Credit Card Payoff Calculator

See exactly how long it takes to pay off your credit card debt and how much interest you will pay — then compare strategies to pay it off faster.

Card Details

Current Balance

$100$50K

Annual Interest Rate (APR)

1%40%

Monthly Payment

$25$2K

Minimum Payment %

% of balance

Payoff Results

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Payoff time with your current payment

Total Interest Paid

Total Amount Paid

—

Payoff Date

Cost per $100 borrowed

Payment strategy comparison

Payoff Progress Timeline

How to use the credit card payoff calculator

Enter your balance

Input your current credit card balance, APR, and your planned monthly payment amount.

See your payoff date

Instantly see how many months until you are debt-free and exactly how much interest you will pay.

Compare strategies

See how paying $50 or $100 more per month can save hundreds or thousands in interest and years of payments.

Frequently asked questions

What happens if I only pay the minimum?

Paying only the minimum on a credit card is extremely costly. On a $5,000 balance at 22.99% APR with a 2% minimum payment, it can take over 20 years to pay off and cost more in interest than the original balance.

What is a good strategy to pay off credit card debt?

The two most popular strategies are the avalanche method (pay off highest APR cards first to minimize total interest) and the snowball method (pay off smallest balances first for psychological wins). Either beats paying minimums.

Is it worth doing a balance transfer?

A 0% APR balance transfer card can save significant interest if you can pay off the balance before the promotional period ends. Factor in the transfer fee (usually 3-5%) when calculating potential savings.

Is this calculator free?

Yes — completely free with no account or signup required.