How to pay off credit card debt faster
Credit card interest compounds monthly, so a high APR can keep you stuck paying mostly interest. The fix is simple: pay more than the minimum. Even a small increase to your monthly payment can cut months — sometimes years — and hundreds in interest off your payoff.
- Always pay more than the minimum if you can.
- Tackle the highest-APR card first (avalanche) to save the most interest.
- Ask for a lower APR or use a 0% balance-transfer offer if you qualify.
Frequently asked questions
Why is my balance barely going down?
If your payment is close to the monthly interest, almost all of it goes to interest, not the balance. Increase the payment to make real progress.
What if my payment is too low?
If your monthly payment doesn't cover the interest, the balance grows and the card never gets paid off. The calculator will warn you.
Is this exact?
It's a close estimate assuming a fixed APR and payment. Real cards vary with fees and rate changes.