Credit Card Payoff Calculator
Calculate how long it will take to pay off your credit card debt and see how extra payments can save you thousands in interest charges. Take control of your financial future.
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Financial Disclaimer
These calculations are estimates for educational purposes only. Actual payoff times and costs may vary based on interest rate changes, fees, additional purchases, payment timing, and credit card terms. This tool is not a substitute for professional financial advice. Consult qualified financial advisors for personalized debt management strategies.
Minimum Payments Only
8y 4m
Time to pay off
Total Interest
$4,978
Total Paid
$9,978
Quick Payoff Options
Pay off in 2 years
$252/month
$152 extra per month
Pay off in 3 years
$183/month
$83 extra per month
Pay off in 5 years
$130/month
$30 extra per month
Debt Elimination Strategies
Debt Avalanche Method
- • Pay minimums on all cards
- • Put extra money toward highest interest rate
- • Mathematically optimal (saves most money)
- • Best for disciplined payers
- • Focus on long-term savings
Debt Snowball Method
- • Pay minimums on all cards
- • Put extra money toward smallest balance
- • Provides quick psychological wins
- • Builds momentum and motivation
- • Best for maintaining consistency
Credit Card Debt Tips
Stop Adding Debt
- • Cut up credit cards or freeze them
- • Use cash or debit for purchases
- • Create and stick to a budget
- • Build emergency fund to avoid new debt
- • Find ways to increase income
Optimize Your Strategy
- • Consider balance transfer to lower rate
- • Negotiate with credit card companies
- • Use windfalls (tax refunds, bonuses) for debt
- • Track progress to stay motivated
- • Celebrate milestones along the way