Payments apply to interest first, then principal. Minimum payments extend payoff dramatically.
Current card balance and annual rate.
Fixed amount you plan to pay each month.
Months to debt-free and total interest.
$5,000 at 22.99% APR, $200/mo payment.
Minimum-only would cost far more and take much longer.
Only paying the minimum
Fix: Fixed payments above minimum save significant interest.
Continuing to charge
Fix: Set new charges to zero for accurate payoff projection.
See how long it takes to pay off credit card debt and how much interest you will pay.
Fixed amount you plan to pay each month
Minimum payment rules
Ongoing spending added each month
Result
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Enter balance, APR, and payment, then click Calculate.