The honest numbers for a $10,000 credit card balance at 29% APR, by monthly payment. While you decide, the balance costs about $7.95 per day in interest.
| Monthly payment | Time to $0 | Total interest | Total paid |
|---|---|---|---|
| $250/mo | 11 years 11 months | $25,609 | $35,609 |
| $300/mo | 5 years 9 months | $10,574 | $20,574 |
| $350/mo | 4 years 2 months | $7,189 | $17,189 |
| $450/mo | 2 years 9 months | $4,514 | $14,514 |
| $500/mo | 2 years 4 months | $3,828 | $13,828 |
Assumes no new charges and a fixed APR. Estimates only — not financial advice.
Run your exact numbers in the free calculatorOr track it live with bank sync — your first card is free at paydown.proAbout $7.95 per day in interest — roughly $238 a month before you've paid for anything new.
Every dollar above the minimum goes entirely to the balance. Moving from $250/mo to $500/mo cuts the payoff from 11 years 11 months to 2 years 4 months and saves $21,781 in interest.