Choose a balance to compare monthly payments, compare which debt to pay first, or work backward from a deadline. Examples assume fixed rates and no new borrowing; each answer explains its calculation method. Written and reviewed by Todd K. Ballenger. Read our editorial policy.
How long one card balance takes at a real rate, and what changes the date.
Paying $150 a month at 22.36% APR, $5,000 takes 4 years and 5 months to pay off and costs about $2,886 in interest.
Paying $250 a month at 22.36% APR, $9,000 takes 5 years and 1 month to pay off and costs about $6,046 in interest.
Paying $300 a month at 22.36% APR, $10,000 takes 4 years and 5 months to pay off and costs about $5,771 in interest.
Paying $350 a month at 22.36% APR, $12,000 takes 4 years and 8 months to pay off and costs about $7,309 in interest.
Paying $400 a month at 22.36% APR, $15,000 takes 5 years and 5 months to pay off and costs about $10,996 in interest.
Paying $500 a month at 22.36% APR, $20,000 takes 6 years and 3 months to pay off and costs about $17,044 in interest.
Paying $650 a month at 22.36% APR, $25,000 takes 5 years and 9 months to pay off and costs about $19,403 in interest.
Paying $750 a month at 22.36% APR, $30,000 takes 6 years and 3 months to pay off and costs about $25,566 in interest.
Paying $1,250 a month at 22.36% APR, $50,000 takes 6 years and 3 months to pay off and costs about $42,611 in interest.
The minimum on $10,000 is often about $286 to start. Paying only the minimum takes 25 years and costs about $17,558 in interest.
Personal and car loans: paying them off early, and what it saves.
On $10,000 it often is: at 12.55% instead of 22.36%, the same $300 a month finishes in 3 years and 6 months instead of 4 years and 5 months, with $3,411 less interest.
Usually the credit card. Sending the extra money there first saves about $1,626 in this example, and you're debt-free 2 months sooner.
Usually the credit card. At 22.36% against a 6.5% student loan, card-first saves about $2,521 here and finishes 3 months sooner.
Several balances at once, and which to pay first.
In this example the avalanche saves about $233 in interest. The snowball pays off its first debt in month 5, against month 13 for the avalanche.
Pay every minimum, then put extra money on the highest-rate debt first, usually the credit card. Here that saves $3,958 compared with paying the lowest rate first.
Pay the minimum on every card, then put all the extra on one card at a time. With $600 a month these three cards are paid off in 1 year and 11 months, against 4 years and 10 months on minimums alone.
In this example, December 2029. That's when $46,156 across a card, a personal loan and a car loan is gone at $1,500 a month, with about $9,364 in interest.
Start from a deadline and work back to the monthly payment.
Pay about $938 a month. At 22.36% APR that clears $10,000 in 1 year, with about $1,252 in interest.
Pay about $1,042 a month. At 22.36% APR that clears $20,000 in 2 years, with about $4,982 in interest.
For the average balance of $6,610 at 22.36% APR, about $254 a month clears it in 3 years, with about $2,517 in interest.