Credit Card Payoff Calculator
See exactly when you will be debt-free and how much interest you will pay at any monthly payment amount. See how adding just $50/month can cut years off your payoff.
Over the life of this loan, you pay $19,443 in interest.
That's the cost of borrowing on top of what you actually got.
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Coach Insight
The average credit card APR is over 21%. On a $5,000 balance making only minimum payments, you'd pay over $6,000 in interest and take 14+ years to pay it off. Every extra dollar you pay now saves multiple dollars in interest.
Frequently Asked Questions
Everything you need to know.
Related Calculators
Why This Matters
The average credit card APR is over 21%. On a $5,000 balance making only minimum payments, you'd pay over $6,000 in interest and take 14+ years to pay it off. Every extra dollar you pay now saves multiple dollars in interest.
How to Use It
- 1Enter your credit card balance
- 2Enter the APR from your statement
- 3Set your monthly payment
- 4See payoff date and total interest — then try increasing the payment
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