Credit Card Payoff Calculator

About this credit card payoff calculator

Credit cards charge some of the highest interest rates in consumer lending, and paying only a small amount each month can stretch a balance out for years. This calculator shows exactly how long your balance will take to clear at a fixed payment and how much of what you pay is interest.

You can also flip the question: pick a payoff date and it tells you the monthly payment needed to be debt-free by then. It assumes you make no new purchases on the card while paying it down.

How to use the Credit Card Payoff Calculator

1. Enter your current balance and the card's APR.
2. Choose whether you want to pay a fixed amount or finish by a deadline.
3. Enter the payment or the number of months.
4. Compare the payoff time and total interest.

How payoff is calculated

Each month, interest equal to the balance × APR ÷ 12 is added and your payment is subtracted, until the balance reaches zero. Card issuers actually use the average daily balance, so real figures may differ slightly, but the pattern is the same.

Worked example

A $5,000 balance at 22.99% APR paid off at $200 a month takes about 35 months and costs roughly $1,870 in interest. Raising the payment to $300 cuts it to about 21 months and around $1,080 in interest.

Tips for better results

• Pay more than the minimum — minimum payments are designed to keep you paying for years.
• If you have several cards, pay the highest-APR card first (avalanche) or the smallest balance first (snowball) while paying minimums on the rest.
• A 0% balance transfer can save interest, but check the transfer fee and the rate after the promotion ends.

Frequently asked questions

This calculator provides estimates for planning only and is not financial advice. Confirm exact figures with your lender or a licensed professional.

Last reviewed: October 2026 · Results are calculated in your browser.