See exactly when you'll be debt-free, how much interest you'll pay, and how extra payments can shorten your payoff timeline — plus a warning about the minimum payment trap.
| Metric | — | — | — | — | — |
|---|
| Month | Principal Paid | Interest Paid | Total Paid | Balance |
|---|
This calculator shows exactly how long it will take to pay off your credit card balance and how much interest you'll pay along the way. Beyond the basics, you can see how extra payments accelerate your payoff, understand the true cost of paying only the minimum, and compare different payment strategies side by side.
Credit card minimum payments are usually calculated as a small percentage of your balance (often 1-3%) plus that month's interest, with a floor of around $25. Because the payment shrinks as your balance shrinks, very little goes toward principal in the early years — which is why paying only the minimum on a typical balance can take 15-25+ years and cost more in interest than you originally borrowed. Use the Minimum Payment tab to see your own numbers.
Every extra dollar you pay above your required payment goes straight toward your principal, which lowers the interest charged every month after. On a typical $6,600 balance at a 25% APR, paying an extra $50 a month can save around $760 in interest and pay off the card about 9 months sooner. Use the Extra Monthly Payment slider to see your exact savings.
If you're juggling more than one card, the avalanche method — pay extra toward the card with the highest APR first, while covering minimums on the rest — minimizes total interest paid. The snowball method — pay extra toward the smallest balance first — builds momentum through quick wins, which some people find easier to stick with. Run each of your cards through this calculator individually to compare the two approaches with your real numbers.