Salary Calculator

Credit Card Payoff Calculator

How much of my salary do I need to put toward my credit card debt?

Utilize the Credit Card Payoff Calculator to get an idea of how much of your salary should go toward your credit card balance.

1) Input the current balance across all of your credit cards in the calculator below.

2) Next, enter in the interest rate your credit card company charges you.

3) Finally, enter the portion of your monthly salary that you want to use to pay off the debt.

4) Or instead of a payment amount, input how long you want it to take until you are debt-free.

5) Click "Calculate" and it will return either the number of months or the monthly payment.

Credit Card Calculator
We've provided an example of how to use the calculator to determine your credit card payoff.

See the screenshot to the right.

With a credit card balance of $500 at a 14.95% interest rate, it will take 19 months to pay off the balance if $30 of your monthly salary is put towards the credit card debt. Credit Card Payoff Calculator example