Credit Card Payoff Calculator
Find out how long it takes to clear a credit card balance and how much interest it costs, or work out the monthly payment you need to be debt-free by a set date. It runs in your browser.
Also searched as: credit card calculator · pay off credit card calculator · credit card interest calculator · debt free date calculator
Updated November 9, 2026
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How to use it
- 1
Enter balance and APR
Type what you owe and the card interest rate.
- 2
Choose a payment or a deadline
Enter a fixed monthly payment, or the number of months you want to take.
- 3
See the effect of paying more
The table shows the time and interest for higher payments.
Questions about credit card payoff calculator
Why does it say never?
When the monthly payment is no more than the monthly interest, the balance never goes down. Pay more than the interest shown.
Is it exact?
It is an estimate. Cards charge interest daily and may add fees, so your statement can differ a little.
Does it include new purchases?
No. It assumes you stop using the card while you pay it off.
Why small payments take so long
Interest is charged on what you owe, so a low payment barely dents the balance. On a 5,000 balance at 22.9%, the interest in the first month alone is about 95.42. Paying 150 a month takes 4 years 6 months and costs 3,021.92 in interest, while 300 a month takes 1 year 9 months and costs 1,075.70.
| Monthly payment | Time to pay off | Total interest | Total paid |
|---|---|---|---|
| 100.00 | 13 years 8 months | 11,307.83 | 16,307.83 |
| 150.00 | 4 years 6 months | 3,021.92 | 8,021.92 |
| 200.00 | 2 years 11 months | 1,859.78 | 6,859.78 |
| 300.00 | 1 year 9 months | 1,075.70 | 6,075.70 |
| 500.00 | 1 year | 601.58 | 5,601.58 |
Two ways to use the calculator
Choose a fixed payment to see how long it takes, or choose a deadline to see the payment you need. To clear the same 5,000 in 24 months, you would pay 261.62 a month. When the payment is no more than the monthly interest, about 95.42 here, the balance never falls and the tool says so.
The tool assumes no new purchases, a fixed rate and a monthly rate of one twelfth of the APR. Real cards charge interest daily, may add fees and can change the rate, so treat the result as a close estimate and not a statement.