How Long Will It Take To Pay Off My Credit Card?

Americans today owe more money than ever before. The fact that "interest never sleeps" means that the situation will continue to worsen unless steps are taken at the individual level to reduce or eliminate debt. Additional monthly payments can make a difference to accelerate the payoff and save yourself hundreds and thousands in interest payments.
     
  Loan Information

Input
  Current credit card balance
  Annual percentage rate: (%)
  Minimum payment percentage: (%)
  Minimum payment amount
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  Proposed additional monthly payment
     
 

Any rate of return entered into the calculator to project future values should be a reasonable average return for the period. Rates of return will vary over time, and generally the higher the rate of return the higher the degree of risk.

The information provided here is to assist you in planning for your future. The accuracy of this calculator and its applicability to your circumstances is not guaranteed. Any analysis is a result of the information you have provided. Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please not that individual situations can vary. Therefore, the information should be relied upon when coordianted with individual advice from qualified professionals.