Credit Card Interest
Credit card interest is the most expensive habit of all
About This Calculator
Calculate the true cost of carrying a credit card balance — how long it takes to pay off and how much you pay in interest.
Enter your actual spending below. The calculator instantly shows your monthly cost, annual cost, and 10-year total adjusted for 3% annual inflation. All calculations happen in your browser — nothing is stored or sent anywhere.
Frequently Asked Questions
How long does it take to pay off a $5,000 credit card balance?
At 22.5% APR paying $150/month, it takes approximately 48 months (4 years) to pay off $5,000 — and you'll pay around $2,100 in interest on top of the original balance.
What is the minimum payment trap?
Paying just the minimum (typically 2% of the balance or $25) on a $5,000 balance at 22.5% APR can take over 20 years to pay off and cost more in interest than the original debt.
How can I pay off credit card debt faster?
Doubling your minimum payment dramatically cuts payoff time. On $5,000 at 22.5%, going from $100/month to $200/month cuts payoff time from 9+ years to under 3 years.
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Disclaimer: All calculators on CostXray are for informational and educational purposes only. Nothing on this site constitutes financial, legal, or investment advice. Default values are based on US averages. Always consult a qualified financial advisor before making financial decisions.