Debt, Credit Card, And Loan Details
Enter credit cards, personal loans, car loans, and other debts, then choose the monthly amount you can commit. PlainFigure compares payoff strategies, transfer offers, consolidation loans, and projected schedules in one place.
Add a debt to the payoff plan
Use the same fields for each credit card or loan, then add it to the debt list below.
Estimated from balance and APR. You can overwrite it with the statement minimum.
Debts in this plan
Review the cards and loans that will be included in the payoff calculation.
| Debt | Type | Balance | APR | Minimum | Promo | Actions |
|---|
Set the payoff budget and method
Minimums are always paid on every debt. Extra dollars follow the payoff method you choose below.
Avalanche targets the highest APR first. Snowball targets the smallest balance first. Extra payment target order lets you choose the sequence manually.
Advanced minimum payment settings ?
Balance transfer cards (optional)
Move part or all of one or more card balances to one or more promo APR offers, then compare the transfer fee, payoff date, interest, and net savings against staying put.
This is the transferred balance cap before the transfer fee is added to the modeled card balance.
Eligible balances
PlainFigure automatically checks revolving credit card balances for transfer modeling. Fixed payment loans are available but left unchecked unless you choose to include them. Transfer cards are filled in the selected payoff method order: highest APR first, smallest balance first, or your custom manual order.
Consolidation loans (optional)
Compare your payoff plan with one or more fixed personal loans. When balance transfers are also selected, PlainFigure models both product orders and uses the lower-cost path: loan funds first or transfer cards first, depending on the rates, fees, promo terms, and payoff timeline.
Modeled as financed into the consolidation loan principal.
Debt payoff results
Start with the answer, then open the detailed tables if you want the full month-by-month math.
Detailed payoff method comparison
Payoff progress
Month-by-month payoff timeline
Monthly payment by debt
Sensitivity checks
Test how the selected method changes if the budget, transfer APR, or transfer fee moves.
Debt-by-debt summary
What This Means In Real Life
Questions To Ask Yourself
Results are estimates for educational purposes only and are not financial advice. Transfer promos can change or be lost, new purchases are not modeled, and loan approval, APR, fees, term, and credit impact vary by lender and borrower. See full disclosure.
For educational purposes only. Not financial advice.
How these calculations work
Monthly interest
Each month, interest is estimated as current balance × APR / 12. Payments are applied after monthly interest is added.
Minimum payment
The standard estimate uses the larger of your minimum floor or a percentage of balance plus monthly interest. Fixed mode keeps today's minimum payment estimate for future months until a balance is paid off.
Snowball and avalanche
Both strategies first cover required minimum payments. Extra payment budget goes to the target debt: lowest balance first for snowball, highest APR first for avalanche. Avalanche is promo-aware: if a 0% or low-promo balance is projected to survive past its promo end, the calculator ranks it by the regular post-promo APR before that deadline. When a debt is paid off, that freed payment rolls into the next target.
Balance transfer mechanics
Transferred balances add the transfer fee upfront. Promo APR applies until the promo period ends, then the regular APR applies to any remaining transfer balance. The transfer card is automatically filled from selected eligible debts in the selected payoff order: highest APR first for avalanche, lowest balance first for snowball. Card approval, limits, fees, and promo terms are not guaranteed.
Consolidation loan comparison
The consolidation comparison applies the entered loan amount to debts in the selected payoff method order: highest APR first for avalanche, lowest balance first for snowball. Origination fees are added to the loan principal, and the monthly payment uses the standard amortization formula. It is a modeled quote comparison, not loan approval or credit counseling.
Assumptions
- No new charges are added
- APR stays fixed except modeled balance transfer promos
- Payments are made monthly and on time
- Promotional offers and credit limits are estimates only
Last updated: May 2026
Frequently asked questions
What is the debt avalanche method?
The debt avalanche pays off debts in order of highest interest rate first, minimizing total interest paid. It is mathematically optimal but requires patience if the highest-rate debt has a large balance.
What is the debt snowball method?
The debt snowball pays off the smallest balance first regardless of interest rate. It provides quick psychological wins and momentum, though you may pay more total interest than the avalanche method.
How much faster can I pay off debt with extra payments?
Even small extra payments make a big difference. An extra $100/month on a $10,000 credit card at 20% APR can cut payoff time by years and save thousands in interest. Use this calculator to see your exact numbers.
Should I pay off debt or invest?
If your debt interest rate exceeds your expected investment return (typically ~7% for stock index funds), pay off debt first. High-rate credit card debt (18–25%) almost always beats investing. Low-rate mortgage or student debt (3–6%) may be worth investing alongside.
Does paying off debt improve my credit score?
Yes — paying down revolving debt (credit cards) reduces your credit utilization ratio, which is the second-largest factor in your score (30%). Paying off installment debt (loans) has a smaller credit score impact but reduces financial risk.
What is the debt-to-income ratio and why does it matter?
DTI is your total monthly debt payments divided by gross monthly income. Lenders use it to qualify you for mortgages and loans. Reducing your DTI by paying off debt can unlock better borrowing terms for major purchases.
Sources & assumptions
- Avalanche method minimizes total interest in this month-by-month model; snowball behavior context cites Amar et al. (2011) and related repayment-motivation research
- Credit card APR context: Federal Reserve G.19 Consumer Credit
- Credit card fee, promo, and market context: CFPB consumer credit card market reports
- Debt payoff simulation uses month-by-month balance calculation