Credit Card Payoff Calculator
Enter your balance, APR and either the amount you can pay each month or when you want to be free of the debt. We do the rest.
This calculator gives estimates for information only. It is not financial, tax or legal advice. Real results depend on lender terms, fees and local rules.
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The formula
Each month: interest = balance x (APR / 12). Balance = balance + interest - payment. Repeat until the balance is zero.
Why minimum payments take forever
A minimum payment is often little more than the interest, so the balance barely moves. If your payment is lower than the monthly interest, the debt grows. We warn you when that happens.
An example
A 5,000 balance at 20 percent APR costs 83.33 a month in interest. Paying 200 a month clears it in 2 years and 9 months with about 1,522 in interest. Paying only 100 a month takes about 9 years and costs around 5,840 in interest, more than the original balance.
Two ways to attack debt
- Avalanche: put extra money on the card with the highest rate. It saves the most interest.
- Snowball: clear the smallest balance first. It saves less, but the quick wins keep many people going.
A balance transfer card with a low or zero introductory rate can also help, provided you clear the debt before the offer ends and check the transfer fee.
Examples to check
Type these into the calculator above to see how it behaves. Every result below was produced by the same calculator code that runs on this page.
| What you enter | What you get |
|---|---|
| Card balance ($): 5000; APR (%): 20; Monthly payment (find the payoff time); Monthly payment ($): 200 | Time to pay off: 2 years 9 months (33 payments) |
| Card balance ($): 5000; APR (%): 20; Monthly payment (find the payoff time); Monthly payment ($): 100 | Time to pay off: 9 years 1 months (109 payments) |
| Card balance ($): 3000; APR (%): 24; Payoff goal in months (find the payment); Months to pay off: 12 | Monthly payment needed: $283.68 |
Credit Card Payoff Calculator: frequently asked questions
Should I pay the card off or save?
Keep a small emergency fund, then put extra money on the card. A 20 percent card rate is far more than a savings account pays.
Is this financial advice?
No. It gives an estimate from the numbers you enter. Real offers depend on fees, tax and the lender or provider, so check the terms before you commit.
Is what I enter in this calculator saved or sent anywhere?
No. The calculation runs in your browser, so what you enter is not sent to our servers. We only count, anonymously, whether a tool ran successfully.
Is this calculator free to use?
Yes. It is free, needs no sign-up and has no usage limit.
Last reviewed: October 3, 2026