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Credit Card Payoff Calculator

See how long it takes to pay off your credit card

Credit Card Details

Additional charges added each month (set to 0 to pay down existing balance only)

Payment Strategy

Current minimum payment: $100

Common Scenarios

Payoff Results

Time to Pay Off4 years
Total Interest Paid$2,072
Total Amount Paid$7,072
Average Monthly Payment$147
Fixed Payment Benefits
vs. Minimum Payments:
Interest Saved:$11,699
Time Saved:29 years, 3 months

Payment Breakdown

Starting Balance$5,000
Total Interest$2,072
Grand Total$7,072

Interest Rate Impact

12.0% APR
4 years
$1,112 interest
15.0% APR
4 years
$1,509 interest
18.0% APR
4 years
$1,984 interest
21.0% APR
5 years
$2,570 interest
24.0% APR
5 years
$3,322 interest
27.0% APR
6 years
$4,346 interest

Payment Timeline

Month 6
$4,545 remaining
$150 payment
Month 12
$4,047 remaining
$150 payment
Month 18
$3,501 remaining
$150 payment
Month 24
$2,902 remaining
$150 payment
Month 30
$2,245 remaining
$150 payment
Month 36
$1,526 remaining
$150 payment
Month 42
$737 remaining
$150 payment
Month 48
$0 remaining
$22 payment

Credit Card Payoff Tips

Stop New Charges

The most important step is to stop adding new charges to your card. Consider using cash or a debit card to avoid increasing your debt while you're trying to pay it off.

Pay More Than Minimum

Minimum payments barely cover interest charges, keeping you in debt for decades. Even paying an extra $25-50 per month can cut years off your payoff time and save thousands in interest.

Consider Balance Transfer

If you have good credit, a 0% APR balance transfer card can pause interest charges for 12-21 months. Use this time to aggressively pay down the principal, but avoid adding new debt.