Credit Card Payoff Calculator

If your payment is less than the monthly interest, the balance never falls — the tool warns you.

Each month interest (APR ÷ 12) is added, then your payment is subtracted. The tool repeats until the balance reaches zero.

It assumes a fixed APR and payment with no new spending or fees. Real cards may change rates, add fees and recalculate minimum payments monthly.

A 5,000 balance at 19.99% paying 200/month clears in about 32 months with roughly 1,300 interest.

1. Enter your balance and APR.
2. Enter your planned monthly payment.
3. Press Calculate.

• Paying only the minimum, which can take years and cost heavily in interest.

Find out how many months it takes to clear a credit card balance at a fixed monthly payment, and how much interest you will pay.

Cardholders carrying a balance who want to know how long payoff takes and how much interest a fixed payment really costs.

• See your real payoff timeline at a fixed payment.
• Reveal the total interest a balance will cost.
• Motivate paying more than the minimum.

• Planning to clear a card before a big purchase.
• Comparing the effect of a higher monthly payment.
• Understanding why minimum payments take years.