CALCULATOR · FREE免费 · Free
Credit Card Payoff Calculator
Paying only the minimum on a credit card can take years and cost a lot of interest. Enter balance, APR and monthly payment to estimate payoff months and total interest; if the payment is below monthly interest, the balance never falls.
--Months · months
--Total interest · $
--Total paid · $
Estimates only; verify on site before ordering or building.
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Example
| Item | Value | Unit |
|---|---|---|
| Balance | 5000 | $ |
| APR | 24 | % |
| Monthly payment | 200 | $ |
| Months | 36 | months |
| Total interest | 2000.56 | $ |
| Total paid | 7000.56 | $ |
Where people go wrong
- Paying only the minimum.
- Treating a promotional APR as permanent.
- Stretching a consolidation loan so long that total interest rises.
FAQ
Why is the minimum payment risky?
Most goes to interest, principal falls slowly, and total interest is high.
Is a balance transfer always worth it?
Check the transfer fee, promo period and post-promo APR; compare total cost.
Is this financial advice?
No; for serious debt, contact nonprofit credit counseling.