Credit Card Payoff Calculator

Find out how long it will take to pay off your credit card and how much interest you'll pay.

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Credit Card Details

Current Balance

Interest Rate (APR)

Payment Strategy

Monthly Payment

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Suggested Strategy

Paying $300.00/month would clear your balance in 1y 9m and save you $784 in interest.

Time to Payoff

2 years, 11 months

Total Interest $1,860Total Paid $6,860

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Balance vs Interest

Monthly$6,860

Original Balance73%

Total Interest27%

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Payoff Summary

Balance$5,000

APR22.90%

Monthly Payment$200.00

Months to Payoff35

Total Interest$1,860

Total Paid$6,860

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Interest Paid Per Year

Where your money really goes

$1,005

$649

$206

💡 Insight: At 22.9% APR, you pay $95 in interest in the first month alone. Paying more than the minimum is the single best way to escape credit card debt.

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Compare Payment Strategies

Minimum Payment

100y 0m

Interest: $69,460

Your Fixed Payment

2y 11m

Interest: $1,860

Suggested ($300.00/mo)

1y 9m

Interest: $1,076

About this calculator

Find out exactly how long it will take to pay off your credit card balance — and how much interest you'll pay. Our credit card payoff calculator compares your current payment against higher fixed payments so you can see the true cost of carrying a balance. Because credit cards charge 20%+ APR on average in the US, paying only the minimum can keep you in debt for decades. Use this calculator to find the payment amount that clears your balance fastest while saving you the most money.

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