Free & private

Credit Card Payoff Calculator

Enter your balance, APR and monthly payment to see exactly how many months it takes to become debt-free and how much interest you'll pay, or solve for the payment needed to hit a target payoff time.

Your balance

Choose a fixed payment, or a payoff target.

$
%
$
$Your result will appear hereAdd your balance, APR and payment details, then select calculate.
This balance will never be paid off

Your fixed monthly payment is less than or equal to the interest charged in the first month, so the balance will not shrink. Increase your payment above the first month's interest to make progress.

Months to pay off
0
Total interest paid$0
Total amount paid$0
Time to pay off0

This simulation assumes no new charges are added to the card and that your payment is made on time every month. Real card terms, fees and minimum-payment rules can change your actual payoff time.

How to use the credit card payoff calculator

This free calculator runs entirely in your browser, so your balance and rate are never uploaded or stored. Enter your balance and APR, choose a fixed payment or a payoff-time target, and select calculate.

1. Add balance and APR

Use your current statement balance and the annual percentage rate on the card.

2. Pick a mode

Enter a payment you can afford, or a target number of months to be debt-free.

3. Review the payoff plan

See months to payoff, total interest, and total amount paid over time.

Understanding credit card interest

Credit card interest compounds monthly: each month, the card charges interest on your remaining balance, and whatever is left of your payment after that interest reduces the principal. Because interest is recalculated every month on a shrinking balance, paying more than the minimum dramatically cuts both the payoff time and the total interest paid.

Monthly interest formula

Interest = balance × APR ÷ 12 ÷ 100. Whatever remains of your payment reduces the principal that month.

Solving for a payment

Payment = balance × r ÷ (1 − (1 + r)^−months), where r is the monthly rate, used to hit a target payoff date.

Why minimum payments hurt

A payment close to the interest charge barely reduces principal, stretching payoff time and interest cost for years.

How is credit card payoff time calculated?

Each month, interest is charged on the remaining balance at APR ÷ 12, then your payment covers that interest plus reduces the principal. The calculator repeats this month by month until the balance reaches zero.

Why does it say my balance will never be paid off?

If your monthly payment is less than or equal to the interest charged in the first month, the balance cannot shrink and will grow instead. You need a payment larger than that first month's interest.

How do I find the payment needed to pay off in a set number of months?

Switch to target-months mode and enter how many months you want. The calculator uses the standard loan payment formula to solve for the fixed monthly payment that clears the balance in that time.

Is this credit card payoff calculator free and private?

Yes. It is free to use, and your balance and rate are processed locally in your browser rather than uploaded or stored by the tool.

Try another free calculator: Debt Snowball Planner, Budget Tracker, or Emergency Fund Calculator. Browse all online tools.