Multi-Card Payoff Prioritizer

What is the Multi-Card Payoff Prioritizer?

With several cards carrying balances, the order in which you pay them matters. Paying minimums on all and sending every extra rupee to the highest-interest card (the avalanche method) minimises the total interest.

List each card with its balance, rate and minimum due, and enter the total you can pay each month. This multiple credit card payoff planner tells you which card to target first, the order in which cards will be cleared, the time until you are card-debt-free and the interest and GST you will pay.

How to use the Multi-Card Payoff Prioritizer

1. Your Cards (one per line: name, balance, rate %, minimum due) (sample: HDFC Regalia, 90000, 43, 4500 SBI SimplyClick, 40000, 42, 2000 Amazon ICICI, 25000, 40, 1250)
2. Total You Can Pay Every Month (₹) (sample: 15,000)
3. Press Prioritise My Cards (results also refresh as you type). The result card shows the Pay This Card First, along with All cards cleared in, Total interest (before GST), GST on that interest (18%) and Extra above minimum dues each month.

Formula used

Extra payment = Monthly budget − Σ Minimum dues, sent to the highest-rate card

• Roll-over = when a card is cleared, its minimum due joins the extra payment

GST at 18% applies to card interest; it is shown separately.

Worked example

These are the sample values already filled in the calculator above, and the result it returns for them:

Tips for using the Multi-Card Payoff Prioritizer

• Never miss a minimum due on any card while you focus on one.
• Ask your bank to convert the highest-rate balance to EMI at a lower rate.
• Stop new spending on all cards until the plan is complete.