Finance / Debt
Credit Card Payoff Calculator
Find out how long it takes to pay off a credit card balance with a fixed monthly payment and how much interest you pay, or the monthly payment needed to clear it by a chosen month.
Credit Card Payoff Calculator: Each month interest of APR ÷ 12 is added to the balance and the payment comes off; the last payment covers only what is left. 5,000 at 22% APR paid at 200 a month takes 34 months and costs about 1,750 in interest. The payment to clear a balance in n months is B × r ÷ (1 − (1 + r)^−n), with r the monthly rate. Runs 100% locally in your browser with zero server file uploads.
- Category
- Business & admin tools
- Runs
- In your browser
- Cost
- Free · no sign-up
- Availability
- Ready to use
Runs entirely in your browser
Interest is charged each month at the APR ÷ 12 on the balance, then your payment comes off, and the last payment is only what is left. Real cards may calculate interest daily, add fees, or require a minimum payment that falls as the balance does, which takes far longer; paying a fixed amount, and not adding new spending, clears the card fastest.
The cost of a small payment
On 5,000 at 22% APR: 100 a month takes 137 months with about 8,678 interest; 200 a month takes 34 months with about 1,750; 300 a month takes 21 months with about 1,022. Doubling the payment from 100 to 200 saves about 6,900.
With several debts, the debt payoff calculator orders them by the avalanche or snowball method.
The real yearly cost
Interest compounded monthly at 22% APR is an effective 24.4% a year, as the APR to APY calculator shows.
Finding the monthly payment in a budget first makes the plan stick.
How to use it
- Enter the balance and the card's APR.
- Choose time to pay off and enter your monthly payment, or payment for a deadline and enter the months.
- Read the time or payment, the total interest, and the total paid.
Privacy & limitations
Your figures stay in your browser.
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Frequently asked questions
Why does paying the minimum take so long?
Minimums are set low, often a small percentage of the balance, so most of each payment goes on interest. At 22%, paying 100 a month on 5,000 takes over 11 years and costs about 8,700 in interest.
Which card should I pay first?
With several cards, pay the minimums on all and put extra on the highest APR (the avalanche method), or the smallest balance for quicker wins; the debt payoff calculator compares both.
Does a balance transfer help?
A 0% offer lets every payment reduce the balance, minus the transfer fee, if you clear it before the offer ends.
Free tool · runs in your browser · no account required