How is the payoff time calculated?

Each month interest is added at the APR divided by 12, then your payment is subtracted. The tool repeats this until the balance reaches zero, counting the months and summing the interest along the way.

Why does it say my payment is too low?

If your monthly payment is less than or equal to the first month's interest, the balance never goes down. You must pay more than the monthly interest for the balance to shrink at all.

How can I pay off my card faster?

Paying more than the minimum is the biggest lever. Raise the monthly payment here and watch the months and total interest drop. Even a small increase can save months and a lot of interest.

Does this assume I stop using the card?

Yes. The estimate assumes no new purchases and a fixed monthly payment. New charges add to the balance and extend the payoff time, so it's best to pause spending while you pay it down.

Credit Card Payoff Calculator

See how long it takes to pay off a credit card and how much interest you'll pay, based on your balance, APR, and monthly payment.

Card & payment

Balance ($)

APR (%)

Monthly payment ($)

Enter your balance, APR, and monthly payment to see how long payoff takes.

The Credit Card Payoff Calculator shows how long it will take to clear a balance and how much interest you'll pay, based on your balance, APR, and fixed monthly payment. It's a quick reality check that can motivate a faster payoff plan.

How to use the Credit Card Payoff Calculator

Enter your current card balance.
Enter the card's APR (annual percentage rate).
Enter the fixed amount you plan to pay each month.
Read the time to pay off, the payoff date, and the total interest you'll pay.

Frequently asked questions

How is the payoff time calculated?: Each month interest is added at the APR divided by 12, then your payment is subtracted. The tool repeats this until the balance reaches zero, counting the months and summing the interest along the way.
Why does it say my payment is too low?: If your monthly payment is less than or equal to the first month's interest, the balance never goes down. You must pay more than the monthly interest for the balance to shrink at all.
How can I pay off my card faster?: Paying more than the minimum is the biggest lever. Raise the monthly payment here and watch the months and total interest drop. Even a small increase can save months and a lot of interest.
Does this assume I stop using the card?: Yes. The estimate assumes no new purchases and a fixed monthly payment. New charges add to the balance and extend the payoff time, so it's best to pause spending while you pay it down.

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