See how many months it takes to clear a balance at your current payment — and what happens if you pay more.
Your debt
$
%
$
Payoff outlook
Time to pay off
—
Total interest paid
$0
Total amount paid$0
Minimum payment to ever pay it off$0
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Where the default rate comes from
The default 21.5% reflects the average APR U.S. credit card issuers charge accounts that carry a balance, according to Federal Reserve data as of 2026. If you're paying off a personal loan or line of credit instead, replace it with your actual rate — those tend to run lower, closer to 12% on average.
Common questions
Why does it say "never" at my current payment?
If your monthly payment doesn't exceed the interest accruing on the balance each month, the balance never shrinks — you're only paying the interest charge, forever. The calculator shows the minimum payment needed to make any progress at all.
Debt avalanche vs. debt snowball — which is better?
The avalanche method pays off the highest-interest balance first, minimizing total interest paid — the mathematically optimal choice. The snowball method pays off the smallest balance first for a quick psychological win, which research shows helps some people stay motivated even though it costs more in interest overall.
Should I pay off debt or invest first?
As a rule of thumb, prioritize paying off any debt with a rate higher than what you could reasonably expect to earn investing (historically around 7% after inflation for a stock index). At 21.5% average credit card APR, paying that down first is almost always the better trade.