Credit Card Payoff Calculator
See how long it takes to pay off a credit card balance — and how much interest you’ll save with extra payments. High APRs make the difference dramatic.
Inputs
Time to pay off
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Total interest paid
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Total paid (principal + interest)
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Interest as % of original
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Comparison: minimum payments
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About Credit Card Payoff Calculator
Why credit card interest is brutal
Card APRs (20-30%) compound monthly. A $5,000 balance at 22% APR accrues ~$92/month in interest. Minimum payments mostly cover interest, leaving principal barely touched.
Minimum payment trap
Most cards require 2% or $25, whichever is greater. At minimums on $5K, you’d pay for over 20 years and rack up roughly $7,000 in interest. Pay much more than the minimum whenever possible.
Strategies to escalate payoff
Balance transfer to a 0%-intro card (watch the transfer fee + intro length). Personal loan at lower APR. Snowball (smallest balance first for momentum) or avalanche (highest APR first for math optimization).