Find your path to a zero balance.
Compare your current payment with an extra-payment plan and a target payoff date.
Compare a payment with a deadline
The first two plans simulate your current fixed monthly payment and that payment plus an extra amount. The target plan estimates the fixed payment needed by your selected date.
A practical example
On a $5,000 balance at 22%, the first model month’s interest is about $91.67. A payment at or below this amount will not reduce the starting balance.
Method & assumptions
The model charges annual rate ÷ 12 on the outstanding balance, then applies each payment. Target payments use the number of whole monthly anniversaries from today through your target date, starting one month from today.
No new spending, annual fees, promotional rates or rate changes are included. Cards often calculate daily interest and use issuer-specific minimum-payment rules. These fixed-payment scenarios do not model a declining minimum payment.