Credit Card Payoff Calculator
See how long a credit card takes to pay off and how much extra payments accelerate it.
Interest saved with extra payments $977.84
Payoff time 25 months · 2y 1m
Base payment $305.52
Total interest $2,021.01
| Year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | $3,439 | $1,427 | $4,561 |
| 2 | $4,277 | $589 | $283 |
| 3 | $283 | $5 | $0 |
How it's calculated
Credit card interest compounds on your balance monthly. Paying more than the minimum attacks the principal directly and can cut months of interest.
Assumptions
- Treats the balance like a fixed loan paid over the target term, plus any extra payment.
- Assumes no new charges are added to the card.
Last updated: 2026-08-07
These assumptions follow our general methodology.
Frequently asked questions
Why is credit card debt so expensive?
APRs are often 20% or more, far above mortgage or student loan rates, so interest piles up quickly if you only pay the minimum.