A fixed payment accelerates over time
When the payment stays fixed, the interest portion usually falls as the balance declines, allowing more of the same payment to reduce principal.
Revolving balance payoff laboratory
Test a payment plan against interest, fees, purchases, and promotional terms
Choose a fixed payment, target payoff date, or declining minimum. Then model a promotional APR, balance-transfer fee, annual fee, continued purchases, extra payments, and the payoff schedule.
Plan with context
A revolving balance needs a payment rule, not just a one-time payment.
Credit-card costs depend on statement timing, daily interest, ongoing purchases, minimum formulas, fees, and changing APRs. This planner turns those mechanics into a visible payoff path.
Minimums can extend repayment
A percentage minimum shrinks with the balance. Even with a dollar floor, payoff can take much longer and cost more than maintaining a fixed payment.
Target dates create a requirement
The target strategy solves for a monthly amount that can pay the modeled balance within the selected number of months, including entered fees and purchases.
Promotional APR is temporary
A 0% or low-rate period can help only if payments make sufficient progress before the standard APR begins. The transfer fee is added immediately.
New purchases can defeat the plan
Monthly purchases add principal while interest and fees add cost. If additions approach or exceed the payment, the balance may fail to decline.
Issuer statements control
Actual charges depend on daily transactions, billing-cycle length, grace periods, variable-rate changes, and the issuer’s exact minimum-payment formula.
Included
Fixed, target, and minimum strategies; credit utilization; daily-rate interest approximation; promo APR; transfer and annual fees; new purchases; comparisons; charts; and ledgers.
Not included
Late or returned-payment fees, cash-advance balances, multiple APR buckets, grace-period restoration, variable index changes, rewards, delinquency, or issuer-specific allocation rules.
Use it well
Stop adding purchases when possible, compare the transfer fee with projected interest savings, automate more than the minimum, and verify the result against the issuer’s payoff quote.