How to use this calculator
This credit card payoff calculator shows how a monthly payment affects the time and interest required to pay off a balance. Credit card interest can compound quickly, so increasing the payment even modestly can shorten the payoff timeline and reduce total interest.
Example estimates
A $5,000 balance at 22.9% APR with a $200 monthly payment may take about 34 months to repay.
Raising the payment to $300 can shorten the payoff timeline and reduce interest by a meaningful amount.
Frequently asked questions
Why is credit card interest expensive?
Credit cards often have higher APRs than installment loans, and balances can continue accruing interest each month.
What if I keep using the card?
New purchases can extend the payoff timeline. This calculator assumes no additional charges.