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What is the Credit Card Payoff?
A credit card payoff calculator shows you how long it will take to pay off your credit card balance based on your monthly payment amount. It also calculates the total interest you will pay.
How to Use This Calculator
1
Enter your current credit card balance.
2
Input the card's annual interest rate (APR).
3
Specify how much you can pay each month.
4
Click 'Calculate' to see the number of months to be debt-free.
Example Calculation
$5,000 balance at 18% APR paying $200/month
If you owe $5,000 on a credit card with an 18% APR and pay $200 per month, it will take approximately 32 months to pay off the balance. You will pay about $1,300 in total interest.
Frequently Asked Questions
Pro Tips
- Stop using the card for new purchases while paying it off.
- Look for 0% APR balance transfer offers.
- Pay more than the minimum due whenever possible.