FinanceLoan Loan Tools · Tool 9 of 10
Credit Card Payoff Calculator
Practical tip: with revolving cards, the minimum payment mostly covers interest. Paying even a little more each month can cut years off your payoff.
Run your numbers
Time to pay off
Total interest paid
Total paid (balance + interest)
How it works: each month the tool adds that month’s interest (balance × APR ÷ 12) and then applies your payment, repeating until the balance reaches zero. If your payment does not cover the monthly interest, the balance grows and the card is never paid off.
How to use this tool
1
Enter your current card balance — the full statement balance you want to eliminate.
2
Enter the APR exactly as your card issuer quotes it on the statement.
3
Enter the fixed amount you will pay every month, assuming you add no new charges.
4
Press Calculate. See how many months it takes and what the interest costs you — then try a higher payment to see the difference.
Keep reading: borrower guides
What Is Credit Utilization and How Does It Affect Your Score?
Can You Pay Off a Personal Loan Early?
How Do Loan Payoff Calculators Work? A Borrower’s Guide
Estimates only, not financial advice. Check final terms with your lender.