Credit Card Payoff Calculator
A fixed monthly payment chips a card balance down over time. The higher the APR, the more of each payment goes to interest instead of the debt itself.
Enter your balance, the APR, and your monthly payment. You get the payoff time and the interest you'll pay along the way.
Card details
Must exceed the monthly interest, $91.67 at this balance and APR, or the balance never shrinks.
Your payoff
- Debt-free in
- 2 yr 10 mo
- Total interest
- $1,749.88
- Total paid
- $6,749.88
34 months
The chain breaks as the payoff shortens, 2 yr 10 mo at this payment
Where your payments go, month by month
Paying $200.00 per month clears the balance in 2 yr 10 mo: $5,000.00 toward the balance itself plus $1,749.88 in interest.
Totals every 6 months
| Month | Balance paid to date | Interest to date |
|---|---|---|
| 6 | $680.53 | $519.47 |
| 12 | $1,439.43 | $960.57 |
| 18 | $2,285.74 | $1,314.26 |
| 24 | $3,229.51 | $1,570.49 |
| 30 | $4,281.97 | $1,718.03 |
| 34 | $5,000.00 | $1,749.88 |
Before you rely on this
Results are generic estimates using standard time-value-of-money formulas, the same math everywhere. Real-world figures depend on your country's tax rules, rounding, fees, and lender or product terms, which vary by jurisdiction. Treat this as a guide and confirm important numbers with a local professional.
How the credit card payoff calculation works
Each month the card charges interest: the balance times the monthly rate (APR ÷ 12). Your payment covers that interest first, and what's left reduces the balance. A smaller balance accrues less interest, so the payoff speeds up as you go.
If your payment is below the first month's interest, the balance grows instead of shrinking and the debt never clears. Paying above the minimum is what breaks the cycle.
Tips
- Pay more than the minimum. The minimum is designed to keep you in debt for years.
- A 0% balance-transfer card can pause the interest while you clear the debt.
- Windfall came in? Send it to the highest-APR card first.
Frequently asked questions
How long will it take to pay off my card?
It depends on the balance, the APR, and your monthly payment. Enter those three numbers and the calculator shows the exact payoff time and the total interest.
Why does my balance barely move?
At a high APR, most of a small payment goes to interest, leaving little for the debt itself. Raise the payment and suddenly most of your money attacks the balance.
What happens if I only pay the minimum?
The debt stretches over years and the interest piles up. On some balances the minimum barely covers the interest, so the balance hardly drops at all.