💳 Credit Card Payoff Calculator

About this Credit Card Payoff Calculator

Credit card interest compounds monthly on whatever balance remains, so the payment you choose decides both the finish line and the true cost of what you bought. Enter your balance, the card's APR and a fixed monthly payment, and this calculator simulates month by month to give the payoff time, total interest and the month you will be debt-free.

How to use it

1. Enter your current card balance.
2. Enter the APR from your card statement (per year).
3. Enter the fixed amount you can pay every month.
4. Click Calculate payoff — and try a slightly bigger payment to see how much interest it saves.

Example

A balance of 50,000 at 36% APR with payments of 5,000 a month clears in about 13 months, costing roughly 9,300 in interest on top of the balance.

Frequently asked questions

Why does a small payment never clear the card?

If your payment is less than one month's interest, the balance grows instead of shrinking. The calculator warns you when that happens.

Does this assume I stop using the card?

Yes — the simulation assumes no new spending and the same payment every month. New purchases will push the payoff date later.

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