Credit Card Payoff Calculator
Find out how long to pay off your credit card and how to minimize interest.
Months
Monthly Payment
Total Interest
Total Paid
| Strategy | Payment | Months | Total Interest |
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Frequently Asked Questions
Why does paying only the minimum take so long?▼
Minimum payments are typically 1–2% of your balance. Since the minimum shrinks as your balance decreases, most of each payment goes to interest rather than principal. This can result in decades of payments on a $5,000 balance.
What is a good APR for a credit card?▼
The average credit card APR is around 21–24%. Anything below 15% is considered good. If your rate is above 25%, consider balance transfer cards with 0% introductory APR to reduce interest while paying down debt.
What is the avalanche vs. snowball method?▼
Avalanche: pay minimums on all cards, put extra toward the highest-APR card. Saves the most interest. Snowball: pay the smallest balance first for psychological wins. Both work — choose what keeps you motivated.
How can I pay off credit card debt faster?▼
Pay more than the minimum every month. Even doubling your minimum payment can cut payoff time by 50%+. Consider a balance transfer to a 0% APR card, negotiate a lower rate, or consolidate into a personal loan at a lower rate.