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Banking & Budgeting

How Long Will It Take To Pay Off My Credit Card?

Very Good (534 Ratings)

3.91011/5

Americans today owe more money than ever before. The fact that 'interest never sleeps' means that the situation will continue to worsen unless steps are taken at the individual level to reduce or eliminate debt. Additional monthly payments can make a difference to accelerate the payoff and save yourself hundreds and thousands in interest payments.

Loan Information	Input
Current credit card balance	(0-9999999)$
Annual percentage rate: (%)	(0-30)%
Minimum payment percentage: (%)	(0-10)%
Minimum payment amount	(0-9999999)$
Skip December payment when offered?	NoYes
Proposed additional monthly payment	(0-9999999)$

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Loan Information	Input
Current credit card balance
Annual percentage rate: (%)
Minimum payment percentage: (%)
Minimum payment amount
Skip December payment when offered?
Proposed additional monthly payment

See All Calculators

{ "fields" : { "udata" : [ "ccBalance" , "ccRate" , "minpaymentRate" , "minpaymentAmount" , "skipPayment" , "additionalPayment" ] } }

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This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

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Very Good (534 Ratings)

4/5

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Rates

See today's average rates across the country.

• Mortgage

  Loan Type	Today	Last Week
  30 Year Fixed	5.02%	4.98%
  15 Year Fixed	4.55%	4.54%
  1 Year ARM	3.93%	3.92%
  30 Year Fixed Jumbo	5.89%	5.86%
  5/1 ARM	4.18%	4.09%
  3/1 ARM	4.73%	4.95%

  Source: Bankrate
• Home Equity

  Loan Type	Today	Last Week
  $30K Home Equity Loan	8.35%	8.30%
  $50K Home Equity Loan	8.21%	8.16%
  $75K Home Equity Loan	8.24%	8.19%
  $30K HELOC	5.22%	5.20%
  $50K HELOC	4.95%	4.93%
  $75K HELOC	4.96%	4.94%

  Source: Bankrate
• Savings

  Savings Type	Today	Last Week
  6 month CD	1.12%	1.13%
  1 year CD	1.56%	1.59%
  3 year CD	2.24%	2.27%
  MMA	1.03%	1.04%
  $10K MMA	1.11%	1.11%
  $25K MMA	1.32%	1.32%

  Source: Bankrate
• Auto

  Loan Type	Today	Last Week
  36 Month New Car Loan	6.67%	6.69%
  48 Month New Car Loan	6.79%	6.81%
  60 Month New Car Loan	6.83%	6.86%
  72 Month New Car Loan	6.12%	6.26%
  36 Month Used Car Loan	7.15%	7.21%
  48 Month Used Car Loan	7.02%	7.09%

  Source: Bankrate
• Credit Cards

  Card Type	Today	Last Week
  Business Credit Cards	9.74%	9.49%
  Low Interest Credit Cards	11.65%	11.65%
  Cash Back Credit Cards	12.08%	12.08%
  Balance Transfer Credit Cards	12.13%	12.07%
  Reward Credit Cards	13.29%	13.29%
  Instant Approval Credit Cards	13.32%	13.32%

  Source: CreditCards.com

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