Credit Card Payoff Calculator
See how long a credit card balance takes to clear and the real cost of carrying it month to month.
Inputs
Result
Visual breakdown
System view
See how this fits into your full financial system.
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Formula
interest = balance × APR/12 each month. Payment reduces the rest. We loop until balance reaches zero.
Example
$4,500 at 22% APR paying $200/mo ≈ 30 months, ~$1,400 interest. Adding $75 extra ≈ 21 months and saves ~$430.
Related: Debt payoff · Avalanche · Interest
How to use
- Enter your current card balance.
- Enter the card's APR (often 18–29%).
- Enter the monthly payment you can sustain.
- Add an extra amount to see the impact on time and interest.
When it's useful
- Choosing how aggressively to pay down a card.
- Comparing the cost of carrying a balance vs. paying it off.
- Deciding whether a balance transfer is worth it.
Common examples
Common answers
- How long to pay off $5,000 at 22% APR?≈ 33 months at $200/mo, with ≈ $1,540 in interest.
- What if I only make the minimum payment?Payoff can stretch for years and total interest can exceed the original balance.
- Is a 0% balance transfer worth it?Yes, if the transfer fee is less than the interest you'd otherwise pay before the promo ends.
- Does APR or balance matter more?Both — high APR hurts faster, especially on large balances.
- How much extra should I add?Even $25–$50/mo extra noticeably cuts months and interest. Try a few values.
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Frequently asked
What's a typical credit card APR?
Often 18–29% in the US. Even 1–2% lower compounds into real savings over a long payoff.
What if I only pay the minimum?
Minimums (often ~2% of balance) barely cover interest on high-APR cards, stretching payoff to years. Always pay more than the minimum when possible.
Does this include new purchases?
No — assumes the balance doesn't grow. To make progress, pause new charges or pay them in full alongside the payoff plan.
Will a balance transfer help?
Often yes — a 0% intro APR redirects every dollar to principal. Watch transfer fees and the post-intro APR.
Should I pay this before saving?
High-APR debt usually outpaces savings returns. Keep a small cash buffer, then prioritize the card.
People also calculate
More money & work →Estimates only — not financial advice. Real card statements include fees and rate changes.