run credit-card-payoff

Credit Card Payoff Calculator

Minimum payments vs fixed payments — the years and interest between them, animated.

New to this? Start here

Credit cards charge interest every month on whatever balance you're still carrying — pay only the minimum and most of your payment goes to interest, not the debt itself. Type or drag in your real balance, rate, and payment to see how many years it takes and what it really costs. Push the monthly payment up and watch both numbers drop.

Card balance

APR

Payment type

Monthly payment

Shares this exact simulation, sliders and all.

Debt-free in

4 yr 4 mo

Total interest paid

$4,899

Interest saved vs minimum-only

$110,301

At minimum payments this $8,000 balance never gets paid off — the minimum doesn't even cover the interest.

Your paymentMinimum payments only

View as table

Year	Your balance	Minimum-only balance	Interest paid (yours)
0	$8,000	$8,000	$0
1	$6,793	$8,000	$1,793
2	$5,262	$8,000	$3,262
3	$3,321	$8,000	$4,321
4	$858	$8,000	$4,858
5	Paid off	$8,000	$4,899
6	Paid off	$8,000	$4,899
7	Paid off	$8,000	$4,899
8	Paid off	$8,000	$4,899
9	Paid off	$8,000	$4,899
10	Paid off	$8,000	$4,899
11	Paid off	$8,000	$4,899
12	Paid off	$8,000	$4,899
13	Paid off	$8,000	$4,899
14	Paid off	$8,000	$4,899
15	Paid off	$8,000	$4,899
16	Paid off	$8,000	$4,899
17	Paid off	$8,000	$4,899
18	Paid off	$8,000	$4,899
19	Paid off	$8,000	$4,899
20	Paid off	$8,000	$4,899
21	Paid off	$8,000	$4,899
22	Paid off	$8,000	$4,899
23	Paid off	$8,000	$4,899
24	Paid off	$8,000	$4,899
25	Paid off	$8,000	$4,899
26	Paid off	$8,000	$4,899
27	Paid off	$8,000	$4,899
28	Paid off	$8,000	$4,899
29	Paid off	$8,000	$4,899
30	Paid off	$8,000	$4,899
31	Paid off	$8,000	$4,899
32	Paid off	$8,000	$4,899
33	Paid off	$8,000	$4,899
34	Paid off	$8,000	$4,899
35	Paid off	$8,000	$4,899
36	Paid off	$8,000	$4,899
37	Paid off	$8,000	$4,899
38	Paid off	$8,000	$4,899
39	Paid off	$8,000	$4,899
40	Paid off	$8,000	$4,899
41	Paid off	$8,000	$4,899
42	Paid off	$8,000	$4,899
43	Paid off	$8,000	$4,899
44	Paid off	$8,000	$4,899
45	Paid off	$8,000	$4,899
46	Paid off	$8,000	$4,899
47	Paid off	$8,000	$4,899
48	Paid off	$8,000	$4,899
49	Paid off	$8,000	$4,899
50	Paid off	$8,000	$4,899
51	Paid off	$8,000	$4,899
52	Paid off	$8,000	$4,899
53	Paid off	$8,000	$4,899
54	Paid off	$8,000	$4,899
55	Paid off	$8,000	$4,899
56	Paid off	$8,000	$4,899
57	Paid off	$8,000	$4,899
58	Paid off	$8,000	$4,899
59	Paid off	$8,000	$4,899
60	Paid off	$8,000	$4,899

Methodology & assumptions

APR compounds monthly on the remaining balance; no new charges are added after month zero.
Minimum-only payments use the common issuer formula: the greater of $25 or 2% of the current balance, recalculated every month.
If a payment doesn't cover that month's interest, the balance is shown growing instead of shrinking — it never reaches zero.
Results are nominal and ignore fees, promotional APRs, and balance transfers.

Educational only

This simulator is for education. It uses simplified assumptions, is not financial, tax, or investment advice, and no result here is a prediction or a recommendation. Talk to a licensed professional before acting.

More debt & payoff tools

debt

Snowball vs Avalanche

Stack multiple debts and compare snowball (smallest first) against avalanche (highest APR first).

debt

Mortgage Payment

Full monthly cost of a home — principal & interest, property tax, insurance, HOA, and PMI — with the income the 28% rule says you'd need.

debt

Mortgage Payoff

Extra principal payments against a mortgage: payoff date moved up, interest saved.