Credit Card Payoff Calculator
Estimate how long it will take to pay off a credit card balance and how much interest you may pay.
How this calculator works
How to use this calculator
Enter your credit card balance, APR, and planned monthly payment. The calculator estimates how long payoff may take and how much interest you may pay.
Formula used
The calculator applies monthly interest using APR ÷ 12, then subtracts your monthly payment. It repeats this month by month until the balance reaches zero.
Example calculation
For a $3,000 balance at 22% APR with a $150 monthly payment, the estimated payoff time is about 2 years and 1 month, with about $642.67 in interest.
What the result means
The result estimates payoff time and interest if the APR and monthly payment stay constant. Actual credit card billing may vary by issuer, fees, minimum payment rules, and payment timing.
Frequently asked questions
Why does a low payment show an error?
If the monthly payment is not higher than the monthly interest, the balance may not go down.
Does this include new purchases?
No. It assumes you do not add new purchases to the card.
Does this match my exact credit card statement?
It is an estimate. Your statement may use daily interest, fees, and billing-cycle rules.