Credit Card Payoff Calculator

See how long it takes to pay off your card and how much interest it costs, or the payment you need to be done by a certain month.

What Do You Want to Find?
$
$
$
Leave at 0 if you stop using the card.
Fractions and decimals both work.
–
To Pay Off
Monthly payment
Total interest
Total paid
First month interest
Debt-free
Interest per Dollar Borrowed

Payoff Plans

Items you add are saved in this browser.

PlanPaymentMonthsInterestRemove

How Long to Pay Off a Credit Card

Each month the card charges interest on the balance, and your payment covers that interest first. Whatever's left pays down the balance. The higher the rate and the smaller the payment, the longer it takes.

Monthly interest = balance × APR ÷ 12
Months to pay off = −ln(1 − r × balance ÷ payment) ÷ ln(1 + r)   (r = APR ÷ 12)
Payment to finish in n months = balance × r ÷ (1 − (1 + r)−n)

Card issuers actually charge interest on the average daily balance, so real statements differ slightly. This page uses the monthly rate, as most payoff calculators do.

Worked Example

Tips

If the payment doesn't cover the monthly interest, the balance never goes down. Paying even a little more than the minimum shortens payoff dramatically. A 0% balance transfer or a lower-rate personal loan can cut interest if you won't run the card back up.