Credit Card Payoff Calculator
Find out how long it will take to pay off your credit card balance — and how much that debt is really costing you. Reviewed for clarity and functionality. This tool has not been reviewed by a licensed financial professional.
Your Credit Card Payoff Analysis
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Why Credit Card Debt Is Expensive
The average credit card APR in the U.S. exceeded 22% in mid-2025 (Federal Reserve data). At that rate, a $5,000 balance with a $200/month payment takes 35 months (2 years, 11 months) to pay off and costs approximately $1,871 in interest. By increasing your payment to $300/month, the same balance clears in 21 months (1 year, 9 months) with approximately $1,081 in interest.
The Minimum Payment Trap
If you only make minimum payments (typically 2-3% of the balance), a $5,000 balance could take over 15 years to pay off — costing far more in interest than the original debt.