Take control of your debt

Porte's True Debt Calculator shows you what your mortgage, student loan, car payment, or credit card debt is costing you, every month and over the life of the loan.


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How to use Porte's money management tool

With our debt payoff calculator, you can figure out how much money and time you can save if you increase the monthly payments you contribute toward your credit card debt or other debt - such as auto loans, federal student loans, or personal loans.

True Debt Calculator

Let’s see how fast you can pay off your debt and how you could save on interest! All you need is your balance owed, interest rate, minimum monthly payment, and any extra monthly payment amount.


Total Interest Savings


Total Interest Savings



Original Total Interest



New Total Cost


Original Total Cost


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Total Time Savings

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New Payoff Date


Original Payoff Date


Change Extra Payment


Psst ... keep this in mind:

True Debt Calculator results are only estimates based on the info you provide. The True Debt Calculator can help give you a sense of timing and monthly payments as you put together a repayment plan. Still, it doesn't consider factors - such as your credit card annual fee (if it has one), late payment fees, or any other fees you might incur. It also assumes you won't use the credit card to make any new purchases.

Ever wondered, "How could I impact my debt if I …"

block icon text card item icon Put away $25 a week?

Adds $100 a month to your existing loan payment which adds up to:

block icon text card item icon Give up daily coffee purchases?

At $4.25 per drink, adds $128 a month to your existing loan payment which adds up to:

block icon text card item icon Skipped one restaurant purchase a week?

At $50 per week, adds $200 a month to your existing loan payment which adds up to:


Strategies for paying down debt

When looking to pay off debt, a borrower should consider these strategies to help get out of credit card debt or other types of debt.

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Snowball method

With the snowball method, you start knocking out your lowest debt balance while making minimum monthly payments on everything else. After you pay off the lowest debt balance, you’ll put the money you were paying on it toward your next smallest debt.

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Avalanche method

With the avalanche method, you start knocking out your debt with the highest interest rate first, reducing the total amount of interest you pay on your debt over the long term.

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Credit Card Debt vs. Student Loan Debt: Which to Pay Off First?


Porte Team

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Porte is a mobile finance app, not a bank. Banking services provided by Pathward, National Association, Member FDIC
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The True Debt Calculator (debt payoff calculator) is a tool available on the Porte website and in the Porte app that helps anyone calculate how fast they could pay off their debt. The tool is built for loan and credit card debt and requires a few pieces of information.

The interest rate on a loan:

The interest rate is the amount you’ll pay as a borrower to use the line of credit expressed as a percentage. The interest rate on a loan is the amount the lender charges a borrower and is a percentage of the principal - the amount loaned.

The interest rate on a credit card:

On a credit card, the annual percentage rate (APR) is the interest rate expressed as a yearly rate. Entering an estimated APR in the calculator instead of an interest rate will help provide a more accurate calculation.

You can usually find your credit card APR by logging into your credit card account and searching for the terms and conditions.

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