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    Credit Card Payoff Calculator

    See what minimum payments are really costing you

    Your bank designed minimum payments to keep you in debt forever

    We designed this tool to set you free. Enter your cards, see the truth, and get a plan to eliminate every dollar.

    Enter your credit cards below. We're going to show you something your bank doesn't want you to see.

    Card 1
    $
    %
    $

    How much extra can you pay each month beyond minimums?

    $0
    $100/month
    $1,000

    Payoff Strategy

    Enter balance and APR for all cards to continue

    Frequently Asked Questions

    How is credit card interest calculated?+
    Credit card interest compounds daily. Your APR is divided by 365 to get a daily rate, which is applied to your balance each day. This means interest accrues on previously charged interest, making it more expensive than simple interest.
    What's the difference between avalanche and snowball methods?+
    The avalanche method targets the card with the highest APR first, saving you the most money. The snowball method targets the lowest balance first, giving you quick psychological wins. Both are valid — choose what keeps you motivated.
    How long does it take to pay off a credit card with minimum payments?+
    For a typical $5,000 balance at 24% APR, minimum payments can take over 20 years to pay off and cost thousands in interest. That's by design — minimum payments are set low to maximize bank profits.
    Will paying off credit cards improve my credit score?+
    Yes, significantly. Credit utilization (how much of your available credit you're using) accounts for about 30% of your credit score. Getting below 30% utilization can boost your score by 30–50 points or more.
    Should I get a balance transfer card?+
    If you can qualify for a 0% intro APR balance transfer card and commit to paying off the balance before the intro period ends, it can save you significant interest. But beware: if you don't pay it off in time, you may owe back-interest.
    How much extra should I pay on my credit cards?+
    Any extra amount helps dramatically. Even $50/month extra can save years and thousands of dollars. Use the What-If Simulator above to see the exact impact for your situation.