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Estimates only, based on the numbers you enter and the rules shown. Not financial advice. Your lender or provider will use its own checks.
How it’s calculated
Each month, interest is charged on the balance (APR ÷ 12) and your payment is taken off. Paying extra goes straight to the balance, so less interest builds up every month after that. That is why a small extra payment can cut months or years off.
How to pay off credit card debt fast
- Pay more than the minimum. In the US, your statement must show how long it would take to pay off the balance making only minimum payments. CFPB: minimum payment warning
- Stop adding new charges to the card you are paying off, or the balance won’t fall.
- Target one card at a time. Use the debt payoff planner if you have several cards.
- Ask your card issuer for a lower rate or a hardship plan if you are struggling.
- Read balance transfer offers carefully. A 0% offer can help, but check the transfer fee and the rate after the offer ends.
Frequently asked questions
How long will it take to pay off my credit card?
Enter your balance, APR and monthly payment above. If your payment is less than the monthly interest, the balance will never go down.
Is it better to pay off one card or spread payments?
Pay the minimum on every card, then put extra on one card at a time. Paying the highest-rate card first saves the most interest.
Will paying off my credit card raise my credit score?
Lower balances compared with your credit limits are generally better for your score. The CFPB says experts advise using no more than 30% of your total limit. See our credit score action plan.