Credit Card Payoff Calculator
See exactly when you'll be debt-free and how much interest you'll avoid by paying more than the minimum each month. The average credit card APR is around 22% — small extra payments make a big difference.
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Check your latest statement for the exact balance.
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Found on your statement. Average is ~22–27% for most cards.
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Min payment ≈ $170. Paying only the minimum costs the most in interest.
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Even $100–$150 extra can save months and hundreds in interest.
Payoff Time
3 yr 6 mo
Total Interest
$3,873
Payoff With Extra
2 yr 4 mo
1 yr 2 mo sooner
Interest Saved
$1,354
Balance Over Time
Why minimum payments are a trap
At 22.99% APR, paying only the minimum on $8,500 would take over 25 years and cost more in interest than the original balance. Every dollar above the minimum goes straight to reducing principal.