The honest numbers for a $5,000 credit card balance at 29% APR, by monthly payment. While you decide, the balance costs about $3.97 per day in interest.
| Monthly payment | Time to $0 | Total interest | Total paid |
|---|---|---|---|
| $125/mo | 11 years 11 months | $12,804 | $17,804 |
| $175/mo | 4 years 2 months | $3,595 | $8,595 |
| $225/mo | 2 years 9 months | $2,257 | $7,257 |
| $250/mo | 2 years 4 months | $1,914 | $6,914 |
| $325/mo | 1 year 8 months | $1,328 | $6,328 |
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 $3.97 per day in interest — roughly $119 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 11 years 11 months to 1 year 8 months and saves $11,476 in interest.