Credit Card Payoff Calculator

See exactly how many months it takes to clear your balance, the total interest you'll pay, and how much you save by paying a little more — instantly, no sign-up. The formula is shown so you can trust the number.

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The average U.S. card APR is around 21%–25%.
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First-month interest at this balance: $0.00
Time to pay off
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    Total interest$0
    Total you'll pay$0

    Your balance falling to zero

    The steeper the curve, the faster you're free. Small payment increases bend it sharply.

    The minimum-payment trap vs paying more

    Same balance and APR. See how minimum-only compares to your plan and to paying a bit extra.

    StrategyTime to payoffTotal interest

    The exact formula — with your numbers

    The number of months to clear a balance at a fixed payment is:

    n = − ln(1 − r·B / M)ln(1 + r)

    B = balance · r = monthly rate (APR ÷ 12) · M = monthly payment. If M ≤ r·B, the balance grows instead of shrinking — the formula has no solution.

    How to use this credit card payoff calculator

    1. Balance & APR. Enter what you owe and your card's APR (on your statement).
    2. Monthly payment. Enter a fixed amount you'll pay every month — not the shrinking minimum.
    3. Compare. The table shows the minimum-payment trap next to your plan and the effect of paying $50–$200 more.

    What your result actually means

    Credit card interest compounds monthly on the balance you carry. Because the minimum payment falls as the balance falls, paying only the minimum can take decades and cost more in interest than the original debt. A fixed monthly payment — even a modest one — has a defined payoff date, which is why every serious payoff plan uses one.

    Frequently asked questions

    Why does minimum-only take so long?

    The minimum is roughly 1% of the balance plus interest, so it drops every month. Most of it covers interest, leaving little to reduce what you owe.

    What if my payment is less than the interest?

    Then the balance grows each month and the debt is never repaid. You must pay more than the first-month interest shown above to make any progress.

    Should I consider a balance-transfer card?

    A 0% intro-APR transfer can pause interest so more of each payment reduces the balance — but watch the transfer fee and the rate after the intro period. Re-run this tool with the new APR to compare.

    Method & sources

    • Calculation: Fixed-payment payoff via the closed-form formula above, cross-checked against a month-by-month simulation. Minimum-payment model uses 1% of balance + monthly interest, floored at $25.
    • APR & minimum-payment structure per Consumer Financial Protection Bureau (CFPB) credit-card guidance.
    • Reviewed: · Assumptions reviewed quarterly.

    Educational estimate, not financial advice. Your card's exact minimum and interest terms are in your cardholder agreement.