Credit card payoff calculator
Compare paying only the minimum against a fixed monthly payment — minimum payments can take decades and cost far more in interest than most people expect.
Time to pay off
Never, at this rate
Total interest
$34,783.50
At this payment level, you're barely covering the interest each month — the balance won't go down in any reasonable timeframe. You'd need a higher payment to make real progress.
| Minimum payment only | Fixed amount | |
|---|---|---|
| Time to pay off | Never, at this rate | 34 months |
| Total interest | $34,783.50 | $1,749.88 |
Live preview
Balance over time
Your analysis
Save this calculation
Download the inputs and results to share them or review them later.
| Year | Start balance | Principal paid | Interest paid | Remaining balance |
|---|---|---|---|---|
| 1 | $5,000.00 | $99.09 | $1,089.97 | $4,900.91 |
| 2 | $4,900.91 | $97.12 | $1,068.37 | $4,803.79 |
| 3 | $4,803.79 | $95.20 | $1,047.20 | $4,708.59 |
| 4 | $4,708.59 | $93.31 | $1,026.45 | $4,615.27 |
| 5 | $4,615.27 | $91.46 | $1,006.10 | $4,523.81 |
| 6 | $4,523.81 | $89.65 | $986.17 | $4,434.16 |
| 7 | $4,434.16 | $87.87 | $966.62 | $4,346.28 |
| 8 | $4,346.28 | $86.13 | $947.47 | $4,260.15 |
| 9 | $4,260.15 | $84.43 | $928.69 | $4,175.72 |
| 10 | $4,175.72 | $82.75 | $910.28 | $4,092.97 |
| 11 | $4,092.97 | $81.11 | $892.25 | $4,011.86 |
| 12 | $4,011.86 | $79.51 | $874.56 | $3,932.35 |
| 13 | $3,932.35 | $77.93 | $857.23 | $3,854.42 |
| 14 | $3,854.42 | $76.39 | $840.24 | $3,778.04 |
| 15 | $3,778.04 | $74.87 | $823.59 | $3,703.16 |
| 16 | $3,703.16 | $73.39 | $807.27 | $3,629.78 |
| 17 | $3,629.78 | $71.93 | $791.27 | $3,557.84 |
| 18 | $3,557.84 | $70.51 | $775.59 | $3,487.33 |
| 19 | $3,487.33 | $69.11 | $760.22 | $3,418.22 |
| 20 | $3,418.22 | $67.74 | $745.15 | $3,350.48 |
| 21 | $3,350.48 | $66.40 | $730.39 | $3,284.08 |
| 22 | $3,284.08 | $65.08 | $715.91 | $3,219.00 |
| 23 | $3,219.00 | $63.79 | $701.72 | $3,155.21 |
| 24 | $3,155.21 | $62.53 | $687.82 | $3,092.68 |
| 25 | $3,092.68 | $61.29 | $674.19 | $3,031.39 |
| 26 | $3,031.39 | $60.08 | $660.83 | $2,971.31 |
| 27 | $2,971.31 | $58.88 | $647.73 | $2,912.43 |
| 28 | $2,912.43 | $57.72 | $634.89 | $2,854.71 |
| 29 | $2,854.71 | $56.57 | $622.31 | $2,798.14 |
| 30 | $2,798.14 | $55.45 | $609.98 | $2,742.68 |
| 31 | $2,742.68 | $54.35 | $597.89 | $2,688.33 |
| 32 | $2,688.33 | $53.28 | $586.04 | $2,635.05 |
| 33 | $2,635.05 | $52.22 | $574.43 | $2,582.83 |
| 34 | $2,582.83 | $51.19 | $563.04 | $2,531.65 |
| 35 | $2,531.65 | $50.17 | $551.89 | $2,481.48 |
| 36 | $2,481.48 | $49.18 | $540.95 | $2,432.30 |
| 37 | $2,432.30 | $48.20 | $530.23 | $2,384.10 |
| 38 | $2,384.10 | $47.25 | $519.72 | $2,336.85 |
| 39 | $2,336.85 | $46.31 | $509.42 | $2,290.54 |
| 40 | $2,290.54 | $45.39 | $499.32 | $2,245.15 |
| 41 | $2,245.15 | $44.49 | $489.43 | $2,200.65 |
| 42 | $2,200.65 | $43.61 | $479.73 | $2,157.04 |
| 43 | $2,157.04 | $42.75 | $470.22 | $2,114.29 |
| 44 | $2,114.29 | $41.90 | $460.90 | $2,072.39 |
| 45 | $2,072.39 | $41.07 | $451.77 | $2,031.32 |
| 46 | $2,031.32 | $40.26 | $442.82 | $1,991.07 |
| 47 | $1,991.07 | $39.46 | $434.04 | $1,951.61 |
| 48 | $1,951.61 | $38.68 | $425.44 | $1,912.93 |
| 49 | $1,912.93 | $37.91 | $417.01 | $1,875.02 |
| 50 | $1,875.02 | $37.16 | $408.74 | $1,837.86 |
How this is calculated
Minimum payments are modeled as the greater of 2% of your remaining balance or a small fixed floor, recalculated every month — this is why they shrink over time and why paying "the minimum" can take decades. A fixed payment stays the same every month, so it makes steady progress against the principal.
This is an educational estimate, not financial advice.