Roll-Down Your Credit Card Debt!
The credit card roll-down applies two simple principles to paying off your credit card debt.
- Pay off your highest interest rate first.
- 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. Click the "View Report" button for a detailed look at the results.
This calculator is intended for informational purposes only and is not intended to provide today’s actual rates or terms. Your actual results may vary. Please see a banking professional for your personal finance needs.