Credit Card Payoff Calculator

Estimate months to pay off a balance and total interest

See roughly how long it'll take to pay off a credit card balance with a fixed monthly payment, and how much interest you'll pay along the way. Useful for picking a payoff strategy.

$
%
$

Months to Pay Off

33

Total Interest

$1,521.02

Total Paid

$6,521.02

How to Use This Calculator

  1. Enter your current card balance.
  2. Enter the annual percentage rate (APR) on the card.
  3. Enter the monthly payment you plan to make.
  4. Review the estimated months to payoff and total interest.

Why Use This Calculator?

  • Seeing whether your current payment will ever clear the balance.
  • Comparing a minimum payment with a higher fixed payment.
  • Motivating yourself to pay more than the minimum.

Real-World Examples

$5,000 balance, 19% APR, $200/month

At that rate and payment, payoff takes about 32 months with roughly $1,400 in interest — far faster and cheaper than paying only the minimum.

Why minimums drag on

Credit card interest is charged on the remaining balance each month. If your payment barely covers the interest, the balance drops slowly and interest piles up. Paying more than the minimum dramatically shortens the timeline.

Frequently Asked Questions

What if my payment is less than the interest?

The balance would grow rather than shrink, and the calculator will warn you that the balance can't be paid off at that payment level.

Does it account for new purchases?

No. This assumes you stop adding to the balance and pay a fixed amount each month.

Why is the APR so important?

A high APR means a large share of each payment goes to interest. A lower-rate card or a balance transfer can shorten payoff considerably.

Important Disclaimer

Estimates assume a fixed payment and no new charges. Actual terms, fees, and minimum-payment rules vary by card. This is not financial or credit advice.

Privacy

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