How long will it take to pay off my credit card debt?

It depends on three numbers: your balance, your APR, and how much you pay each month.

Your debts

Your numbers stay in this browser (saved locally so you can come back). Nothing is sent to us unless you choose to email yourself a plan.

Worked example

Take a $5,000 balance at 22% APR. Monthly interest starts around $91.67 (5,000 × 0.22 ÷ 12). At a fixed $150 a month, only about $58 goes to principal in the first month, and payoff takes about 52 months (4.3 years) with about $2,800 in interest. At $250 a month, payoff takes about 26 months and interest drops to about $1,290, less than half.

Run your own numbers in the calculator above. These figures are rounded estimates that assume no new purchases.

Ways to pay it off faster

  • Pay a fixed amount instead of the shrinking minimum.
  • Add even a small extra payment; it all goes to principal.
  • Stop new charges on the card you're paying down.
  • Ask your issuer for a lower APR, or consider a balance transfer or consolidation loan if the math works.

Frequently asked questions

What's the formula for credit card payoff time?

For a fixed payment P, balance B, and monthly rate r (APR ÷ 12), months = −ln(1 − rB/P) ÷ ln(1 + r). If P is less than or equal to rB, the balance never gets paid off.

Why isn't my balance going down?

If your payment is close to the monthly interest, very little reaches principal. New purchases also offset payments.

Related tools and guides

Debt payoff calculatorDebt Snowball vs AvalancheDebt Snowball CalculatorDebt Avalanche CalculatorCredit Card Payoff CalculatorDebt consolidation loans explainedHow to get out of debt

Not financial advice. Results are estimates for educational purposes. Talk to a qualified professional about your situation. Some links are affiliate links; see our disclosure.