See how long it takes to clear a debt and what it costs. Free, private, and runs entirely in your browser.
Each month interest (balance × APR ÷ 12) is added, then your payment is subtracted. The calculator repeats this until the balance reaches zero.
How can I pay off debt faster? Increase the monthly payment or target the highest-interest balance first (the avalanche method).
Why does my payment need to exceed the interest? If the payment only covers interest, the principal never decreases.
A $8,000 balance at 19.9% APR with a $300 monthly payment is paid off in about 3 years, with roughly $2,649 in interest, for a total of about $10,649.
Should I pay highest rate first or smallest balance first? Highest rate first saves the most interest; smallest first can build motivation. See our snowball vs avalanche guide.
Does balance transfer help? It can if the fee is low and you repay before the promotional period ends.