Credit Card Payoff Calculator
See how long it takes to pay off credit card debt and how much interest you’ll pay.
Time to Payoff
Total Interest Paid
Total Amount Paid
How Credit Card Payoff Works
Credit cards charge interest based on your Annual Percentage Rate (APR). Each month, the card applies a monthly rate equal to your APR divided by 12 to your outstanding balance. Because that interest is added to the balance you still owe, you effectively pay interest on interest — this is compounding, and it is why carrying a balance can be so costly.
Why Small Payments Cost More
When your monthly payment is only slightly above the interest charged, almost none of it goes toward the principal. The balance barely moves, so the same high interest is charged again next month. If your payment is at or below the monthly interest, the balance never shrinks and the debt is never paid off. Paying even a little extra each month dramatically shortens the payoff time and reduces total interest.
Two Ways to Plan
Use Fixed monthly payment mode to see how long it takes to clear your balance at a given payment. Use Payoff in N months mode to find the monthly payment required to be debt-free by a target date. Both reveal the total interest you will pay along the way.
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Disclaimer: This calculator provides estimates for educational purposes only. Results assume a fixed APR and do not account for fees, penalty rates, changes in your balance, or minimum payment rules set by your issuer. Consult your card agreement or a qualified financial advisor before making decisions.