Credit Card Payoff Calculator: Interest & Payoff Date

Your estimate

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estimated time to pay off

Total interest—
Total amount paid—
First month’s interest—

Payment to finish in 24 months—
Interest at that payment—

Estimates only. Figures are rounded and assume the inputs stay the same for the whole period.

Estimates only: Results are based on the numbers you enter and simplified assumptions. They are not a loan offer, rate quote or financial advice. Actual terms depend on the lender and your situation.

How to use the credit card payoff calculator

Enter your card’s current balance, its APR (listed on your monthly statement) and the fixed amount you plan to pay each month. The calculator shows how many months it will take to reach a zero balance, the total interest you will pay and the total amount leaving your account — assuming you stop adding new charges.

Use the optional goal field to reverse the question: pick a payoff date, and the calculator returns the monthly payment needed to get there.

Why the payment amount matters so much

Credit card interest compounds on whatever balance remains. On a $6,500 balance at 22.9% APR, the first month’s interest is about $124. A $150 payment leaves only $26 to reduce the balance, while a $300 payment puts $176 toward it — which is why a modest increase in your payment can cut payoff time by years.

Strategies to pay off card debt faster

Pay more than the minimum and set it up as an automatic payment so it happens every month.
Target one card at a time using the avalanche (highest APR first) or snowball (smallest balance first) method.
Ask for a lower APR. A history of on-time payments gives you leverage.
Consider a balance transfer or consolidation loan if you qualify for a meaningfully lower rate.

Our step-by-step guide on how to pay off credit card debt explains each method, and how credit card interest works shows how to read the numbers on your statement.

Frequently asked questions

How is credit card interest calculated?

Most issuers divide the APR by 365 to get a daily periodic rate and apply it to your average daily balance over the billing cycle. This calculator uses a monthly approximation (APR ÷ 12), which lands very close to what you will actually pay.

Why does my balance barely move when I pay the minimum?

Minimum payments are often set at a small percentage of the balance plus interest, so most of the payment covers that month’s interest. Your statement is required to show how long payoff would take at the minimum — it is usually years.

What if my payment is too low to pay off the balance?

If your monthly payment is equal to or less than the interest charged each month, the balance will never go down. The calculator flags this and shows the minimum payment needed to make progress.

Is a balance transfer a better option?

A balance transfer to a card with a 0% intro APR can save a lot of interest if you can pay the balance off before the promotion ends and the transfer fee is lower than the interest you would otherwise pay. See our balance transfer guide.

Learn more

Credit Card Rewards Explained: Cash Back, Points and Miles — How credit card rewards work: cash back, points and miles, how to value them, when an annual fee is worth it and the traps that erase your rewards.
Debt Payoff Strategies: Avalanche vs. Snowball (and When to Use Each) — Compare the debt avalanche and debt snowball methods with a worked example, plus other debt payoff strategies and debt management tips to get debt-free faster.
How Credit Card Interest Works (and How to Read Your Statement) — How credit card interest is calculated — daily rates, average daily balance and grace periods — and how to read each section of your card statement.
How to Build Credit From Scratch (or Rebuild It) — How to build credit from scratch or rebuild it: secured cards, credit-builder loans, authorized user status, rent reporting and the habits that matter.