Find out how many months it takes to pay off a credit card, how much interest you will pay, and what monthly payment clears it by your target date.
By TanLabs · Formulas cross-checked against the free spreadsheet · Updated 2026-10-31 · Runs in your browser – nothing you type is sent anywhere
With card balance $5,000, APR 22.9%, monthly payment $200, target payoff 24 months:
Debt-free in 35 months (2.9 years)
Total interest: $1,860 · Payment needed to finish in 24 months: $262/mo
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Each month: interest = balance × APR ÷ 12; balance = balance + interest − payment. Payment for a target of N months = B·r ÷ (1 − (1+r)^−N), r = APR ÷ 12.
Most of a minimum payment goes to interest. If your payment is only slightly above balance × APR ÷ 12, the balance falls very slowly.
It assumes a fixed APR, no new purchases and no fees. Your card statement is the final authority.
Use our debt snowball calculator to compare paying them in order of balance vs interest rate.