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Credit Card Payoff Calculator

See exactly how much extra payments save on interest — and how many months they shave off your debt. Compare minimum payments vs. accelerated payoff side-by-side.

🎉 Interest you'll save — — months faster
Without extra payments — — months
With extra payments — — months
Total you'll pay —
Principal —
Interest —
These calculators provide estimates for educational purposes only. Results are not guaranteed and should not be treated as financial advice. Always consult a qualified professional before making major financial decisions.

Why this matters

On a $5,000 balance at 20% APR: minimum payments keep you in debt for 20+ years and cost over $6,000 in interest. Adding just $100/month extra cuts that to 5 years and saves you $2,500+. The math is brutal, but the fix is simple.

Frequently Asked Questions

How long does it really take to pay off $5,000 in credit card debt?

At 20% APR with minimum payments (~3% of balance), roughly 20 years and $6,000+ in interest. With $300/month, 20 months and $770 in interest.

Should I pay off credit cards or build savings?

Do both. Build a $500–$1,000 starter emergency fund first, then throw every available dollar at the highest-APR card.

Does the debt snowball or avalanche save more money?

The avalanche always saves more mathematically. The snowball has higher completion rates. Choose based on whether you need quick wins to stay motivated.

Can I negotiate my credit card APR down?

Yes. Call, ask for a supervisor, mention you're considering a balance transfer to a 0% APR card. Issuers will often drop your rate by 3–5 percentage points.