Why does minimum payment take so long?

As the balance shrinks, minimum payments drop too, stretching payoff over many years and maximizing interest paid to the issuer.

How much can extra payments save?

Even $50–100 extra per month can cut years off payoff and save hundreds or thousands in interest depending on APR and balance.

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Credit Card Payoff Calculator

Calculate how long it takes to pay off credit card debt. Compare minimum payments vs. a fixed plan and see total interest, debt-free date, and savings.

Card Details

Enter your balance, APR, and planned monthly payment.

Current Balance

APR

Fixed Payment / mo

Min Payment %

Min Payment Floor

This month's minimum: $170.00 · Monthly interest: $162.85

Payoff Plan

Fixed payment vs. paying only the minimum.

Steady Plan

Fixed Plan Interest$5,383

Minimum-Only Interest—

Interest saved vs. minimum$0

Debt-Free (Fixed)Mar 2031

Debt-Free (Minimum)Never

Pay Off InAt your fixed monthly payment

4 yr 8 mo

How It Works

Simulates credit card balance paydown month by month. Minimum payments typically cover interest plus a small principal slice; fixed payments pay a set amount until the balance reaches zero. Total interest = sum of monthly interest charges across the payoff timeline.

Frequently Asked Questions

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DisclaimerThe results provided by this calculator are estimates and for informational purposes only. They do not constitute financial, legal, or professional advice. Please consult with a qualified professional for your specific needs.