Credit Card Payoff Calculator
Calculate how long it will take to pay off your credit card debt
Your Credit Card Details
Debt Payoff Strategies
- Avalanche Method: Pay off debts with the highest interest rates first
- Snowball Method: Pay off smallest balances first for psychological wins
- Minimum Payments: Typically 1-4% of your balance plus interest
Payoff Results
You will be debt-free in
2 years 8 months
Total Payments
$6,422
Total Interest
$1,422
Interest Saved
$3,218
Payoff Date
Nov 2025
Payment Schedule
| Year | Balance | Principal | Interest |
|---|---|---|---|
| 2023 | $3,842 | $1,158 | $742 |
| 2024 | $2,128 | $1,714 | $486 |
| 2025 | $0 | $2,128 | $194 |
Tips to Pay Off Debt Faster
Increase Your Payments
Even a small increase in your monthly payment can significantly reduce your payoff time and interest paid.
Negotiate a Lower Rate
Call your credit card company and ask for a lower interest rate, especially if you have a good payment history.
Consider Balance Transfer
Transfer your balance to a card with a 0% introductory APR to save on interest while you pay down the principal.
Create a Budget
Track your spending to identify areas where you can cut back and allocate more money toward debt repayment.