How credit card payoff works
Each month, interest is added to the balance, then your payment is applied. The portion above the interest reduces the principal. Lower principal next month means less interest next month.
Credit card payoff calculator
$
%
$
$
Payoff time
37 mo
Debt-free by Jun 2029
Total interest
$2,582
Total paid
$9,082
Saved with extra
$972
13 months sooner
Balance over time
Base plan With extra payment
Calculations are estimates for educational purposes only and do not constitute financial advice. Actual payoff timelines, interest charges, and credit outcomes may vary.
How payoff works
The math behind paying off a credit card.
Why APR matters
APR is the cost of carrying a balance. A 24% APR on $5,000 is roughly $100/month in interest — money that doesn't reduce what you owe.
Minimum payment vs fixed payment
Minimums decrease as your balance falls, which is why minimums alone can take a decade. Paying a fixed amount keeps progress steady.
Snowball vs avalanche
Snowball: clear smallest balance first for momentum. Avalanche: clear highest APR first to save the most in interest.
Why tracking all cards together matters
Picking the right card to attack first depends on seeing them side by side — APR, balance, promo windows, and minimums all at once.
FAQ