🧮 Calculators
Credit Card Payoff Calculator
See how long it takes to eliminate credit card debt and how much interest you'll pay. Try fixed monthly payment or a target payoff date.
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Payoff Summary
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How it works
01
Enter Balance
Current credit card balance and APR from your statement.
02
Pick Mode
Fixed monthly payment, or set a target payoff date.
03
See Timeline
Months to payoff, total interest paid, and total cost.
Frequently asked questions
Why is credit card debt so expensive?
APRs of 18-30% compound monthly, meaning interest is charged on unpaid interest. Paying only the minimum can take 15+ years and double the total cost.
What is the best strategy to pay off cards fast?
Two main approaches: Avalanche (pay off highest APR first — saves the most money) or Snowball (pay off smallest balance first — quick psychological wins). Both beat only paying minimums.
Should I use a balance transfer card?
If you have good credit, a 0% intro APR balance transfer can pause interest for 12-21 months. But watch for transfer fees (usually 3-5%) and pay off before the intro period ends.
Is minimum payment enough?
Almost never. Minimums are designed to keep you in debt for decades. Always pay more than minimum. Even doubling minimum can cut payoff time in half.
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