Debt calculator
Credit Card Payoff Calculator
Estimate how long a card balance will take to repay and how much interest it may cost.
Your inputs
Adjust the numbers
Assumes no new purchases or fees, a fixed APR, and one payment each month. Issuers often accrue interest daily.
Estimated payoff time
2 yr 9 mo
Payoff projection
| Time | Principal paid | Interest | Balance |
|---|---|---|---|
| 1 year | $1,536 | $864 | $3,464 |
| 2 years | $3,409 | $1,391 | $1,591 |
| 2 yr 9 mo | $5,000 | $1,521 | $0 |
About this tool
Turn a monthly payment into a payoff timeline
A higher monthly payment generally reduces both payoff time and total interest because more of each later payment can go toward principal. Payments that do not exceed accruing interest cannot reduce the balance.
This estimate assumes a fixed APR, no additional purchases or fees, and one payment every month. Card issuers commonly calculate interest daily, so your statement and cardholder agreement remain the source of truth.
How it works
Estimate a payoff plan in three steps
- 1Add your balance
Enter the card balance you want to pay down.
- 2Enter APR and payment
Use the annual percentage rate and planned fixed monthly payment.
- 3Review the timeline
See estimated months, total interest, and remaining balances by year.
Common questions
Credit Card Payoff Calculator FAQ
Why does the calculator reject a low payment?
If the payment is no larger than estimated first-month interest, the balance will not begin to decline under these assumptions.
Does this account for new purchases?
No. It assumes no new charges, transfers, fees, or rate changes.
Why might my statement differ?
Issuers may use daily balances, multiple APRs, fees, changing rates, and specific payment-allocation rules.
References
Sources & references
This tool is informational and is not a substitute for professional medical or financial advice. Its methodology draws on the primary sources below.