Credit Card Payoff Calculator
See how long a credit card takes to pay off at a fixed payment and the interest you will pay, or the payment needed to be debt free by a date.
Runs on your device
Result
Results appear here as you type.
What it does
Credit card interest compounds monthly on the remaining balance. Small increases in the payment can save years and hundreds of dollars.
How to use it
- Enter the balance and APR.
- Enter your monthly payment, or a target number of months.
- Read the payoff time and interest.
Example
The example fills in realistic values and runs the tool. Select Try an example above to see it.
When it helps
- Planning to clear card debt.
- Comparing balance transfer offers.
- Motivation to pay a bit more.
Questions
Why does the minimum payment take so long?
Minimums are set so most of the payment covers interest, keeping the balance high.
Are new purchases included?
No. It assumes you stop using the card.
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