Sam's Economics

How long will your credit card take to pay off?

Enter your balance and rate. See what paying only the minimum really costs, how much a fixed payment saves, and the best order to pay several cards.

Your card

Defaults are Maya and Marcus from the video. Change anything.

Balance

$500$30k

Interest rate (APR)

5%36%

Minimum payment formula

Minimum payment floor

$15$50

Your fixed payment

Pay this every month

This payment doesn't cover the monthly interest, so the balance never goes down.

YOUR FIXED PAYMENT VS THE MINIMUM

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Minimum only

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Your fixed payment

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3-year payment

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Balance left over time

After	Minimum only	Fixed payment	3-year payment

First minimum payment

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Minimum after one year

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Several cards: avalanche or snowball?

Pay the minimum on every card, then put everything extra on one card at a time. Defaults are Priya's three cards from the video.

Card	Balance ($)	APR (%)

Total paid each month, all cards ($)

Avalanche: highest rate first

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Snowball: smallest balance first

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Verdict

Before you act

1Read the Minimum Payment Warning box on your latest statement.
2Stop adding new charges to the cards you're paying off.
3Pick a fixed monthly payment, at least this month's minimum, and never let it go down.
4Several cards: minimums on all, every extra dollar on one card. Highest rate saves the most; smallest balance gives the earliest win.
5Call your card company and ask for a lower rate. Never miss a minimum while you're paying down.

Get the payoff worksheet, the avalanche and snowball tracker, and a script for calling your card company.

Download the PDF guide

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Illustrative estimate only, not financial advice. Interest is charged monthly at the APR ÷ 12 on the balance, rounded to the cent; no new charges, fees, promotional rates or rate changes. The minimum payment is the chosen percentage of the balance plus that month's interest, with the floor shown, and never more than the balance. With several cards, every card gets its minimum first and the rest of your monthly total goes to one card at a time; when a card is paid off, its payment rolls to the next. Defaults: $8,000 at 22% (about the average rate on US cards that charge interest, Federal Reserve, August 2026), minimum 1% + interest with a $25 floor. Card formulas differ; your statement's Minimum Payment Warning shows your card's own numbers. If you're struggling to keep up, contact a nonprofit credit counseling agency.