Credit Card Payoff Calculator
See how long it takes to clear a card balance.
About the Credit Card Payoff Calculator
Credit card interest compounds fast, so a small monthly payment can keep you in debt for years. Enter your balance, APR, and the fixed monthly payment you can make — the calculator shows how long until you're paid off and the total interest you'll hand over. Bump the payment up by even $50 and watch the payoff time and interest drop; it's the fastest way to see why paying more than the minimum matters.
How to use the Credit Card Payoff Calculator
- 1Enter your card balance, APR, and your monthly payment.
- 2Read the result instantly — it recalculates as you type.
- 3Adjust the numbers to model different scenarios.
Frequently asked questions
Why does paying the minimum cost so much?
Minimum payments barely exceed the monthly interest, so the principal shrinks slowly and interest keeps compounding — often doubling what you originally owed.
What if my payment is too low?
If your monthly payment is less than the monthly interest, the balance never falls. The tool flags this and shows the minimum needed to make progress.
Should I use the avalanche or snowball method?
Avalanche (highest APR first) saves the most interest; snowball (smallest balance first) builds momentum. For a single card, just pay as much as you can.