Find out how long it takes to pay off your credit card and how much interest you'll pay.
See how long and how much it costs
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Always double-check important financial decisions with a qualified professional. This calculator provides estimates for guidance purposes. Results may vary based on your specific circumstances.
Credit card interest is brutal — the average APR sits around 23% in 2026, which means a $5,000 balance accrues roughly $96 in interest every single month if left untouched. Minimum payments are designed to keep you in debt for years.
The two most effective payoff strategies are the avalanche method (pay extra toward your highest-interest card first) and the snowball method (pay extra toward your smallest balance first for psychological wins). Avalanche saves more money mathematically; snowball tends to keep people motivated longer. Either beats doing nothing.
One often-overlooked option: a balance transfer to a 0% intro APR card. If you can pay off the balance within the promotional window (typically 12-21 months), you eliminate interest entirely — just watch for the transfer fee, usually 3-5% of the balance.
Use the calculator above to see exactly how much extra you need to pay monthly to hit your target payoff date. Even an extra $50/month can cut years off a credit card payoff and save hundreds in interest.