Credit Card Payoff Calculator

Summary

Enter your balance, APR, and monthly payment to see months to payoff, total interest, and the savings from paying extra each month.

How it works

1. Enter your current credit card balance in the Balance field.
2. Enter the annual percentage rate (APR) shown on your statement.
3. Enter the minimum or planned monthly payment amount.
4. Optionally enter an extra monthly payment amount to compare scenarios side by side.
5. Select your currency and click Calculate to see months to payoff, total interest, total paid, and a full month-by-month amortization table.

Use cases

• A cardholder with a $5,000 balance at 22% APR checking whether a $200 monthly payment will ever clear the debt or just keep them treading water.
• Someone comparing what happens if they add an extra $50 per month to see how many months and dollars they save on total interest.
• A debt-payoff planner calculating the exact payoff date for each card before deciding which to avalanche or snowball first.
• A consumer evaluating whether a balance-transfer offer makes financial sense by comparing current APR payoff costs against transfer fee plus new APR.

Frequently Asked Questions