Credit Card Payoff Calculator
Find out how long it will take to pay off your credit card balance and how much interest you will pay.
Results
What is it?
This calculator tells you exactly how many months (and years) it will take to eliminate a credit card balance when you make a fixed monthly payment. It also reveals the total interest you will pay over that period.
How to use
Enter your current card balance, the APR listed on your statement, and the fixed monthly payment you can commit to. The results show the payoff timeline and total interest cost.
Example scenario
With a $5,000 balance at 22.99 % APR and $200/month payments, you will be debt-free in about 32 months and pay roughly $1,300 in interest.
Pro tip
Paying even $50 extra per month can shave months off your payoff timeline and save hundreds in interest. Consider balance-transfer cards with 0 % promotional APR to accelerate debt reduction.