Credit Card Payoff Calculator
Calculate how long to pay off your credit card balance and how much interest you'll pay.
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Time to Pay Off
32 months
Total interest: $1,340
The Cost of Minimum Payments
On a $5,000 balance at 22% APR, making only the minimum payment (~$100/month) takes over 30 years to pay off and costs over $8,000 in interest. Paying $200/month clears it in under 3 years for about $1,300 in interest — a $6,700+ difference.
| Monthly Payment | $5,000 @ 22% APR | Total Interest |
|---|---|---|
| $100 (min) | ~30+ years | ~$8,000+ |
| $150 | ~4 years | ~$2,200 |
| $200 | ~2.7 years | ~$1,340 |
| $300 | ~1.6 years | ~$780 |
| $500 | ~1 year | ~$470 |
Disclaimer: Estimates only. Not financial advice.
Frequently Asked Questions
How long will it take to pay off my credit card?
Enter your balance, APR, and monthly payment. The calculator shows how many months until payoff and total interest paid. Paying more than the minimum dramatically reduces both.
What is the minimum payment on a credit card?
Minimums are typically 1–3% of the balance or $25–35, whichever is higher. Making only minimum payments can take decades to pay off and cost thousands in interest.
How much should I pay to clear debt fast?
Pay as much as you can afford above the minimum. Even $50–100 extra per month can cut years off your payoff and save hundreds in interest.
What is APR?
APR (Annual Percentage Rate) is the yearly cost of borrowing on your credit card. Typical credit card APRs range from 18–29%. Lower is better.