Are there any limitations to using the Credit Card Payoff Calculator?

Credit card payoff calculators are quite accurate and useful tools to plan your debt repayment. However, there are a few limitations to keep in mind:

• They may not factor in changes in interest rates or fees in the future. The projections are based on current card terms.
• Payoff estimations may vary slightly from the actual payoff if you make any deviations from the suggested repayment plan.
• Calculators assume you will make on-time payments every month without any lapses. Missed or late payments will alter projections.
• There are assumptions made for estimating interest costs. Realised interest expenses may be slightly different.
• Adding multiple credit cards makes the projections more complex and subject to change frequently.

While payoff calculators are valuable, treat the results as close estimates rather than absolute. The key is sticking to the optimised payment plan as closely as possible.