The new and free Credit Card Payoff Calculator is the best tool to help you analyze what you can afford and then use that knowledge to pay off your credit card debt as quickly and efficiently as possible. All you will need to do is enter the information listed in each section of the template and this document will calculate everything you need, like the interest you will need to pay, the total amounts for both interest and cost, and the interest paid on any borrowed cash as well. In addition to all these helpful tools, you will also receive graphs that illustrate your progress through the course of the year. If you’re ready to finally cut down your debt, then download the free template today.
Using the Credit Card Payoff Calculator
Start by clicking the link at the bottom of this page to download the free Credit Card Payoff Calculator file to your computer. The next step will be to enter all the information listed in the first green table of the sheet, “Credit Card Entries.”
In this section, you will see credit card limits, current balance, interest rates, etc. Just make sure to fill in these sections with your personal information.
In the blue table below, you will see that all the items you entered in the above table will be calculated and presented in the “Results” table. Here, you will see the amount of interest you end up paying, the number of months to pay it off, and much more.
You can use this information to adjust your setup until you find something that works for your specific financial information.
To the right of the page, there is a helpful graph that shows you paying off the debt over time with the information you entered earlier and at the very bottom, you will notice a detailed list of your payments each and every month until it’s finally paid off.
Using the Credit Card Payoff Calculator you can find the payment plan that works best for you.