Enter your balance, APR, and monthly payment to see exactly when you'll be debt-free — and how much the minimum payment trap could cost you.
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Credit card interest is charged on your outstanding balance, so the longer a balance lingers, the more it costs. This calculator estimates how long it'll take to clear your card — and the total interest — based on your balance, APR, and monthly payment.
The big lesson is the minimum-payment trap: paying only the minimum can stretch a balance over many years and multiply what you repay. Paying even a little more each month dramatically shortens the timeline and cuts the interest.
Estimates only, and not financial advice. Figures assume a fixed interest rate — always check your loan or card agreement for the exact terms.
Often many years — sometimes over a decade — because minimum payments are mostly interest and barely touch the balance. Paying a fixed higher amount each month clears it far faster.
As much as you comfortably can above the minimum. Even a modest fixed monthly amount, kept steady as the balance falls, slashes both the payoff time and total interest compared to paying the minimum.
Hugely. Anything above the minimum goes mostly to principal, which reduces the interest charged next month — so each extra dollar saves more than its face value over time.
Credit card APRs are usually far higher than savings rates, so clearing the card normally wins financially. Many people keep a small emergency buffer and throw everything else at the card.