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.
Frequently Asked Questions
How long will it take to pay off my credit card?
It depends on your balance, APR, and monthly payment. Enter your numbers above and click Calculate Payoff to see the exact number of months and an estimated payoff date, assuming no new purchases are added to the balance.
Why isn't my payment reducing the balance?
If your monthly payment is less than or equal to the interest charged each month, the balance will never shrink — it may even grow. The calculator flags this instead of showing a result. Increasing your payment above the first month's interest amount is required for the balance to decrease.
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.