Finance
Credit Card Payoff Calculator
See how long a credit card balance takes to clear and what the interest costs at your payment level.
Result
Assumes a fixed payment and no new spending on the card. Adding purchases while paying it down extends the timeline substantially.
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About this calculator
Why does the minimum payment take so long?
Minimums are typically set at 1–3% of the balance, barely above the interest charge. Most of each payment covers interest, so the principal falls very slowly, often taking decades.
Is paying off a card a good use of business cash?
At typical card rates it is one of the best guaranteed returns available. Clearing a 22.9% balance is equivalent to earning 22.9% risk-free.
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