Remember, the more you pay each month, the sooner you could pay off your debt and the lower your total interest cost should be.
If you have accumulated credit-card debt, you can use this calculator to estimate
how long it could take you to pay off that debt based on your payment amount.
This chart shows the number of years it would take you to pay off your balance based
on the information you provided. You can substantially reduce the time needed to
pay off your debt and your total interest paid by increasing monthly payments. If
you feel your credit card interest rate is too high, you may want to consider whether
you can transfer your balance to a lower-interest card.
Credit Card Balance Over Time