The honest numbers for a $5,000 credit card balance at 22% APR, by monthly payment. While you decide, the balance costs about $3.01 per day in interest.
| Monthly payment | Time to $0 | Total interest | Total paid |
|---|---|---|---|
| $125/mo | 6 years 1 month | $4,095 | $9,095 |
| $175/mo | 3 years 5 months | $2,147 | $7,147 |
| $225/mo | 2 years 5 months | $1,481 | $6,481 |
| $250/mo | 2 years 2 months | $1,286 | $6,286 |
| $325/mo | 1 year 7 months | $928 | $5,928 |
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 $3.01 per day in interest — roughly $90 a month before you've paid for anything new.
Every dollar above the minimum goes entirely to the balance. Moving from $125/mo to $325/mo cuts the payoff from 6 years 1 month to 1 year 7 months and saves $3,166 in interest.