Credit Card Payoff Calculator
See your estimated credit card payoff time and interest, compare extra payments, or find the payment for your payoff goal.
Your plan
Amounts use US dollars and up to two decimal places. APR must be entered, including 0 for zero interest. Blank optional payments mean no additional payment.
Balances, rates, payments and results stay in this browser tab. They are not uploaded, saved or automatically included in feedback. Refreshing clears entries.
Your payoff estimate
Enter your balance, APR and payment or payoff goal to see an estimate.
How it works
- Enter your current balance and APR, including 0 for a zero-interest calculation.
- Choose a monthly payment to estimate payoff time, or enter a payoff goal in months or by date.
- Optionally compare an extra monthly payment or apply a one-time payment now in the payoff-time mode.
- Review the estimate, expand the monthly schedule to check the numbers, or copy a concise summary.
A real example
Fictional example: a $5,000 balance at 24.99% APR with a fixed $150 monthly payment takes 58 monthly periods, or 4 years 10 months, in this model. Estimated interest is $3,622.26 and total paid is $8,622.26. The last payment is $72.26, not another full $150.
Adding $50 makes the total monthly payment $200. That clears the same balance in 36 months with $2,135.18 interest: 22 months sooner and $1,487.08 less interest. No purchases, fees or rate changes are included. These are example calculations, not a recommendation for your finances.
How credit card interest affects payoff time
APR is an annual percentage rate. This credit card repayment calculator uses a monthly periodic rate of APR ÷ 100 ÷ 12. Each period, it multiplies that rate by the remaining balance and rounds interest to the nearest cent. Payment covers that interest first; the rest reduces the balance.
A larger fixed payment generally reduces the balance sooner, leaving less balance on which to charge future interest. At 0% APR, payments reduce principal without interest. A final partial payment clears only the remaining balance and that period’s interest; the tool does not multiply the month count by your usual payment.
When a payment is too low
If your payment does not exceed the first month’s cent-rounded interest, the balance cannot decline under this fixed-payment model. The calculator shows the interest threshold instead of inventing a payoff date. That threshold is not your card issuer’s required minimum payment.
An actual statement minimum may change as your balance and account terms change. Here, “Monthly payment” means the fixed amount you enter for planning. Issuer-specific minimum-payment formulas, changing APRs and multiple balances are not modeled.
Find a payment for a payoff goal
For a positive monthly rate r and n payment periods, the starting estimate is balance × r ÷ (1 − (1 + r)−n). At 0% APR, it is balance ÷ n. The engine then finds a payment in whole cents and verifies it against the same rounded monthly schedule, so the balance reaches exactly $0.00 within your goal.
You can estimate a payment to pay off a credit card in 12 months, 24 months or another positive whole number of periods. A small balance may clear sooner because payments cannot be fractions of a cent.
For a target date, only its calendar month matters. The first monthly payment is assumed to occur next month. A target in next month means one period; the same month next year means 12. Estimated payoff dates show month and year, not an assumed statement closing day or payment due date.
What a one-time payment changes
A one-time payment now reduces the starting balance before interest is calculated. For the same fictional $5,000 example, a $1,000 payment now leaves $4,000 to repay. At $150/month and 24.99% APR, that remaining balance takes 40 periods with $1,898.37 interest. Total paid includes the $1,000 payment now.
If the one-time payment equals your balance, the tool reports immediate payoff with no monthly schedule. It rejects an amount above the current balance instead of creating a negative balance. An extra monthly payment is separate: it is added to your base payment every month, not deducted just once.
Why your statement may differ
This estimate assumes no new purchases, fees, APR changes, or additional charges. It uses monthly interest with end-of-period payments and cent rounding, not a daily-balance simulation. The Consumer Financial Protection Bureau explains that many issuers calculate interest daily using average daily balances. Your account’s calculation and payment timing can therefore produce different results.
Use this as an educational planning estimate, not individualized financial advice or a prediction of an exact future statement. This tool does not connect to banks, recommend cards or decide which debt you should repay first.
Frequently asked questions
How long will it take to pay off my credit card?
Enter your balance, APR and a fixed monthly payment. The calculator estimates the payment periods, total interest and payoff month. If the payment cannot reduce the balance or exceeds the model’s 1,200-period limit, it explains the problem instead of showing an unsupported payoff.
Does extra payment replace my monthly payment?
No. Extra is added to the base monthly payment. With $150 as the base and $50 extra, the comparison uses $200/month. Blank or zero extra does not show a redundant comparison.
Can I calculate a zero-interest payoff?
Yes. Enter APR as 0. No interest is charged, and the final payment may be smaller than your usual monthly payment.
Is this calculating my minimum payment?
No. It uses the fixed monthly amount you enter. Your issuer’s statement minimum and its formula can differ and may change over time.
How do target dates work?
Dates are converted into monthly periods from the current local month, assuming the first payment next month. The selected day is ignored. Pick a month at least one month ahead; this does not know your actual due date.
How are money and rounding handled?
Amounts are entered in US dollars with up to two decimal places, up to $999,999,999,999.99. Money is calculated in integer cents. Each month’s interest rounds half-up to cents; payment equals interest plus principal, and the final ending balance is $0.00. APR accepts up to six decimal places. The model stops after 1,200 monthly periods (100 years).
Can I see both payoff schedules?
The expandable schedule shows the plan with extra payment when that plan pays off, or the current plan otherwise. Turn extra off to inspect the base schedule. Copy Results provides a summary, not the entire schedule.
Are my balances or results uploaded?
No. Inputs, schedules and results remain in browser page memory, and refreshing clears them. Copy Results uses your clipboard or a manual-copy fallback. Feedback does not automatically include financial inputs or calculated results.
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