Credit card payoff calculator

Estimate months and interest to pay off a credit card balance.

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Tool guide

Credit card payoff calculator: how it works

Practical information to understand the result and use this tool correctly.

About Credit card payoff calculator

Credit cards charge interest on revolving balances. A fixed payment must exceed the monthly interest or the balance never falls.

We simulate month-by-month interest accrual and payments until the balance is cleared (or a safety month cap is hit).

Fees, promotional rates, and minimum-payment rules differ by issuer—treat the output as a planning model.

How to use it

1Enter current balance, annual rate %, and monthly payment.
2Calculate months to payoff and total interest.
3Try a higher payment to see interest saved.

Frequently asked questions

Payment too low error?: If the payment is less than or equal to the first month’s interest, the balance grows. Raise the payment.
Daily vs monthly compounding?: This model uses a simple monthly rate (APR/12). Card statements may use daily balances; results can differ slightly.