See exactly how long to pay off your credit card debt and how much interest it will cost. Find out how extra payments can save you thousands.
Credit card debt is expensive because of high APRs (often 20–30%) that compound monthly. This credit card payoff calculator shows your exact payoff timeline and total interest cost. Use it to see how increasing your monthly payment by even $50–$100 can cut months or years off your payoff date and save hundreds in interest. The month-by-month schedule shows exactly how your balance decreases over time. All calculations run in your browser — your data never leaves your device.
The time to pay off a credit card depends on your balance, APR, and monthly payment. Use the formula: months = -log(1 - balance × monthly rate / payment) / log(1 + monthly rate). Our credit card payoff calculator does this instantly. Making only minimum payments on a $5,000 balance at 22% APR can take over 10 years.
Credit card interest is expensive. A $5,000 balance at 22.99% APR with a $150/month payment costs approximately $2,000–$2,500 in interest over the payoff period. The exact amount depends on your payment size. Our calculator shows your total interest paid for any payment amount.
Two popular strategies: (1) Debt Avalanche — pay minimums on all cards, put extra money toward the highest APR card first. This saves the most in total interest. (2) Debt Snowball — pay minimums on all cards, attack the lowest balance first. This provides quick wins and psychological motivation. The avalanche saves more money; the snowball may be more sustainable.
Credit card minimum payments are typically 1–3% of the outstanding balance or a flat minimum (often $25–35), whichever is greater. Making only minimum payments means most of your payment goes to interest rather than principal, resulting in very slow payoff and enormous total interest charges over time.
Credit card APR (Annual Percentage Rate) is the yearly interest rate applied to your outstanding balance. It is divided by 12 to get the monthly rate. If you carry a $1,000 balance at 22.99% APR, you pay $1,000 × (22.99/100/12) ≈ $19.16 in interest that month. Unlike loans, credit card interest compounds monthly on whatever balance you carry.