If you pay $100 per month on a credit card bill of $5,000, you could spend as long as eight or nine years paying off this bill.

Name: If you pay $100 per month on a credit card bill of $5,000, you could spend as long as eight or nine years paying off this bill.
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Assuming an average credit card interest rate of around 20%, paying only $100 per month on a $5,000 balance would indeed take approximately 8 to 9 years to fully pay off the debt, due to the compounding interest charges.

If You Pay $100 Per Month on a Credit Card