See how long it takes to pay off a credit card, or what to pay to clear it by a date.
Paid off in
2 years 11 months
Total interest $1,859.78
Last reviewed by the OnlineToolPro team
Works out how long a credit card balance takes to clear at a fixed monthly payment, or the payment needed to clear it in a set number of months — and how much interest you'll pay either way.
How it works
3 simple steps. No experience needed.
Good to know
APR is a yearly rate, but cards charge it monthly: 24% APR is about 2% a month on the balance. On a $5,000 balance that's roughly $100 of interest in the first month alone — which is why small payments barely move the balance.
FAQ
At 20–30% APR, a large share of each payment is interest. Paying even a little more each month cuts the time and interest a lot.
No — it assumes you stop using the card while you pay it off.
Step-by-step help for getting more out of the credit card payoff calculator.
Comparison
Avalanche saves the most interest; snowball keeps you going. A real comparison, when they're identical, and what matters more than either.
· 6 min readRead
Explainer
Credit card interest is charged daily on your average balance. How it works, how you lose the grace period, and why minimum payments barely help.
· 5 min readRead
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