Credit Card Payoff Calculator
Find your debt-free date. See how much interest you'll pay and how adding extra payments can accelerate your payoff and save you money.
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Enter your details and click Calculate.
Understanding Credit Card Debt
What is APR?
APR (Annual Percentage Rate) is the yearly interest rate charged on your balance. However, credit card interest is typically compounded daily or monthly. High APRs (often 20%+) mean a large portion of your minimum payment goes to interest rather than reducing your principal. Compare this to other debts with our Debt Snowball vs. Avalanche Calculator.
The "Extra Payment" Snowball
Paying more than the minimum is the most effective way to clear debt. Every dollar paid above the interest charge goes directly to reducing the principal balance.
- The lower your balance, the less interest you're charged next month.
- The less interest you're charged, the more of your *next* payment goes to principal.
This creates a "snowball effect" that accelerates your payoff. As the results show, even a small extra payment can cut years off your plan. Wondering what your hourly labor cost for this debt is? Check the "Time to Earn" Calculator.
What if My Payment is Too Low?
If your monthly payment is less than the interest accrued, you enter "negative amortization." Your balance grows despite making payments. This calculator warns you if you are in this danger zone.
💡 Free up cash flow?
See how small daily savings add up over time.