How to Roll Down Your Credit Card Debt

This credit card roll-down calculator helps you paying off your credit card debt by applying two simple concepts.
  1. Pay down your highest interest rate card first.
  2. Once this process pays off a credit card balance in full, apply the same monthly payment to the credit card balance with the next highest interest rate.
To see how you can apply this to your situation, enter your credit card balances below. You can also experiment by adding an additional “Roll-down amount” to see how much faster you can pay off the debt by simply increasing your monthly payment by a set amount. The calculator will then automatically apply your additional monthly payment to your credit card with the highest interest rate. When that credit card is paid off in full, the card with the next highest interest rate will then be paid down. This will continue until you have rolled through all of your credit cards and your debt is fully paid off. Some people call this the “Debt Avalanche Method” of paying down debt. Click the "View Report" button for a detailed summary of the results.

Credit Counselling Society

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide financial advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized guidance from qualified professionals regarding all personal finance issues. Feel free to speak with one of our credit counsellors if you would like help figuring out how to deal with your credit card debt. Call us at 1-888-527-8999.