UNDER CONSTRUCTIONThe new moneywithmara.com is growing. Some pages are still being built.

Calculators · Debt

Paying off a credit card

Compound interest grows your savings. On a credit card, it grows what you owe. See how long your balance takes to pay off, and what it costs.

$
% a year
22.15% is the average on cards that charge interest (Federal Reserve, spring 2026). Your statement shows yours.
$
No new charges on the card while you pay it down.

Paying $150 a month on $5,000, you’re debt-free in

What you owe, month by month

Your paymentMinimum payment only

Follow the moneyHow to get to a million (the same math, working for you)Compound interestAPRDebt

"Minimum payment" uses a common card rule as an example: the month's interest plus 1% of the balance, at least $25. Card companies set their own rules, and your statement shows yours. Interest here is the APR divided by 12, charged monthly (cards usually charge it daily, so real costs can be a little higher). Education, not financial advice.

Source: Federal Reserve, Consumer Credit G.19 (released Oct. 7, 2026): interest rate on credit card plans, accounts assessed interest, 22.15% in the second quarter of 2026.