How Long to Pay Off a $5,000 Credit Card
Payoff time and total interest at a 22% APR by monthly payment.
Payoff by Monthly Payment (at 22% APR)
| Monthly payment | Time to pay off | Total interest |
|---|---|---|
| $100/mo | 11 yrs 5 mos (137 mo) | $8,678 |
| $150/mo | 4 yrs 4 mos (52 mo) | $2,798 |
| $200/mo | 2 yrs 10 mos (34 mo) | $1,750 |
| $300/mo | 1 yr 9 mos (21 mo) | $1,022 |
| $500/mo | 1 yr (12 mo) | $574 |
| $750/mo | 8 mos (8 mo) | $383 |
| $1,000/mo | 6 mos (6 mo) | $294 |
| Minimum only (2%) | 68 yrs 1 mo (817 mo) | $35,958 |
Higher payments clear the balance faster and cut total interest. The minimum-payment row shrinks each month, which is why it takes so long.
The Minimum-Payment Trap
Paying only the minimum (about 2% of the balance, which falls as you pay down) would take 68 yrs 1 mo and cost about $35,958 in interest on this $5,000 balance. Paying a fixed amount each month instead is dramatically faster and cheaper.
Last reviewed: November 2026
Data sources: Standard monthly-compounding credit card interest; Representative 22% APR (near the US average).
Disclaimer: Estimates use a fixed 22% APR and monthly compounding. Your card's APR, fees and minimum-payment formula may differ. Not financial advice.