Credit Card Payoff Calculator
See how fast a fixed payment clears your card.
How to use
- 1 Enter your current credit card balance.
- 2 Enter the card’s APR as a percentage.
- 3 Enter the fixed amount you will pay each month.
- 4 Read the payoff time, total interest and total paid.
About Credit Card Payoff Calculator
The Credit Card Payoff Calculator shows the real cost of carrying a balance.
Enter your current balance, the card’s APR and the fixed amount you plan to pay each month, and it works out exactly how long the debt will take to clear and how much interest you will hand over along the way.
Credit cards compound interest monthly, so a minimum-style payment can keep you in debt for years.
Each month the calculator adds one-twelfth of your APR to the balance, then subtracts your payment, repeating until the balance reaches zero.
The final month’s payment is automatically trimmed to whatever is left, so the totals reflect what you would actually pay rather than an overpayment.
You will see the payoff time broken into years and months, the total interest, and the grand total paid — a clear picture of how a slightly larger monthly payment can save months of payments and a chunk of interest.
If your payment is too small to cover even the first month’s interest, the tool tells you straight away, because in that case the balance would only grow.
Everything runs locally in your browser.
Your figures are never uploaded or stored, so it is private and works offline once the page has loaded.
Results are estimates for planning, not financial advice.
FAQ
Why does my payment need to cover the first month’s interest?
If the monthly payment is smaller than the interest charged that month, the balance grows instead of shrinking, so the debt would never be paid off. The calculator flags this and asks you to increase the payment.
Does it assume I keep adding new charges?
No. It assumes you stop using the card and make the same fixed payment each month. Adding new purchases would extend the payoff time and increase the interest.
Is the interest calculation exact?
It uses standard monthly compounding at APR ÷ 12, which is how most cards work. Real statements can vary slightly due to daily compounding and fees, so treat the result as a close estimate.