Credit Card Payoff Calculator
Find out exactly when you'll be debt-free and how much interest you'll pay. Enter your balance, APR, and monthly payment to see your payoff date and total cost — plus how much you save by paying more than the minimum.
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Frequently Asked Questions
Why does paying only the minimum take so long?
Minimum payments are typically 1–3% of the balance. On a $5,000 balance at 20% APR, a $100 minimum payment results in most of it going to interest, leaving the balance barely reduced — stretching payoff to 10+ years.
What is the avalanche vs snowball method?
Avalanche: pay the highest-interest card first (minimizes total interest paid). Snowball: pay the smallest balance first (provides motivational wins). Avalanche is mathematically optimal; snowball works better for those who need momentum.
How much does an extra $50/month help?
Significantly. On a $3,000 balance at 22% APR, making only minimum payments costs roughly $2,500 in interest over 8 years. Adding $50/month cuts interest to ~$700 and payoff time to under 3 years.