How Long Until Your Credit Card Is Paid Off?
Enter your balance, APR, and monthly payment to see exactly how many months it takes to clear your debt and the total interest you will pay.
Paying just $100 more per month can cut your payoff time by years.
$6,501
average credit card debt per US household carrying a balance in 2024
22%
average credit card APR in the US — a record high as of 2024
9 yrs
how long it takes to pay off $5,000 at 22% APR making only minimum payments
Get out of credit card debt faster
Minimum payments are a trap
Credit card minimum payments are designed to keep you in debt for as long as possible. A $5,000 balance at 22% APR on minimum payments can take over a decade to clear and cost more in interest than the original balance.
Extra payments have outsized impact
Increasing your monthly payment from $150 to $250 on a $5,000 balance at 22% cuts your payoff time from 5 years to 2 years and saves over $2,500 in interest. Small increases compound dramatically.
Balance transfers can accelerate payoff
A 0% APR balance transfer card can halt interest charges for 12–21 months. Every payment goes directly to principal. Even with a 3–5% transfer fee, it is usually significantly cheaper than staying at 20%+ APR.
How the Credit Card Payoff Calculator Works
Enter your current balance, annual APR, and the fixed monthly payment you will make. The calculator applies monthly interest (APR ÷ 12) to the remaining balance each month, subtracts your payment, and repeats until the balance reaches zero — counting months and total interest.
Try increasing the payment slider to see how dramatically extra payments reduce both the payoff period and total interest. Even small increases have a significant impact when compounded over years.