Debt
How to Pay Off Credit Card Debt
A step-by-step plan to get rid of credit card debt: stop the growth, pick a payoff strategy, and see exactly when you'll be free.
· 3 min read
Watch the full explanation
60-second read
The Real Cost of Minimum Credit Card Payments
See the breakdownThe full explanation: The Real Cost of Minimum Credit Card Payments
Explainers
The brutal math of compound interest on a card balance — and the step-by-step plan that gets you out faster than you think.
The key numbers
Typical APR
20%+
Credit card interest routinely eclipses any return you could earn investing.
A $4,000 balance
Decades
Minimum payments alone can extend the payoff across a generation.
Interest multiply
2–3×
Total interest can end up larger than the original balance.
Try the tool
🧾 Debt Payoff Calculator
How long until this debt is gone — and at what cost? Put your own numbers in and see the result instantly — it runs entirely in your browser.
Frequently asked questions
At card rates, min payments mostly feed interest — the balance shrinks so slowly that total interest often dwarfs the original purchase. It's the slowest and most expensive way to handle a balance, and it's why a plan with a date matters.
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How long until this debt is gone — and at what cost?
What share of your income do you actually keep?