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
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
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.