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$5,000 Credit Card Payoff Calculator
See exactly when you will pay off $5,000. Visual debt-free date estimator.
Card Details
$
%
$
Paying $150/mo
Debt-Free In
50months(4.2 years)
Total PrincipalTotal Interest
$5,000.00+$2,359.09
Total Cost of Debt
$7,359.09
You will pay $2,359.09 in interest fees.
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Analysis: $5,000 Balance
$5,000 is the average household credit card debt. At 20% APR, this debt costs you $1,000/year in interest alone.
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Frequently Asked Questions
How long to pay off $5,000?
With a monthly payment of $150, it will take approximately 50 months to pay off $5,000 at 20% APR.
How much interest will I pay on $5,000?
At 20% APR, you are paying roughly $83 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.