The honest numbers for a $7,500 credit card balance at 29% APR, by monthly payment. While you decide, the balance costs about $5.96 per day in interest.
| Monthly payment | Time to $0 | Total interest | Total paid |
|---|---|---|---|
| $188/mo | 11 years 8 months | $18,693 | $26,193 |
| $238/mo | 5 years 1 month | $6,789 | $14,289 |
| $288/mo | 3 years 6 months | $4,471 | $11,971 |
| $376/mo | 2 years 4 months | $2,860 | $10,360 |
| $388/mo | 2 years 3 months | $2,729 | $10,229 |
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 $5.96 per day in interest — roughly $179 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 11 years 8 months to 2 years 3 months and saves $15,964 in interest.