💳 Credit & Debt Calculator
Compare debt payoff strategies and optimize your path to financial freedom
Current total minimum payments: $530
Debt Avalanche Method
Pay minimum amounts on all debts, then put any extra money toward the debt with the highest interest rate. Mathematically optimal and saves the most money over time.
Debt Snowball Method
Pay minimums on all debts, then focus extra payments on the smallest balance first. Provides psychological wins and momentum, which can help with motivation.
Credit Score Factors
Payment History (35%): Most important factor. Always pay at least the minimum on time.
Credit Utilization (30%): Keep total balances below 30% of limits, ideally under 10%.
Length of Credit History (15%): Keep old accounts open to maintain average account age.
Credit Mix (10%): Having different types of credit can help your score.
New Credit (10%): Limit new account applications to avoid multiple hard inquiries.