Financial Calculators
Credit Card Payoff Calculator
Find out exactly when you'll be debt-free and how much interest you'll pay. See how minimum payments compare to paying a fixed amount each month.
Card Details
Must exceed minimum interest charge
Minimum Payment Settings(optional)
Payoff Charts
Payoff Time
3 yr
Paid off by October 2029
Total Interest
$2,135
at fixed payment
Total Paid
$7,135
Interest Saved
$211,181
vs. minimum only
Months Saved
97 yr
vs. minimum only
Minimum Payment Comparison
Why is paying just the minimum so costly?
Credit card minimum payments are typically 1–3% of your balance. Most of that payment goes to interest, leaving only a tiny amount reducing your principal. On a $5,000 balance at 24.99% APR, paying the minimum only could take over 20 years and cost thousands in interest.
How much extra should I pay?
Even an extra $50–$100/month can dramatically reduce payoff time and interest. Use the calculator to find the payment amount that achieves your target payoff date.
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