Credit Card Payoff Calculator
See exactly when your credit card will be paid off. Enter your balance and monthly payment to calculate your payoff date, total interest, and how extra payments help.
47
Months to payoff
$1,984
Total interest
$6,984
Total paid
Frequently Asked Questions
How long does it take to pay off a credit card with minimum payments?+
A $5,000 balance at 22% APR with a $100 minimum payment takes over 9 years and costs $6,700 in interest. Paying $200/month cuts that to 2.5 years and saves $4,500 in interest.
What is a good credit card interest rate?+
The average credit card APR in the US is around 21-24%. Anything under 15% is considered good. If you carry a balance, a 0% balance transfer card can save significant money — but watch the fee and promotional period.
Should I pay off my credit card in full each month?+
Yes, if you can. Paying in full avoids all interest charges. If you can't pay in full, pay as much over the minimum as possible — every dollar above minimum goes directly toward reducing your principal.
Does paying off a credit card improve my credit score?+
Usually yes. Paying down your balance improves your credit utilization ratio, which is the second-most important factor in your credit score. Lower utilization = higher score.
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