Card issuers charge interest daily on the average daily balance; this monthly model is a close approximation. New purchases are not included.
Paying $200.00 a month clears the card in 35 months with $1,859.78 of interest. Minimum payments take 232 months (19.3 years) and cost $8,453.56 in interest — $6,593.78 more.
Balance over time
Minimum paymentsFixed $200.00
Interest paid
Month by month 행 수: 232
월
Minimum payment
Balance (minimum)
Fixed payment
Balance (fixed)
1
$145.42
$4,950.00
$200.00
$4,895.42
2
$143.96
$4,900.50
$200.00
$4,788.84
3
$142.52
$4,851.50
$200.00
$4,680.22
4
$141.10
$4,802.98
$200.00
$4,569.54
5
$139.69
$4,754.95
$200.00
$4,456.74
6
$138.29
$4,707.40
$200.00
$4,341.79
7
$136.91
$4,660.33
$200.00
$4,224.65
8
$135.54
$4,613.72
$200.00
$4,105.27
9
$134.18
$4,567.59
$200.00
$3,983.61
10
$132.84
$4,521.91
$200.00
$3,859.63
11
$131.51
$4,476.69
$200.00
$3,733.28
12
$130.20
$4,431.92
$200.00
$3,604.53
계산 방법 S
Monthly rate
r=120022.9=0.01908333333
Each month
interest=B×r,B←B+interest−payment
First minimum payment
max(1%×5,000.00+95.42,25.00)=145.42
The minimum is recalculated every month from the new balance, so it shrinks as the balance falls.
Fixed payment plan
35months,interest=1,859.78
Minimum payment plan
232months,interest=8,453.56
Credit card payoff calculator 소개
Card interest accrues each month at APR ÷ 12 on the balance, and the minimum payment is recalculated from the new balance every month, so it shrinks as the debt falls and the payoff drags on. The calculator runs two schedules month by month, one on minimum payments and one at a fixed amount, and compares the months and interest each takes.
With the defaults, a 5,000 balance at 22.9% APR, a fixed 200 a month clears the card in 35 months with 1,859.78 of interest. The minimum (1% of the balance plus the month's interest, at least 25) starts at 145.42 and takes 232 months, 19.3 years, costing 8,453.56.
Issuers charge interest daily on the average daily balance, so statements differ slightly from this monthly model, and new purchases are not included. Check your card agreement for its minimum payment rule.
계산 예제
5,000 at 22.9%: 200 a month vs 1% plus interest
Card balance
5000
연간 이율 (APR)
22.9%
Fixed monthly payment
200
Minimum payment rule
% of balance plus interest
Minimum payment percentage
1%
Minimum payment floor
25
Months to pay off (fixed payment)
35
Interest paid (fixed payment)
1,859.78
Months to pay off (minimum payments)
232
Interest paid (minimum payments)
8,453.56
Interest saved
6,593.78
First minimum payment
145.42
검증 출처: Python decimal (prec 50) month-by-month simulation, interest at APR/12 then payment
3% of statement balance with a 35 floor
Card balance
5000
연간 이율 (APR)
22.9%
Fixed monthly payment
200
Minimum payment rule
% of statement balance
Minimum payment percentage
3%
Minimum payment floor
35
Months to pay off (minimum payments)
180
Interest paid (minimum payments)
7,070.63
First minimum payment
152.86
검증 출처: Python decimal month-by-month simulation
Payment larger than the balance — one month
Card balance
1000
연간 이율 (APR)
12%
Fixed monthly payment
2000
Minimum payment rule
% of statement balance
Minimum payment percentage
2%
Minimum payment floor
25
Months to pay off (fixed payment)
1
Interest paid (fixed payment)
10.00
First minimum payment
25.00
Months to pay off (minimum payments)
52
검증 출처: 1000 × 1% = 10 interest, cleared in one payment; the 25 floor exceeds 2% × 1010 (Python decimal simulation for 52 months)
Zero APR
Card balance
1200
연간 이율 (APR)
0%
Fixed monthly payment
100
Minimum payment rule
% of statement balance
Minimum payment percentage
2%
Minimum payment floor
25
Months to pay off (fixed payment)
12
Interest paid (fixed payment)
0.00
Months to pay off (minimum payments)
48
Interest paid (minimum payments)
0.00
검증 출처: 1200 / 100 = 12 months; 2% of the balance never exceeds the 25 floor, so 1200 / 25 = 48 months
자주 묻는 질문
How long does it take to pay off a credit card with minimum payments?
Often decades, because the minimum shrinks with the balance. A 5,000 balance at 22.9% APR on a minimum of 1% plus interest (at least 25) takes 232 months, 19.3 years, and costs 8,453.56 in interest. In the US, Regulation Z (12 CFR 1026.7(b)(12)) requires each statement to show the payoff time and total cost at the minimum payment.
How much do I need to pay to clear my card in 3 years?
Use the loan payment formula with 36 months. Clearing 5,000 at 22.9% APR in 36 months takes 193.29 a month and 1,958.37 of interest; in 24 months it takes 261.62 a month and 1,278.84 of interest. US statements show the 36-month figure and the saving against minimum payments, unless the minimum already clears the balance within 3 years (Regulation Z).
How is credit card interest calculated?
The APR is divided into a periodic rate and applied to the balance. At 22.9% APR the monthly rate is 22.9 ÷ 12 = 1.908%, so a 5,000 balance accrues 95.42 of interest in the first month. Issuers usually apply a daily rate to the average daily balance instead, which gives a slightly different figure, and interest is charged on interest left unpaid.
What is the average credit card interest rate?
22.15% APR for US accounts assessed interest in the second quarter of 2026, according to the Federal Reserve's G.19 consumer credit release of 8 September 2026. At that rate, 5,000 paid off at 200 a month takes 34 months and costs 1,767.76 in interest, against 35 months and 1,859.78 at the 22.9% default.
How much faster does paying more than the minimum clear a card?
Each extra amount shortens the payoff sharply. On 5,000 at 22.9% APR, 150 a month takes 54 months and 3,021.92 of interest, 200 takes 35 months and 1,859.78, and 300 takes 21 months and 1,075.70. Doubling the payment from 150 to 300 cuts the interest by 64%.
“Credit card payoff calculator”의 정확도는 어느 정도인가요?
정확도는 입력값과 계산 방법의 가정에 따라 달라집니다. 십진 연산은 유효숫자 50자리를 사용하지만, 추정값·수치해석 방법·원본 데이터의 정밀도는 더 낮을 수 있습니다. 표시값을 반올림해도 이러한 한계는 사라지지 않습니다. 독립적인 출처의 풀이와 대조한 계산 예시: 4. 예를 들어 “5,000 at 22.9%: 200 a month vs 1% plus interest”은 Python decimal (prec 50) month-by-month simulation, interest at APR/12 then payment와 대조해 확인합니다.
이 계산 방법의 출처는 무엇인가요?
Regulation Z, Appendix M1 to Part 1026 — Repayment disclosures (minimum payment repayment estimates); Consumer Financial Protection Bureau — Understanding minimum payments.