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$2,000 Credit Card Payoff Calculator
Estimate months to be debt-free from $2,000. Stop paying minimums.
Card Details
$
%
$
Paying $60/mo
Debt-Free In
50months(4.2 years)
Total PrincipalTotal Interest
$2,000.00+$943.64
Total Cost of Debt
$2,943.64
You will pay $943.64 in interest fees.
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Analysis: $2,000 Balance
Paying only the minimum (~$40) on a $2,000 balance will keep you in debt for over 10 years. Aim for at least $60-$80/month.
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Frequently Asked Questions
How long to pay off $2,000?
With a monthly payment of $60, it will take approximately 50 months to pay off $2,000 at 20% APR.
How much interest will I pay on $2,000?
At 20% APR, you are paying roughly $33 in interest alone every single month. To make progress, your payment must exceed this amount.
Is it better to pay minimum or extra?
Always pay extra. Paying only the minimum (~2%) typically extends your debt timeline to 15-20 years. Doubling the minimum often cuts that to 3-5 years.