Credit Card Payoff Calculator
Find out how long it will take to pay off your credit card, how much interest you'll pay, and how making extra payments can save you thousands. Compare minimum payment vs fixed payment.
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Frequently asked
questions
Credit cards compound interest daily. The daily periodic rate is APR ÷ 365. Each day, interest accrues on your outstanding balance. Making minimum payments often barely covers interest, keeping you in debt for years.
Most minimum payments are 1–3% of the balance or $25—whichever is greater. This means as your balance decreases, so does your minimum payment, dramatically extending the payoff timeline.
Avalanche: pay minimums on all cards, then put extra money toward the highest-APR card. Snowball: pay off smallest balance first for psychological wins. Avalanche saves the most interest; snowball builds momentum.