Credit card payoff calculator
See how long your card takes at the payment you make, or the payment that clears it by the date you want.
Your card
Your result
Where your payments go
Pay a little more
What each extra amount a month would save you.
- +$25Pay $205 a monthSave $993, 12 months sooner
- +$50Pay $230 a monthSave $1,602, 19 months sooner
- +$100Pay $280 a monthSave $2,317, 29 months sooner
Estimates only, based on the numbers you enter. Assumes a fixed rate, no new purchases, no fees and payments made on time. This is not financial advice.
How this calculator works
Each month we add interest to your balance (balance × APR ÷ 12), then take off your payment. We repeat that until the balance reaches zero. The last payment is usually smaller, because it only covers what's left.
Payment to clear it in n months = balance × r ÷ (1 − (1 + r)−n), where r = APR ÷ 1200
Worked example
A $6,000 balance at 24.99% APR:
| Plan | Months | Interest | Total paid |
|---|---|---|---|
| Pay $180 a month | 58 | $4,347 | $10,347 |
| Pay $250 a month | 34 | $2,403 | $8,403 |
| Clear it in 24 months ($320.20 a month) | 24 | $1,685 | $7,685 |
Questions
Why does paying only the minimum take so long?
Card minimums are usually a small slice of the balance plus that month's interest, and they shrink as the balance shrinks. Most of each early payment goes to interest. A fixed payment that stays the same as the balance falls clears the card much faster.
What if I keep using the card?
New purchases add to the balance, so the date moves later. This calculator assumes you stop adding new charges. If you can't, add your typical monthly spending to your payment amount to keep the same date.
Would a 0% balance transfer help?
It can, if you clear the balance before the promotional rate ends and the transfer fee is lower than the interest you'd save. Run your numbers here with the card's normal rate to see what you'd pay without it.
Is my information saved anywhere?
No. The math runs in your browser and nothing you type is sent to us.