Credit Card Payoff Calculator
Enter your balance, APR and monthly payment to see when the debt disappears. You can also flip it: tell us how many months you want, and we tell you what to pay.
Time to pay off
2 years, 9 months
Assuming no new purchases on the card.
- Total interest
- $1,342.62
- Total paid
- $4,842.62
- Estimated payoff date
- May 2029
What if you paid $50 more a month? You would save $444.54 in interest and finish 11 months earlier.
How your balance drops
Estimate assuming a fixed APR, no new purchases and the same payment every month. Issuers use average daily balances and may add fees, so your statement can differ.
Related tools
About this calculator
How it works
Each month interest is added to the balance: interest = balance × (APR ÷ 12 ÷ 100). Your payment covers that interest first, and whatever remains reduces the principal.
The calculator repeats that cycle month by month until the balance reaches zero, counting months and accumulating interest paid.
In target mode it uses the amortization formula to find the fixed payment that clears the balance in the number of months you choose.
Example
A $3,500 balance at 24.99% APR paying $150 per month takes about 33 months and costs roughly $1,400 in interest.
Raise the payment to $250 and the debt clears in about 17 months, with less than half the interest.
Important limitations
- It assumes no new purchases on the card and a fixed APR.
- Late fees, annual fees, insurance products and 0% promotions are not considered.
- Issuers use average daily balances, so your statement may differ by a few dollars.
Learn more
Guides explaining the context behind this calculation.
Frequently asked questions
This calculation runs in your browser and is never sent to a server. Your last values may be saved on your device only, for convenience. Results are estimates and are not financial, tax, accounting or legal advice.