Credit Card Payoff Calculator
See exactly how long it takes to pay off your balance and how much interest you'll pay.
Parameters
Results
Balance over time
Understanding credit card interest
How APR works
APR is your annual rate divided into a monthly rate applied to your balance each month. On a $5,000 balance at 22%, that's about $92 in interest the first month alone.
Minimum payments
Paying only the minimum keeps you in debt for years and costs you thousands extra. Even a small increase in your monthly payment dramatically cuts your payoff time.
Avalanche strategy
If you have multiple cards, pay minimums on all and put every extra dollar toward the highest-APR card first. This minimizes total interest paid.
Balance transfers
A 0% intro APR balance transfer can save significant interest if you can pay off the balance before the promotional period ends.
For educational purposes only. Not financial advice. Actual payoff times may vary based on fees, minimum payment changes, and other factors.