Credit Card Payoff Calculator
A fixed monthly payment clears your card balance faster than paying the minimum. Enter the balance, APR and payment amount to see the months to debt-free, total interest and total paid. Raise the payment and watch the interest shrink.
How to use
- Enter the card balance and APR.
- Enter the fixed amount you can pay every month.
- See the months, total interest, and total paid.
- Try a higher payment and see how much interest you save.
Tips
- Paying even a small fixed amount above the minimum shortens the payoff by months.
- Put any extra payment toward the highest-APR card first when you carry more than one balance.
- Re-run the numbers after each payment to see the finish line move closer.
- The plan assumes no new purchases; new spending restarts the interest clock.
Note
This calculation assumes no new spending. Stop new purchases on the card or the balance will grow again. The minimum payment is only about 5%, which keeps the debt going for years.
Related tools
- Credit Card Payoff Planner — Plan your credit card payoff with months to debt free, total interest, payoff date and extra payment savings.
Frequently Asked Questions (FAQ)
What does this credit card payoff calculator do?
It shows how many months it takes to clear your card balance with a fixed monthly payment and how much total interest you will pay.
What payment does it assume?
A fixed monthly payment on the card balance and APR you enter. It then shows how many months it takes to clear the balance and how much total interest you pay.
Can I compare different payment amounts?
Yes. Try a higher monthly payment to see how many months you save and how much interest you avoid.
Does it include new purchases?
No. It models only the starting balance, APR, and monthly payment you enter — new purchases during the payoff period are not included.