Best Apps to Payoff Credit Card Debt
- UpdatedSep 18, 2024
- There are many free and affordable apps to track credit card debt and manage payments.
- You can choose your payment strategy, like debt snowball or debt avalanche.
- Some apps offer extra features like a credit line or prepaid debit card.
Sometimes, one of the hardest things about paying off debt is getting organized. Fortunately, a variety of debt payoff apps are designed to help.
Maybe you’d like the convenience of seeing all your accounts in one place. Perhaps you want to see how different payment approaches would affect your total debt cost and repayment time. Or maybe you’d prefer to automate payments and savings to keep your plans on track.
If you could benefit from that kind of help organizing your debts, check out the debt payoff apps below.
Why Use an App to Pay Off Credit Card Debt?
An app can help you organize and manage your debt payments. Apps can offer convenience, help with planning, and automation.
Here are some of the ways debt payment planners can help you take control of your finances:
Stay on track of your debt. Don’t get bogged down in the paperwork of tracking multiple accounts. A debt payoff app can help you see all your balances and payments in one place.
Select the right payoff plan. There are different theories about the best way to pay off debt. Some people swear by the debt snowball method. Others point out that the debt avalanche approach could potentially get you out of debt sooner. Some debt payoff apps have calculators that let you see how different approaches would affect your total cost and time till repayment.
Automate payments. Apps to pay off credit card debt can help you manage links between bank accounts and creditors, which helps keep your payments on time. That’s huge, because payment history is the No. 1 factor that affects your credit score.
Track your progress. Many apps to pay off credit card debt let you visualize how your debt will be paid down over time. Being able to see how far you’ve come along the road to being debt-free should help keep you motivated.
6 Top Apps to Pay Off Credit Card Debt
These apps to pay off credit card debt have all earned average scores above 4 out of 5 on Google Play and the Apple App Store.
They’re listed here in alphabetical order. All these apps are free to install. Some have costs for premium features or ongoing subscriptions.
Achieve GOOD™ app: Get Out Of Debt faster
Key features
See all of your accounts in one place
Test different payment approaches
Automatic budgeting
Debt consolidation and resolution options
Pros
Tracking spending helps you adjust your budget
Payments view helps you spot forgotten subscriptions
All features are free
Cons
Customization may be limited
Can’t pay your bills through the app
Best for
If you want a comprehensive budgeting and repayment system, the Achieve GOOD app could make your debt payoff budget easier to manage in the long run.
Also, if you’re interested in debt payoff guidance, the app takes a bird’s eye look at your whole financial picture to show you what strategies might be appropriate.
User ratings
Google Play: 4.3
Apple App Store: 4.7
Overall average: 4.5
Bright: Crush Your Credit Card Debt
Key features
Tracks debt balances in one place
AI-powered
Debt consolidation option
Pros
Pay debts from within the app
AI-powered personalized money management plan
Hands-off debt payoff strategy
Cons
Automatic account withdrawals and debt payments
Hefty membership fees
Best for
If you can afford your debt and want an AI solution to manage your budget and choose how and when to pay down debt, Bright is an option to explore.
User ratings
Google Play: 4.7
Apple App Store: 4.8
Overall average: 4.75
Debt Payoff Planner
Key features
Shows the interest rates on your debts
Test results of different payment methods
Ease of use
Pros
Organize accounts by different credit types
Test different repayment scenarios
Easy set-up
Cons
Can’t pay your bills through the app
Can’t track credit accounts with deferred interest
Must manage manually (doesn’t link to accounts)
Best for
If you value easy set-up and don’t mind popping in to record your payments, Debt Payoff Planner is clear, easy to use, and could help you stay focused.
User ratings
Google Play: 4.5
Apple App Store: 4.7
Overall average: 4.6
Rocket Money
Key features
Track subscriptions
Optional debt negotiation
All accounts on one dashboard
Pros
Easier to cancel services
Helps you anticipate cash flow needs
Suggestions for improving money management
Cons
Can’t pay your bills through the app
Pre-set budget categories and limits
Most features are premium and not free
Best for
If your subscriptions are out of control, Rocket Money could help you squash them within a few weeks. But it’s not designed with debt payoff in mind.
User ratings
Google Play: 4.3
Apple App Store: 4.3
Overall average: 4.3
| App Name | Best for | Pros | Cons | Average User Rating |
|---|---|---|---|---|
| Achieve GOOD | Comprehensive budgeting and debt payoff system. | Free Track spending Track subscriptions Optional debt consolidation and debt resolution | Limited customization Can’t pay bills through the app | 4.5 |
| Bright | AI solution to manage budget and debt payoff. | Pay debts from the app AI-powered strategy Hands-off debt payoff strategy | Automatic account withdrawals and debt payments Hefty membership fees | 4.75 |
| Debt Payoff Planner | Easy setup and use. Laser-focus on debt. | Organize accounts by types Test repayment scenarios Easy set-up | Can’t pay bills through the app Must manage manually | 4.6 |
| Rocket Money | Getting rid of unwanted subscriptions | Easier to cancel services Helps you anticipate cash flow needs Suggestions for improving money management | Can’t pay your bills through the app Pre-set budget categories and limits Most features are premium and not free | 4.3 |
Tips for Choosing the Right Credit Card Debt Payoff App
Here are some things to think about when choosing a credit card debt payoff app:
Consider your financial goals. Is your goal to simplify your debt payments? Or maybe you want to reduce debt as quickly as possible. Perhaps you want to lower your borrowing costs. If you start by figuring out what you want to do, it will help you choose the right tool.
Check compatibility. Make sure the debt payment app works with the type of debt accounts you have, and that the app works with your device.
Read reviews. Random user comments should be taken with a grain of salt, but expert reviews can be revealing. These can alert you to an app’s particular quirks.
Consider costs. Most debt payoff planner apps are free to download, but may include only the most basic functions. You may have to pay extra to take advantage of additional features.
Test the app. Take advantage of free trials, and invest some time into setting up each app you want to consider. Choosing an app you love could make it easier to manage your debt payoff strategy.
Remember, paying off credit card debt takes a while. Your debt payoff planner should be like a debt payoff buddy, committed for the long haul.
Debt relief stats and trends
We looked at a sample of data from Freedom Debt Relief of people seeking debt relief during August 2024. The data uncovers various trends and statistics about people seeking debt help.
Credit card tradelines and debt relief
Ever wondered how many credit card accounts people have before seeking debt relief?
In August 2024, people seeking debt relief had some interesting trends in their credit card tradelines:
The average number of open tradelines was 14.
The average number of total tradelines was 24.
The average number of credit card tradelines was 7.
The average balance of credit card tradelines was $15,681.
Having many credit card accounts can complicate financial management. Especially when balances are high. If you’re feeling overwhelmed by the number of credit cards and the debt on them, know that you’re not alone. Seeking help can simplify your finances and put you on the path to recovery.
Collection accounts balances – average debt by selected states.
Collection debt is one example of consumers struggling to pay their bills. According to 2023, data from the Urban Institute, 26% of people had a debt in collection.
In August 2024, 28% of debt relief seekers had a collection balance. The average amount of open collection account debt was $3,092.
Here is a quick look at the top five states by average collection debt balance.
| State | % with collection balance | Avg. collection balance |
|---|---|---|
| Nevada | 29 | $5,116 |
| Utah | 23 | $4,223 |
| Montana | 31 | $4,194 |
| Maine | 30 | $4,141 |
| Deleware | 28 | $3,911 |
The statistics are based on all debt relief seekers with a collection account balance over $0.
If you’re facing similar challenges, remember you’re not alone. Seeking help is a good first step to managing your debt.
Tackle Financial Challenges
Don’t let debt overwhelm you. Learn more about debt relief options. They can help you tackle your financial challenges. This is true whether you have high credit card balances or many tradelines. Start your path to recovery with the first step.
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How can I get rid of credit card debt for free?
Getting out of debt isn’t free. You might be able to get rid of your credit card debt for less than what you owe if you:
File for bankruptcy. With Chapter 7, you may not have to pay your credit card debt, but you might lose some assets. Chapter 13 can get you reduced fees and a repayment plan with more time to pay. All bankruptcies have court fees and most have attorney fees.
Negotiate a debt settlement with your lenders to pay a lower amount than you owe.
Which app rounds up purchases to pay off credit card debt?
Qoins. When you make purchases with the Qoins prepaid debit card, it can round up your transactions to the nearest dollar and apply the difference to your credit card debt. For example, if you buy something for $30.65, Qoins can round it up to $31 and use $0.35 to pay your debt. They send out the payments once a month.
Are there credit card debt forgiveness programs?
If you’re struggling to repay your credit card debts, here are some options to explore:
Debt settlement or debt resolution: negotiate with your creditors to pay less than your outstanding balance. You can negotiate on your own or get help from a reputable organization.
Debt management plan: work with a credit counseling agency to create a repayment plan. They can negotiate a lower interest rate with your credit card companies.
Bankruptcy: this might help you get a payment plan or get rid of credit card debt. But you may have to give up assets.
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