Credit Card Payoff Calculator
Calculate how long it will take to pay off your credit card balance and the total interest you will pay.
Credit Card Payoff Calculator
Calculate how long it will take to pay off your credit card balance and the total interest you will pay.
Real-World Examples
You have a $5,000 balance at 19.99% APR and pay $200/month. How long to pay off?
33 months, $1,453.76 interest
You have a $3,000 balance at 22% APR and pay only $90/month. How long to pay off?
49 months, $1,348.52 interest
You have a $8,000 balance at 18% APR and pay $500/month. How long to pay off?
19 months, $1,204.36 interest
Common Mistakes to Avoid
Paying only the minimum
Fix: Minimum payments are often just 1-3% of the balance, mostly covering interest. It can take decades to pay off a balance this way, costing far more in interest than the original purchases.
Ignoring the effect of new purchases
Fix: This calculator assumes no new charges. Continuing to use the card while paying it down extends the timeline and increases total interest paid.
Forgetting about fees and rate changes
Fix: Late fees, annual fees, and penalty APRs can reset your progress. A single late payment may trigger a much higher penalty rate, significantly increasing your payoff time.