Credit Card Payoff Calculator
See how long a credit card balance will take to clear — and what the interest really costs. Enter the balance, APR, and what you pay each month.
Balance until paid off
Month-by-month payoff schedule
Every payment until the balance reaches zero.
How you compare
💳 See 0% balance-transfer card offers
Check it outWhy minimum payments hurt
At high APRs, a large chunk of each payment goes to interest, so low payments stretch a balance out for years and can more than double what you repay. Raising the monthly payment even modestly shortens the timeline dramatically — try nudging it up to see the effect.
How it’s calculated
Each month, interest = balance × monthly rate is added, then your payment is subtracted, repeating until the balance reaches zero.
Results update as you type and are estimates, not professional advice — verify important decisions with a qualified professional.
Worked example
A $5,000 balance at 22% APR paid $250/month clears in about 26 months with ~$1,286 interest.
Common mistakes
- Paying at or below the monthly interest, so the balance never drops.
- Adding new charges while paying it off.
Where it is used
- Seeing how long a balance takes to clear.
- Testing whether a balance transfer is worth it.
Frequently asked questions
Why won't my balance go down?
If your payment is at or below the monthly interest, the balance never shrinks. The calculator flags this so you can raise the payment.
Does this assume new charges?
No — it assumes you stop adding to the card. New purchases extend the payoff.
Would a balance transfer help?
Often yes. Moving to a 0% intro-APR card can cut interest sharply — factor in any transfer fee.
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