Credit Card Payoff.
See exactly when your credit card debt disappears and how much interest you will pay. Adjust your monthly payment to find the fastest debt-free date.
Estimated minimum payment: $100.00
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The Minimum Payment Trap
Credit card minimum payments are designed to maximize the interest you pay. A $5,000 balance at 22% APR takes over 20 years to clear on minimum payments. Paying just $50 more per month can cut that to under 5 years.
Amortization Formula
The payoff timeline uses the standard loan amortization formula: n = -log(1 - (r×B)/P) / log(1+r), where B is the balance, r is the monthly rate, and P is the monthly payment.
Understanding Credit Card Interest Methodology.
The Calculation Branch
Industrial Standards.
The calculator iterates month by month, adding interest to the remaining balance and subtracting your payment. This gives exact results including the final partial payment, rather than approximating with a formula.
In-Depth Analysis & Reference Data
The debt avalanche strategy — paying off the highest APR card first while making minimums on others — minimizes total interest paid. The debt snowball — paying the lowest balance first — provides psychological wins that help maintain motivation. This calculator helps you model either approach by testing different payment amounts against a single card.
Registry Questions & FAQ.
What is a typical credit card APR in 2025?
The average credit card APR in the US in 2025 is approximately 21–22%. Premium rewards cards often carry higher rates (25–29%). Store cards can reach 29–31%. Low-rate cards for people with excellent credit can be as low as 12–15%.
Should I do a balance transfer?
A 0% intro APR balance transfer card can save significant interest if you can pay off the balance before the promotional period ends (typically 12–21 months). Balance transfer fees are usually 3–5% of the transferred amount. This calculator can help you compare: enter 0% APR to see the interest-free scenario.
Estimates for planning. Always confirm against an authoritative source.