Credit Card Payoff Calculator
Enter your balance, APR and monthly payment to see how long payoff takes and how much interest it costs.
What this tool does
To see how long a credit card takes to pay off, enter the balance, the APR and the amount you pay each month. The calculator shows the number of months and the total interest. To work backwards, enter the number of months you want and it gives the monthly payment. If the payment is no more than the monthly interest, the balance never falls.
Simulates monthly interest and payments until the balance reaches zero, and totals the interest.
Or solves for the level payment that clears the balance in a target number of months.
How to use it
- Choose "Monthly payment" or "Target time".
- Enter the balance and the APR.
- Enter the payment, or the number of months.
- Read the time to payoff, interest and total paid.
Why use this calculator
Answers both questions - how long a given payment takes, or what payment clears the card by a date - from the balance and APR. Card interest is high, and a small monthly payment can take years and cost a large part of the balance again in interest. Seeing the numbers shows the value of paying a little more each month.
Why we built it
We built this to answer both questions - how long a given payment takes, or what payment clears the card by a date - from the balance and APR. If you have several debts, the debt payoff calculator compares snowball and avalanche, and the budget planner finds the spare cash.
For a neighbouring job there is also the Net Worth Calculator.
Who this tool is for
- Cardholders trying to clear a balance
- Anyone choosing between minimum and fixed payments
- Households building a debt plan
When to use it
- Planning how to become debt-free.
- Comparing paying the minimum with a larger fixed payment.
- Deciding whether a balance transfer is worth it.
- Setting a payoff date and finding the payment for it.
How it works
Each month, interest equal to the balance × (APR ÷ 12) is added, then your payment is subtracted. The calculator repeats this until the balance is cleared. The closed form is n = −ln(1 − B × r ÷ P) ÷ ln(1 + r) months, where B is the balance, r the monthly rate and P the payment.
Example: 5,000 at 18% APR paying 200 a month is cleared in 32 months with about 1,314 in interest. Paying 300 instead takes 20 months and costs about 797.
It assumes no new purchases, no fees and a fixed APR. Real cards may use a minimum that falls as the balance falls, which takes much longer.
A worked example
These are the values the calculator opens with, so you can see exactly what it does with them. Change any value on the page and the result updates; the figures below come from the same calculation.
| Input | Value |
|---|---|
| I know my | Monthly payment - how long will it take? |
| Card balance | 5000 |
| APR | 22.4 |
| Monthly payment | 200 |
| Months to pay off | 24 |
| Currency symbol | $ |
With those inputs, the calculator returns:
- Time to pay off: 34 months
- That is: 2 years 10 months
- Total interest: $1,797.78
- Total paid: $6,797.78
- Interest per month at the start: $93.33
Rates and figures on this page
Figures checked on 16 October 2026. The default APR of 22.4% is in line with the Federal Reserve G.19 release, which put the average rate on US credit card accounts that were charged interest at about 22% in 2026. Your own APR is on your statement and may be higher or lower, and some cards have a separate, higher rate for cash advances.
Rates on cards change with the benchmark rate. Use the APR on your latest statement.
What you give it, and what you get back
| Item | Details |
|---|---|
| Mode | Know the payment (find the time) or know the target time (find the payment). |
| Balance and APR | The current balance and the annual percentage rate. |
| Payment or months | Your fixed monthly payment, or the months in which you want to be clear. |
| Result | Months, years, total interest and total paid. |
Issues you may run into
| What you see | Why it happens | What to do |
|---|---|---|
| "Payment does not cover the interest" | The payment is no more than a month's interest. | Pay more than the interest shown. |
| Result differs from my card statement | Statements use daily interest and billing cycles. | Treat this as a close estimate. |
| Time seems very long | A small payment against a high APR takes years. | Increase the payment to see the effect. |
| 0% APR gives round numbers | There is no interest. | The payoff time is simply balance divided by payment. |
Assumptions and limitations
- Fixed APR and fixed payments only.
- No new spending, fees or promotional rate changes.
- Not a substitute for your card issuer's figures.
Frequently asked questions
How long will it take to pay off my credit card?
Enter your balance, APR and the amount you pay each month. The calculator shows the number of months until it is clear.
How much interest will I pay?
The total interest is shown. It is the total of all payments minus the original balance.
What payment do I need to clear it in 12 months?
Switch to "Target time", enter 12 and read the monthly payment.
Why does paying the minimum take so long?
Most of a small payment goes to interest, so the balance falls slowly.
Does it include a balance transfer fee?
No. Add the fee to the balance to model it.
Is my data stored?
No. It is calculated in your browser.