How long to pay off $20,000 in credit card debt?
Paying only the minimum (about $617 a month at 24.99%), a $20,000 credit card takes about 4.5 years and costs $13,674 in interest. Adding $300 a month cuts that to 2.5 years and $6,947 in interest.
| You pay | Per month | Debt-free | Takes | Interest |
|---|---|---|---|---|
| Minimum only | $617 | Mar 2031 | 4.5 years | $13,674 |
| +$100 a month | $717 | Mar 2030 | 3.5 years | $10,266 |
| +$200 a month | $817 | Jul 2029 | 3 years | $8,269 |
| +$300 a month | $917 | Feb 2029 | 2.5 years | $6,947 |
| +$500 a month | $1,117 | Jul 2028 | 2 years | $5,293 |
At 24.99% APR, starting Sep 2026. The minimum is estimated the way most cards set it: 1% of the balance plus that month's interest. Your card's real rate and minimum are on your statement.
Why the minimum takes so long
A card minimum is mostly interest. On $20,000 at 24.99%, about $416 of the first $617 payment is interest, so only about $200 touches the balance. That's why every extra dollar matters: all of it goes to the balance.
Snowball or avalanche?
With more than one card, the snowball pays the smallest balance first for a quick win; the avalanche pays the highest rate first to save the most interest. The difference is often smaller than people expect, and a first card paid off early is what keeps people going.
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