The honest numbers for a $15,000 credit card balance at 29% APR, by monthly payment. While you decide, the balance costs about $11.92 per day in interest.
| Monthly payment | Time to $0 | Total interest | Total paid |
|---|---|---|---|
| $375/mo | 11 years 11 months | $38,413 | $53,413 |
| $425/mo | 6 years 9 months | $19,118 | $34,118 |
| $475/mo | 5 years 1 month | $13,653 | $28,653 |
| $575/mo | 3 years 6 months | $8,971 | $23,971 |
| $750/mo | 2 years 4 months | $5,743 | $20,743 |
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 $11.92 per day in interest — roughly $358 a month before you've paid for anything new.
Every dollar above the minimum goes entirely to the balance. Moving from $375/mo to $750/mo cuts the payoff from 11 years 11 months to 2 years 4 months and saves $32,671 in interest.