Debt Payoff Calculator
See exactly how long it takes to pay off your debt - and how much interest you waste by paying only the minimum.
Enter your planned payment. The minimum payment comparison will show below.
Payoff Calculation
Payoff Timeline
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At your payment amount
Total Interest Paid
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On top of the principal
Total Amount Paid
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Why the Minimum Payment Trap Is Expensive
Credit card minimum payments are typically 1-3% of the balance. On a $5,000 balance at 24% interest, paying only the minimum ($100/month) takes over 9 years and costs $4,200+ in interest - nearly doubling what you owe. Paying $250/month instead eliminates the same debt in 2.5 years and costs $1,400 in interest.
This calculator shows the real cost of different payment strategies. If the numbers look bad, the debt strategy comparison guide covers alternatives.