See how long it will take to pay off your debt and how much interest you will pay.
Your Debt Details
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The amount you plan to pay each month
See how extra payments accelerate payoff
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Payoff Timeline
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Enter your balance, interest rate, and payment amount to see your exact payoff timeline and total interest paid. Experiment with higher monthly payments to see how much interest you can save and how much sooner you'll be debt-free.
Interest accrues monthly on the remaining balance (APR ÷ 12 = monthly rate). Each payment is applied first to interest, then the remainder reduces principal. Extra payments go entirely to principal, which is why they dramatically accelerate payoff.
Interest accrues monthly on the remaining balance using the monthly periodic rate (APR ÷ 12).
Monthly payment is applied first to interest, then to principal.
Payment amount must exceed the monthly interest charge to make progress.
Extra payment is added on top of the regular monthly payment each month.
No fees or penalty rates are included.
The avalanche method pays off debts in order of highest interest rate first, minimizing total interest paid. The snowball method pays the smallest balance first for psychological wins and momentum. Mathematically, avalanche saves more money; psychologically, snowball can be more motivating. Both work — the best method is the one you will stick with.
Credit card minimum payments are typically calculated as a small percentage of your balance (often 1–3%) or a fixed minimum ($25–$35). Paying only the minimum means most of your payment goes to interest and you pay off your debt very slowly. On a $5,000 credit card balance at 20% APR, paying the minimum could take 15+ years and cost over $7,000 in interest.