Credit Card Payoff Calculator
See how long it could take to pay off your credit card balance
and how much interest you could pay.
Enter your current balance, interest rate and planned monthly
payment in the white box. The green box shows your estimated
payoff time, total interest and total amount repaid.
What to calculate next?
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How the Credit Card Payoff Calculator works
The calculator estimates how long it could take to repay your credit card balance when you make the same payment each month.
Interest is calculated monthly using the APR you enter. Each monthly payment first covers the interest charged, with the remaining amount reducing the outstanding balance.
If your monthly payment is too low to cover the interest being charged, the calculator will warn that the balance will not be paid off at that payment amount.
This is a simplified estimate for planning purposes. Actual credit card interest can vary because of daily interest calculations, fees, purchases, promotional rates and changes to your APR.
Why does a small credit card payment take longer to pay off?
When interest is charged each month, only the portion of your payment remaining after interest reduces the balance. A higher fixed payment generally shortens payoff time and reduces total interest. If your payment does not cover the monthly interest, the balance may not decrease under this simplified model.