Everything is worked out in your browser and saved only on this device. Nothing you type is sent anywhere.
About the credit card payoff calculator
Credit card interest is high, and the minimum payment is made small on purpose: it keeps you paying for years. This calculator shows the truth in two clicks.
Type your card balance and the interest rate (APR). Then choose how you want to plan:
- I pay a set amount — type what you pay each month, and see how long it takes and what the interest costs.
- I want to be done by a date — type the number of months, and see the monthly payment you need.
In both modes you also see what minimum payments only would cost, so you can see how much you save.
How to use it
- Type the card balance and the interest rate (APR)
- Choose I pay a set amount or I want to be done by a date
- Type I pay each month — or Pay it off in (months), or press 6, 12, 24, 36 or 60
- Read the time, the total interest and the date you are free
- Open More options to change how the card's minimum payment is worked out
Example: a $5,000 balance at 22% APR
| You pay each month | Time to pay off | Total interest |
|---|---|---|
| $125 | 6 years 1 month | $4,095 |
| $200 | 2 years 10 months | $1,750 |
| $300 | 1 year 9 months | $1,022 |
| $500 | 1 year | $574 |
Paying only the minimum (1% of the balance plus the interest, at least $25) takes about 19 years and costs $8,100 in interest — more than the card balance itself.
To be done in 24 months, you pay $259.39 a month and the interest is $1,225.
How the interest is worked out
Card interest is charged every month on what you owe: balance × APR ÷ 12. On $5,000 at 22% that is about $92 in the first month. If your payment is smaller than the monthly interest, the balance can never go down — the calculator tells you this.
Real cards can work a little differently (daily interest, a grace period, different minimum rules). That is why More options lets you change the minimum payment rule.
Frequently asked questions
How long will it take to pay off my credit card?
Type the balance, the APR and your monthly payment. The calculator counts the months until the balance is zero.
How much should I pay each month?
As much as you can above the minimum. Use I want to be done by a date to see what a goal like 12 or 24 months needs.
Why is the minimum payment so bad?
Because the minimum is mostly interest. As your balance goes down, the minimum goes down too — so you stay in debt for decades. A fixed payment is much faster.
Does a balance transfer help?
It can, if the new card has a 0% offer and a small fee, and you pay the balance before the offer ends. Use the calculator with the fee added to the balance.
I have several cards. What now?
Use the Debt Payoff Calculator: it compares the snowball and avalanche methods for all your debts.
Is this financial advice?
No. It is a planning tool.
Good to know
- Works with any currency — choose it at the top
- Your numbers are saved only in this browser
- Nothing you type is sent anywhere
Related tools
- Debt Payoff Calculator — all debts at once
- Loan Calculator — any loan, any term
- Budget Calculator — find the money to pay more
- Savings Goal Calculator — save for the next goal
- Emergency Fund Calculator — so the card stays paid
