Debt Payoff Calculator
One balance, one APR, one monthly payment. Get the exact payoff month, total interest, and what each extra $50 does. Works for cards, store cards, payday alternatives, medical bills, student loans.
| Payoff time | — |
| Total interest | — |
| Total paid | — |
| Debt-free month | — |
| With +$50/mo | — |
| With +$100/mo | — |
| With +$200/mo | — |
| Minimum-payment trap* | — |
*Minimum payment modeled as 1% of balance + interest + $5 with a $25 floor — the standard card formula. On most balances it stretches the payoff into years and thousands in extra interest.
How the math works
Month loop: interest = balance × APR ÷ 12, principal = payment − interest, balance drops by that principal. Repeat until zero. No rounded averages, real amortization.
Payment floor: if your payment is below the first month's interest, the balance grows forever; the tool says so instead of pretending.
Extra tiers: same loop at +$50, +$100, +$200, reporting months and interest saved versus your plan.
Minimum trap: 1% of balance + interest + $5, floor $25, capped at the payoff amount. Classic long-tail schedule.
Frequently asked questions
How long to pay off $5,000 at 25% APR paying $150 a month?
About 58 months, and roughly $3,600 in interest along the way. The same balance at $200 a month is cleared in about 36 months with around $2,100 of interest. That $50 a month is the difference between five years of interest and three.
What is the minimum payment trap on credit cards?
Minimums are usually 1% of the balance plus interest. That schedule stretches a $5,000 balance into 15+ years of payments and thousands in interest. A fixed payment you can sustain beats the minimum every time.
Is it better to pay one card faster or spread payments?
Pure math: put every extra dollar on the highest APR first (avalanche) and you pay the least interest. The psychological win of killing a small balance (snowball) is worth paying a little more interest for if it keeps you paying.