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Credit Card Payoff Calculator

Minimum payments are designed to keep you in debt for decades. Run your balance both ways - minimum payment vs a fixed dollar payment - and see the gap.

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Most cards charge 1-3% of balance OR a $25-$35 floor, whichever is higher.

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Try the calculator with the largest payment you can sustain.

Why minimum payments are a trap

A $6,000 balance at 22.9% with a 2% minimum will take more than 25 years to pay off and will cost more than $11,000 in interest - almost double what you charged. Any fixed monthly amount above the minimum cuts that time dramatically.

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