Credit Card Payoff Calculator
Estimate how long it will take to pay off a credit card, total interest, and how much extra payments can save, or calculate the monthly payment needed for a target payoff time.
Last updated: July 2026
Extra-payment comparison
Target payoff comparisons
Generated from the same APR and balance; no term is labeled recommended.
View payoff schedule
Monthly interest and balances retain full precision internally. The final payment is limited to the remaining amount due.
Show full schedule
This uses APR ÷ 12 as a monthly planning rate. Actual statements may use daily periodic interest, average daily balance, different cycle lengths, fees, or multiple APRs.
How is credit card payoff time calculated?
Each estimated month, interest is added to the remaining balance and the entered payment is subtracted. The process repeats until the balance reaches zero. The monthly planning rate is APR ÷ 12, and the final payment is limited to the remaining amount due.
How much should I pay for a target payoff time?
Payment needed mode calculates the level monthly payment that amortizes the entered balance over the chosen whole number of months. At zero APR, the balance is divided directly by the month count.
How does an extra monthly payment change payoff?
The calculator runs two schedules: one with the regular payment and another with the regular payment plus the extra amount. It compares payoff months and total estimated interest without labeling either payment recommended.
Important model assumptions
This planning estimate assumes one starting balance and APR, no new purchases, no fees, no cash advances or balance transfers, no rate changes, and one payment each monthly cycle. Continued spending can extend payoff.
Actual issuers may calculate interest daily, use average daily balance or different billing-cycle lengths, and apply multiple APRs. Results are not an exact statement forecast.
Frequently asked questions
How long will it take to pay off my credit card?
Enter the balance, APR, and monthly payment. The calculator applies estimated monthly interest and payments until the balance reaches zero.
How much interest will I pay?
The result totals estimated interest from the generated payoff schedule.
What if my payment is less than monthly interest?
The balance will not decline under this model, so the calculator shows a warning instead of a misleading payoff date.
Can I compare an extra monthly payment?
Yes. Enter an extra amount to compare time and interest with and without it.
How much must I pay to finish in 24 months?
Use Payment needed by target and enter 24 months.
Why might my statement differ?
Issuers can use daily interest, different cycle methods, fees, and different APRs for portions of a balance.
Does this assume I stop using the card?
Yes. No new purchases or charges are modeled.