The honest numbers for a $7,500 credit card balance at 22% APR, by monthly payment. While you decide, the balance costs about $4.52 per day in interest.
| Monthly payment | Time to $0 | Total interest | Total paid |
|---|---|---|---|
| $188/mo | 6 years 1 month | $6,103 | $13,603 |
| $238/mo | 4 years | $3,795 | $11,295 |
| $288/mo | 3 years | $2,789 | $10,289 |
| $376/mo | 2 years 2 months | $1,922 | $9,422 |
| $388/mo | 2 years 1 month | $1,845 | $9,345 |
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 $4.52 per day in interest — roughly $136 a month before you've paid for anything new.
Every dollar above the minimum goes entirely to the balance. Moving from $188/mo to $388/mo cuts the payoff from 6 years 1 month to 2 years 1 month and saves $4,258 in interest.