Credit Card Payoff Calculator
Estimate how long it takes to pay off your credit card and total interest paid. By Xavier Carraté · Calculator updated: September 6, 2026
Enter your credit card balance, APR and fixed monthly payment. The calculator estimates months to payoff, total interest, the final payment and the effect of a recurring extra payment.
First step. Find the balance, APR and monthly payment on your latest statement. Replace all example figures before calculating.
Calculate your payoff
Does your minimum change with the balance? Compare declining minimums and fixed payments.
The calculator will become available when loading finishes. The worked example and explanations remain available below.
Estimated time to payoff:
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Total interest paid:
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Monthly model: first payment next month, fixed APR and payments, no new charges or fees. The final payment is capped at the remaining balance plus interest. Methodology.
Fixed payments and declining minimums
For a $5,000 balance at 22% APR, a fixed $200 monthly payment clears it in 34 months with about $1,750 interest. At $300 a month, it takes 21 months and about $1,022 interest. These estimates use monthly interest rounded to cents and no new charges. A minimum that shrinks with the balance produces a different result.
Choose an extra amount that you can repeat after covering essentials and required payments. A fixed payment and a minimum that falls with the balance are different scenarios; the result depends on which rule you use.
Multiple credit cards?
For a monthly schedule you can download or print free, enter this card in the main debt payoff calculator. It accepts one to ten accounts and compares snowball with avalanche using the same budget. This page provides the single-card payoff summary.
Want to pay less interest?
- Prepare a request to your card company and ask for any proposed terms in writing.
- Check rates, fees and promotional dates before comparing payment options.
- Understand consolidation costs and trade-offs, including the payment and full term.
Compare declining minimums with a fixed payment
If your card minimum falls as the balance shrinks, a fixed payment and “the minimum plus extra” are different plans. See the difference here. Use your card agreement to choose the formula; the starting values only illustrate the calculation.
Look for “minimum payment” in your card agreement. The formulas below use the opening monthly balance. The percentage supports up to two decimals. Use a decimal point without thousands separators. All money is USD.
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How this is calculated
Each month adds interest on the opening balance, rounded to cents. For the percentage-plus-interest formula, add monthly interest to the rounded percentage of the opening balance, then take the larger of that sum and the dollar floor. For the percentage-only formula, take the larger of the rounded percentage and the floor. Then the monthly extra is added. Payments never exceed the amount owed. The model stops at 1,200 months or its supported amount limit.
Example: with $5,000, 24% APR, 1% plus interest and a $25 floor, first-month interest is $100 and the minimum is $150. The balance becomes $4,950. Next month’s interest is $99 and the minimum is $148.50. A fixed $150 payment keeps the same amount.
These formulas are illustrative: they exclude fees, arrears, new purchases, multiple rates and daily interest. Your actual statement may differ. If minimums do not fit your budget, consider contacting your issuer before choosing a lower payment.
CFPB: what to do if you cannot pay a card bill · Full declining-minimum example
Help with a specific card problem
Choose the problem in front of you. Each guide includes an example and a worksheet you can use without an account.