Credit Card Payoff Calculator
Estimate how long to pay off a credit card, and the interest.
Estimate credit card payoff
Estimated payoff
Time to payoff
- Total interest
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- Total paid
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- Estimated final payment
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Assumes no new charges or fees and the same payment every month.
Your entries and results stay in this browser. This tool does not send, save, or add them to the page address.
How to use this calculator
Enter the current balance, purchase APR, and a fixed monthly payment. The estimate assumes no new purchases or fees and payments made monthly.
Formula and limitations
Each modeled month applies one-twelfth of the APR to the remaining balance, then subtracts the payment.
This is an estimate of a schedule, not a payoff date your issuer will honour. Real statements may use an average daily balance and a daily periodic rate, different day counts, variable rates that move with an index, promotional rates that expire, fees, and minimum-payment formulas that shrink the payment as the balance falls. When the payment reaches the card, and any new purchases, change the answer too. Use issuer statements for decisions.
Frequently asked questions
How does the estimate work?
Interest accrues monthly at APR divided by 12, then the fixed payment is applied.
Why can a payment be too low?
A payment that does not exceed monthly interest cannot reduce the modeled balance.
Does this match my issuer exactly?
Not necessarily. Issuers often calculate interest daily and may apply fees or changing rates.