Credit Card Payoff Calculator
Find out how long it takes to clear a credit-card balance for a given monthly payment (or the payment needed to be debt-free by a target date) plus the total interest. Runs entirely in your browser.
Time to pay off
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Show the math
For a fixed payment, the number of months to clear the balance is:
n = −log(1 − r·B / P) / log(1 + r)
B = balance · r = APR ÷ 12 · P = monthly payment. If the payment is smaller than one month’s interest (P ≤ r·B) the balance grows and the card is never paid off. For a target date the tool instead solves for the level payment that clears the balance in the months you choose.
What this does
A credit card payoff calculator finds how long it takes to clear a balance for a given monthly payment (or the payment needed to be debt-free by a target date) plus the total interest you will pay.
How to use it
- Enter your balance and the card APR.
- Choose a fixed monthly payment, or a target payoff time.
- Read the months to payoff (or required payment).
- See the total interest you will pay.
How it works
Interest accrues monthly on the balance at APR ÷ 12. Each payment covers that interest first, and the rest reduces the balance. If your payment is below the monthly interest, the balance grows instead of shrinking.
Understanding your result
Small minimum payments can keep you in debt for years. Paying meaningfully above the interest charge each month is what actually clears the balance.
Example
A $5,000 balance at 22% APR paid at $150 a month takes about 47 months and roughly $1,950 in interest; paying $250 a month clears it in about 24 months.
Sources & methodology
- Consumer Financial Protection Bureau, Credit Cards, How card interest and payments work
- Federal Reserve, Consumer Credit (G.19), Average credit card interest rates
Last updated .
Frequently asked questions
How long will it take to pay off my card?
Enter your balance, APR, and a fixed monthly payment, and the tool solves how many months it takes to reach a zero balance and the total interest you will pay along the way.
How do I find the payment for a target date?
Switch to the "pay off by a set time" mode and enter the number of months. The tool returns the level monthly payment that clears the balance in exactly that time.
Why does a small payment never pay it off?
If your payment is less than the monthly interest, the balance grows instead of shrinking. The tool flags this, you need to pay more than the interest charge each month to make progress.
Do you keep my information?
No. All math happens in your browser; nothing you type leaves your device.
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