Credit Card Payoff Calculator
Enter your balance, APR, and monthly payment to see exactly when you'll be debt-free and how much interest you'll pay. Our AI compares your plan to minimum payments so you can see what's really at stake.
2y 10mo
$1,750
$6,750
vs. Minimum Payment (~$93/mo)
Minimum payments would take 11 years and cost $8,678 in interest. Your plan saves you $6,928.
At 22% APR, this is high-interest debt. Prioritize paying this off before investing. You'll be debt-free in 34 months. Stay consistent — don't miss a payment.
Lower Your Interest Rate With a Balance Transfer
Move high-interest credit card debt to a 0% APR card. Stop paying interest and pay down principal faster.
Compare Balance Transfer CardsWhy Minimum Payments Are a Trap
Credit card issuers set minimum payments low on purpose. A typical minimum is just 1-2% of your balance — barely covering the interest. On a $5,000 balance at 22% APR, paying only minimums could take over 25 years and cost more in interest than the original debt. The calculator above shows you exactly what that difference looks like in your situation.
The Fastest Way to Pay Off Credit Card Debt
The most effective strategy is to pick one method (Snowball or Avalanche) and stick with it. The Snowball method attacks the smallest balance first for psychological wins. The Avalanche method targets the highest APR first to minimize total interest. Either beats minimum payments by years and thousands of dollars.
Balance Transfers: Cut Your Interest Rate to 0%
If your credit score is 670+, you may qualify for a 0% APR balance transfer card. These cards offer 0% interest for 12-21 months, meaning every dollar you pay goes straight to principal. A $5,000 balance paid at $300/month with 0% APR is paid off in 17 months with $0 in interest — compared to $1,800+ in interest at 22% APR.
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