Credit Card Payoff Calculator

Calculate how long it will take to pay off your credit card debt

Your Credit Card Details

$
$100 $50,000
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0% 30%
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$10 $2,000

Debt Payoff Strategies

  • Avalanche Method: Pay off debts with the highest interest rates first
  • Snowball Method: Pay off smallest balances first for psychological wins
  • Minimum Payments: Typically 1-4% of your balance plus interest

Payoff Results

You will be debt-free in

2 years 8 months

Total Payments

$6,422

Total Interest

$1,422

Interest Saved

$3,218

Payoff Date

Nov 2025

Payment Schedule

Year Balance Principal Interest
2023 $3,842 $1,158 $742
2024 $2,128 $1,714 $486
2025 $0 $2,128 $194

Tips to Pay Off Debt Faster

Increase Your Payments

Even a small increase in your monthly payment can significantly reduce your payoff time and interest paid.

Negotiate a Lower Rate

Call your credit card company and ask for a lower interest rate, especially if you have a good payment history.

Consider Balance Transfer

Transfer your balance to a card with a 0% introductory APR to save on interest while you pay down the principal.

Create a Budget

Track your spending to identify areas where you can cut back and allocate more money toward debt repayment.