Calculate how long it will take to pay off your credit card and how much interest you'll pay. Compare payment strategies to save money.
Time to Payoff
2y 11m
Feb 2029
Total Interest
$1,871
Current balance and APR
Choose your payment approach
| Monthly Payment | Time to Payoff | Total Interest | Total Paid |
|---|---|---|---|
| $100 | 13y 11m | $11,694 | $16,694 |
| $150 | 4y 6m | $3,045 | $8,045 |
| $200 | 2y 11m | $1,871 | $6,871 |
| $300 | 1y 9m | $1,081 | $6,081 |
| $500 | 1y 0m | $604 | $5,604 |
| Minimum only | 50y 0m | $45,140 | $50,140 |
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $200 | $104 | $96 | $4,896 |
| 2 | $200 | $106 | $94 | $4,790 |
| 3 | $200 | $108 | $92 | $4,681 |
| 4 | $200 | $110 | $90 | $4,571 |
| 5 | $200 | $112 | $88 | $4,459 |
| 6 | $200 | $115 | $85 | $4,344 |
| 7 | $200 | $117 | $83 | $4,227 |
| 8 | $200 | $119 | $81 | $4,108 |
| 9 | $200 | $121 | $79 | $3,987 |
| 10 | $200 | $124 | $76 | $3,863 |
| 11 | $200 | $126 | $74 | $3,737 |
| 12 | $200 | $128 | $72 | $3,609 |
0.0% complete
$0
of $5,000
25% Paid Off
$1,250
50% Paid Off
$2,500
75% Paid Off
$3,750
Debt Free!
$5,000
$1,250 to 25% Paid Off
$1,250
Next milestone
25% Paid Off
$1,250
50% Paid Off
$2,500
75% Paid Off
$3,750
Debt Free!
$5,000
See how increasing your monthly payment affects payoff time
3 insights based on your inputs
Your 22.99% APR is above average. Consider calling your card issuer to negotiate a lower rate, or look into balance transfer options with 0% intro APR.
With $5,000 at 22.99% APR, a 0% balance transfer card could save you $1,310 or more if you pay it off during the intro period.
For multiple cards, use the avalanche method (highest APR first) to minimize interest, or snowball method (smallest balance first) for psychological wins.
Explore other tools that might help
Time to Payoff
2y 11m
Feb 2029
Total Interest
$1,871
To create a credit card payoff plan, enter your balance, APR, and monthly payment. Our calculator shows when you will be debt-free and total interest paid. Increasing payments significantly reduces both payoff time and interest.
Most cards set minimum payment as the greater of: a flat amount ($25-35) OR a percentage of balance (1-3%) OR interest + fees + $1. Paying only minimums can take 20+ years to pay off and cost 3x the original balance in interest.
Pay as much as possible above the minimum. Use the avalanche method (highest APR first) or snowball method (smallest balance first). Consider 0% balance transfer cards. Avoid new charges. Create a budget to free up extra payment money.
Higher APR means more of each payment goes to interest instead of principal. At 25% APR, paying $200/month on a $5,000 balance takes 32 months. At 15% APR, it takes 28 months. The difference is $700 in interest over that time.
Balance transfers can save significant interest if you qualify for 0% intro APR. Consider: transfer fee (3-5%), intro period length (12-21 months), post-intro APR, and whether you can pay off before intro ends. Set up autopay to avoid missing payments.
Generally pay off high-interest debt first (anything above 7-8%). Credit card rates of 20%+ far exceed savings returns. Exception: keep a small emergency fund ($1,000) to avoid new debt. After cards are paid, build full emergency fund.
Time to Payoff
2y 11m
Feb 2029
Total Interest
$1,871