a credit card balance is paid in full, apply its monthly payment to the balance with the next highest interest rate.
To see how this can be applied to your credit card debt, enter your credit card balances and an additional roll down amount. 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.
This calculator is provided only as a general self-help planning tool. Results depend on many factors, including the assumptions you provide and may vary with each use and over time. We do not guarantee its accuracy, or applicability to your circumstances.