About the Credit Card Payoff Calculator
This credit card payoff calculator answers two questions. In the first mode you enter your balance, the card's interest rate (APR) and what you can pay each month, and it tells you how long it will take, the payoff month and how much interest you will pay. In the second mode you pick a number of months and it works out the monthly payment needed to be debt-free by then. It adds interest every month and assumes you make no new purchases and the rate stays the same. If your payment does not even cover the monthly interest, it says so.
Updated October 2026
How to use the Credit Card Payoff Calculator
- 1Choose whether you want the payoff time or the payment needed.
- 2Enter your card balance and APR.
- 3Enter your monthly payment, or the number of months you want to take.
- 4Read the time, payoff month, total interest and total paid.
- 5Press Copy result to save the plan.
Why card debt is slow to clear
Card interest rates are often above 20 percent. When a large part of each payment goes to interest, the balance falls slowly, and paying only the minimum can take many years. Seeing the total interest alongside the payoff time makes the true cost visible and shows how much faster a slightly higher payment can be.
Ways to pay off faster
- Pay more than the minimum, even a small amount
- Target the card with the highest APR first
- Look for a lower-rate balance transfer, checking any fee
- Cut up new spending until the balance is gone
- Put windfalls like tax refunds straight onto the balance
Using the two modes
Use the time mode to see where a payment you can afford leads. Use the payment mode to set a goal, such as being debt-free in two years. The second mode gives the level payment that clears the balance in exactly the months you pick, so a small rounding difference in the last payment is normal.
Related tools
For several debts use the Debt Payoff Calculator, for a loan with a set term the Loan Calculator, and for a fuller view of what you can afford the Budget Calculator. The Debt-to-Income Calculator shows how card payments affect borrowing, and the Compound Interest Calculator shows interest working for you.
Features
- Time to payoff at a fixed monthly payment
- Payment needed to be debt-free in a chosen number of months
- Payoff month and year
- Total interest and total paid
- Warning when the payment does not cover the interest
- Currency symbol picker
- Runs in your browser
Frequently asked questions
How long will it take to pay off my credit card?
Enter the balance, the APR and your monthly payment. For example, 5,000 at 22 percent with 200 a month takes about 34 months and costs roughly 1,750 in interest. The calculator shows your own figures, and the payoff month.
How is credit card interest calculated?
Card interest is typically charged on your balance each month at one-twelfth of the APR, then added to what you owe. This calculator follows that method: each month it adds interest to the balance, then subtracts your payment, until the balance reaches zero.
Why does the calculator say my payment is too low?
If your payment is no more than the monthly interest, the balance never falls. A 5,000 balance at 22 percent costs about 92 a month in interest, so a payment of 90 would never clear it. The message shows the monthly interest so you know the minimum to beat.
How much extra should I pay each month?
Any amount above the minimum shortens the payoff and cuts interest, because it reduces the balance that interest is charged on. Try raising the payment by 25 or 50 and compare the results. Paying a fixed amount each month, even as the minimum falls, is a simple and effective approach.
Does it work for several cards?
Calculate each card separately. A common approach is to pay the minimum on all cards and put the extra on the one with the highest interest rate. The Debt Payoff Calculator is designed for planning across several debts.
Does the date shown take new purchases into account?
No. The estimate assumes you stop using the card and the rate stays fixed. New spending, late fees, promotional rates that end and rate changes will all alter your real payoff date.