Debt payoff · Free calculator

Pay off your credit card in 12 months

To clear $5,000 at 22% APR in 12 months you need about $468/mo, costing $616 in interest. Enter your balance to get your exact payment.

Short answer

Pay off your credit card in 12 months

$468Monthly payment needed

Pay $468 every month and $5,000 at 22% is gone in 12 months. Stop adding new charges, or the date slips.

How it's calculated: $616 total interest over 12 months · debt-free by October 2027 Adjust the inputs below to recalculate for your own numbers.

Disclaimer: Educational estimate, not financial advice. Assumes a fixed APR, interest compounding monthly, no new charges and no fees. Your lender's statement is the final word.

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Balance owed ($)$5,000

APR (%)22

Months to debt-free12

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Formula used

Fixed-payment formula

The same formula lenders use for installment loans.

Payment = B × r ÷ (1 − (1 + r)^−n), r = APR/12

$5k in 12 mo

$468

$10k in 12 mo

$936

APR assumed

22%

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RevenueLab. (2026). Pay off your credit card in 12 months. Retrieved from https://www.revenuelab.fyi/pay-off-credit-card-in-12-months

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Source: [Pay off your credit card in 12 months — RevenueLab](https://www.revenuelab.fyi/pay-off-credit-card-in-12-months) (2026).

Why a deadline helps

A fixed date turns "pay more" into a specific number. At 22% APR, $5,000 needs $468/mo to be gone in 12 months. The Federal Reserve G.19 report put the average APR on credit card accounts assessed interest at roughly 22% in 2025.

FAQ

How much do I pay to clear $5,000 in 12 months?

About $468/mo at 22% APR.

What if I can't afford that payment?

Stretch the timeline in the calculator, or lower the rate with a balance transfer or a lower-APR personal loan, then keep paying the same amount.

How this calculator is built

Independently maintained

Written by Sam Doshi and the RevenueLab editorial team. We don't sell the data feeds this tool is built on.

Sourced from primary data

Benchmarks come from public AdSense / Stripe / IRS disclosures and reader-submitted data — never third-party "$X per view" claims. Full methodology.

Last editorial review

Reviewed on a rolling quarterly cycle. Dated reviews are published on the methodology record for each calculator.

Editorial standards

See our editorial policy and disclaimer. Results are estimates, not advice.

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