How long will it take to pay off a credit card or loan, and how much interest will you pay?
Time to pay it off
2 years 1 month
Interest paid
679.82
Total paid
3,679.82
How long a debt takes to pay off
Enter what you owe, the yearly interest rate and what you can pay each month. The calculator tells you how many months it will take and how much of what you pay goes to interest. If the payment does not cover the monthly interest, the debt never goes down.
Paying it off faster
Even a small increase in the monthly payment can cut months and interest.
With several debts, pay the minimum on all and put the rest on the one with the highest rate (avalanche) or the smallest balance (snowball).
Stop adding to the debt while you pay it off.
Frequently asked questions
Why does a credit card take so long to pay off?
Card rates are high, so a large part of each payment goes to interest. Paying only the minimum can take years.
Avalanche or snowball?
Avalanche saves the most interest; snowball gives quick wins that help people keep going. Both work if you stick to them.
Does this include fees?
No, only interest. Late fees or annual fees make the debt last longer.
Indicative results. This is not financial advice.
Know how much you will have left at the end of the month
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