Credit Card Payoff Calculator

How many months until this card is gone — and what the interest really costs.

FREE TOOL · WORKS OFFLINE · NO SIGN-UP

Results update instantly as you type. Assumes no new spending on the card.

Months to pay off
—
That is
—
Total interest
$0
Total you will pay
$0

💳 How to Use This Credit Card Payoff Calculator

  1. 1.Enter your current balance. The full amount owed on the card today.
  2. 2.Enter the APR. It is printed on your statement — many rewards cards run 20% or higher.
  3. 3.Set a fixed monthly payment. Use an amount you can pay every single month, not just in a good month. Fixed payments clear cards far faster than minimum payments.
  4. 4.Read the payoff time and total interest. The interest figure is the true cost of carrying the balance.
  5. 5.Test a higher payment. Adding even $50 a month usually cuts months off the timeline and saves hundreds in interest — try it above and compare.

❓ FAQ

How is credit card payoff time calculated?

Each month, the card charges interest on the remaining balance at the monthly rate (APR ÷ 12), and the rest of your payment reduces the balance. This calculator repeats that month by month with a fixed payment until the balance reaches zero, then reports the months and the total interest.

Why does a small payment take so long to clear a card?

At a 22% APR, a $5,000 balance costs about $92 of interest in the first month alone. A $200 payment clears that interest and removes only about $108 of balance. As long as the payment stays close to the monthly interest charge, the balance shrinks slowly and the interest keeps adding up.

What if my payment is less than the monthly interest?

Then the balance grows instead of shrinking, even though you pay every month — this is called negative amortization. The calculator warns you when your payment does not cover the interest, because at that payment the card can never be paid off.

Is this credit card payoff calculator free?

Yes — 100% free, no sign-up, no limits. Everything runs in your browser; none of your numbers are uploaded or saved.

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