How Long to Pay Off Your Credit Card?

Credit card interest compounds monthly. Each billing cycle, your outstanding balance is multiplied by your monthly interest rate (your APR divided by 12). If you carry a balance, this interest is added to what you owe — and next month, you pay interest on interest. This is why balances can feel impossible to shift even when you are making regular payments.

The minimum payment trap is one of the most costly traps in personal finance. Card issuers calculate minimum payments as a small percentage of your balance — typically 1–2% plus interest or a flat amount like $25, whichever is greater. While this keeps your account in good standing, it barely dents the principal. The result: a $3,000 balance at 24.99% APR, paid at the minimum, could take over 15 years to clear and cost more in interest than the original debt.

The most reliable way to escape credit card debt is to pay a fixed amount above the minimum each month — or, better, switch to a 0% balance transfer card. Our comparison pages show the best balance transfer credit cards available right now, with introductory 0% periods of up to 21 months. Use the time to pay down the principal aggressively. For broader debt management options, see our debt consolidation loans guide.

All calculations in this tool use standard amortisation. They assume a fixed APR and no new purchases during the payoff period. For personalised debt advice, visit the Consumer Financial Protection Bureau (CFPB).