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Payoff time and interest at 22% APR
| Balance | $100/mo | $200/mo | $300/mo | $500/mo |
|---|---|---|---|---|
| $2,000 | 26 mo · $514 | 12 mo · $230 | 8 mo · $153 | 5 mo · $97 |
| $5,000 | 137 mo · $8,678 | 34 mo · $1,750 | 21 mo · $1,022 | 12 mo · $574 |
| $10,000 | Never | 137 mo · $17,356 | 52 mo · $5,596 | 26 mo · $2,571 |
| $20,000 | Never | Never | Never | 73 mo · $16,378 |
Months to pay off · total interest. No new charges.
Assumptions
- No new purchases, fees or rate changes. Interest is charged monthly at APR ÷ 12 (issuers compound daily, so real interest can be slightly higher).
- Minimum payment modeled as interest + 1% of the balance (at least $25) — a common issuer formula; check your statement.
Frequently asked questions
How long will it take to pay off my credit card?+
It depends on your balance, APR and payment. At 22% APR, a $5,000 balance takes about 34 months at $200 a month — the table below shows other combinations.
Why do minimum payments take so long?+
Minimums are usually interest plus about 1% of the balance, so they shrink as the balance falls and most of each payment goes to interest. Paying only the minimum on $5,000 at 22% takes about 19 years and $8,100 of interest.
What's the fastest way to pay off credit card debt?+
Pay a fixed amount well above the minimum, stop new charges, and target the highest-APR card first (the avalanche method). A 0% balance transfer or a lower-rate consolidation loan can cut interest further if the fees are low.
Is a balance transfer worth it?+
Usually yes if you can pay off the balance during the 0% period: a 3–5% transfer fee is far less than a year of 20%+ interest. Run both numbers before applying.
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Last reviewed October 15, 2026. Calculator version 1.0.0. Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.