Credit Card Payoff Calculator
Enter your card balance, APR and the amount you can pay every month to see your payoff date and total interest.
When to use this calculator
Use this calculator to see the true cost of carrying a credit card balance. Card interest rates are high, so a balance can take years to clear if you only pay a small amount. Try different payments to see how fast the date moves.
Example payoff times
How this calculator works
Each month interest is charged on the remaining balance (APR divided by 12) and your payment pays that interest first, with the rest reducing the balance. We solve for the number of months until the balance reaches zero, assuming you add no new purchases.
Step-by-step example
Using these inputs: Card balance ($): 5000; APR (%): 22; Monthly payment ($): 200.
A $5,000 balance at 22% APR with a $200 monthly payment takes 34 months, about 2.8 years, and costs $1,750 in interest, for a total of $6,750.
Tips for a better estimate
- Stop adding new charges while you pay the balance down, or the payoff date keeps moving away.
- Round your payment up. Even $25 more each month can cut months and interest.
- Check whether a lower-rate personal loan or balance transfer would cost less, after fees.
FAQ
Why does it say payment too low?
If your payment is not larger than the monthly interest, the balance never goes down.
What if I keep using the card?
New purchases add to the balance, so the real payoff time will be longer.
How can I pay off faster?
Pay more than the minimum every month. Even a small increase saves a lot of interest.
How is credit card interest calculated?
Most cards charge interest on your daily balance at one-365th of the APR each day, which is added monthly. This calculator uses a standard monthly estimate.
Why does the minimum payment take so long?
The minimum is often only a little more than the monthly interest, so very little reduces the balance.
Will paying off a card improve my credit score?
Lower balances usually help your credit utilization, which is one factor in your score, but scores depend on many things.
Rates and limits last updated: October 2026. This is an estimate for general information only, not financial, tax or legal advice.
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