Credit Card Payoff Calculator
Estimate how long a fixed monthly payment will take to clear your credit card balance, and how much of what you pay goes on interest.
Assumes no new purchases or fees, a fixed APR, and the same payment every month. Interest is estimated monthly as balance × APR ÷ 12; most issuers calculate it on your average daily balance, so your statement will differ slightly. This is an estimate, not financial advice.
2 years 11 months
Estimated payoff time
$1,859.78
Total interest
$6,859.78
Total paid
35 monthly payments — interest adds 37% on top of the original balance.
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How to use credit card payoff calculator
- 1Enter your current card balance.
- 2Enter the card's APR (purchase rate) from your statement.
- 3Enter how much you plan to pay each month.
- 4Read the payoff time, total interest and total amount paid.
About this tool
Each month the calculator adds interest at your APR ÷ 12, subtracts your payment, and repeats until the balance reaches zero — the same month-by-month approach lenders use for a fixed payment. It assumes you make no new purchases, the rate doesn't change, and no fees or penalty rates apply.
If your payment is less than or equal to the first month's interest, the balance never goes down. Instead of showing a misleading answer, the calculator tells you how much interest is being added each month so you know the minimum needed to make progress.
Card issuers usually charge interest on your average daily balance and may change your rate, so your statements will differ slightly from these figures. Treat the results as an estimate to compare payment amounts — not as financial advice. If you're struggling with repayments, free debt advice services are available in most countries.
Frequently asked questions
Interest is charged on whatever balance is left, so anything above the interest charge reduces the balance faster, which in turn lowers next month's interest. On a $5,000 balance at 22.9% APR, going from $150 to $250 a month cuts the payoff time by more than half.
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