Credit Card Debt Payoff Calculator — See Your Exact Payoff Date
The average credit card APR in 2026 is 21% (Federal Reserve). At that rate, minimum payments barely dent your balance — most of your payment goes to interest, not principal.
The table below shows you the brutal math: how long minimum payments take, how much interest you'll pay, and what adding just $50/month does. The numbers are often shocking — and motivating.
The minimum payment trap: On a $5,000 balance at 21% APR, making only minimum payments means you'll pay $3,113 in interest over 59 months. Adding just $50/month saves $1,175 in interest.
Minimum Payments vs. +$50/Month — Real Numbers at 21% APR
All calculations use the current average credit card APR of 21% (Federal Reserve, 2026). Minimum payment = 1% of balance + monthly interest, floor of $25.
| Debt | Min Payment | Months (min only) | Interest Paid (min) | Months (+$50/mo) | Interest Saved |
|---|---|---|---|---|---|
| $2,000 | $55/mo | 59 mo | $1,245 | 24 mo | $725 |
| $5,000 | $138/mo | 59 mo | $3,113 | 37 mo | $1,175 |
| $10,000 | $275/mo | 59 mo | $6,225 | 45 mo | $1,600 |
| $20,000 | $550/mo | 59 mo | $12,450 | 51 mo | $1,850 |
Calculations are estimates. Actual minimum payments vary by card issuer. APR = 21% (Federal Reserve TERMCBCCALLNS, 2026).
Three Strategies to Pay Off Faster
Pay minimums on all cards. Attack the smallest balance first with every extra dollar. Wins keep you motivated. Best when you have multiple small debts.
Pay minimums on all cards. Put every extra dollar toward the highest-interest debt first. Mathematically optimal — saves the most money. Best for people who can stay disciplined.
Move your debt to a 0% intro APR card (12–21 months). At 21%, you're paying hundreds per month in interest alone. Eliminating that could be the fastest path out.
See Your Exact Payoff Date
The table above uses generic scenarios. Our free planner calculates your exact payoff date, total interest, and the impact of extra payments — based on your real balance and current monthly payment.
Calculate my payoff date for free →No account required. Takes 2 minutes.