Credit Card Payoff Calculator
Find out how many months it will take to pay off a credit card balance at a fixed monthly payment, and how much interest you'll pay along the way.
This calculator provides estimates only and is not financial advice. Consult a qualified financial advisor for personalized guidance.
How to use this calculator
Enter your current balance, the card's APR, and the fixed amount you plan to pay each month, then click Calculate Payoff. The results show how many months it will take to reach a zero balance, total interest paid along the way, and an estimated payoff date. This assumes no new purchases and a fixed APR and payment for the entire payoff period.
How is this calculated?
The calculator simulates your balance month by month — each month's interest (balance × APR ÷ 12) is added to the balance, then your fixed payment is subtracted — until the balance reaches zero. If your payment doesn't cover the first month's interest, the balance will never shrink, so the calculator flags that instead of showing a result.
Worked example: $5,000 at 22% APR
At 22% APR, a $5,000 balance adds $91.67 of interest in the first month (5,000 × 22% ÷ 12). How long it takes to clear depends almost entirely on the fixed payment:
- $100 a month: 137 months (over 11 years) and $8,678.06 of interest, more than the original balance
- $200 a month: 34 months and $1,749.88 of interest
- $300 a month: 21 months and $1,021.60 of interest
Doubling the payment from $100 to $200 cuts the interest by about $6,900. With only $8.33 of each $100 payment going to principal in the first month, a payment barely above the interest charge keeps you in debt for years.
Why the minimum payment is a trap
Card issuers usually set the minimum payment as a small percentage of the balance plus interest, so it falls as the balance falls, and the payoff time stretches out even further than the $100 example above. Your statement shows the issuer's own estimate of how long minimum payments would take. Compare it with the result here for a fixed payment you choose. A fixed amount that stays the same as the balance shrinks is what makes the timeline finite.
With more than one card
Pay the minimum on every card and put everything extra toward one of them. Paying off the highest-APR card first (the "avalanche" method) costs the least interest overall. Clearing the smallest balance first (the "snowball" method) costs a little more but gives an early win. Run each card through this calculator separately to see how long each one takes. The calculator assumes no new purchases, so stop using a card while you pay it down, or the result won't hold.
Frequently Asked Questions
How is the payoff date worked out?
It adds the number of payments to the current month. A result of 34 payments calculated in September 2026 shows July 2029. It assumes one payment a month starting next month; if your first payment is further away, move the date back accordingly.
What if part of my balance is on a different rate?
The calculator applies one APR to the whole balance. Cards often charge a different rate on a balance transfer or a cash advance than on purchases, and payments above the minimum usually go to the highest-rate portion first. Run each portion separately with its own rate to see roughly how long each takes.
How can I pay off my credit card faster?
Increasing your monthly payment has the biggest impact, since more of each payment goes toward principal instead of interest. Try raising the monthly payment amount above to see how much time and interest you could save.
Does this calculator account for new purchases?
No. This calculator assumes a fixed starting balance, a fixed APR, and a fixed monthly payment with no new purchases added. Any new spending on the card will extend your actual payoff timeline beyond what is shown here.