Credit Card Payoff Calculator
When could this card be paid off? Start with one balance and APR, then choose a monthly payment or a debt-free target. See the interest cost and what paying extra changes.
Final payment: . Payments use full precision internally; displayed amounts are rounded to cents.
What If You Pay More Each Month?
Current Payment Plan
- Base Monthly Payment
- Planned Monthly Outflow
- Payoff Time
- Payoff Date
- Total Interest
- Total Paid
With Extra Payment
- Base Monthly Payment
- Planned Monthly Outflow
- Payoff Time
- Payoff Date
- Total Interest
- Total Paid
Monthly Payoff Schedule
Schedule: . Amounts are shown to the nearest cent; adding rounded rows may differ slightly from totals computed at full precision.
| Month | Payment Date | Beginning Balance | Payment | Interest | Principal | Ending Balance |
|---|
How This Credit Card Payoff Calculator Works
To estimate how long it takes to pay off a credit card, we apply monthly interest to the starting balance, then subtract your fixed payment. Paying more reduces the balance faster and leaves less interest to accrue in later months. No new purchases are added.
Monthly interest rate = APR ÷ 100 ÷ 12. Each month’s interest = beginning balance × monthly rate. Your payment covers that interest first; the remainder reduces principal. The last payment is adjusted to the exact remaining balance plus interest.
For a target payoff time, payment = P × r ÷ [1 − (1 + r)−n]. We then simulate that payment through the monthly schedule to check payoff. At 0% APR, the required payment is balance ÷ months.
A payment at or below first-month interest cannot reduce the balance in this model. Longer plans stop at 1,200 months (100 years) instead of showing a fake payoff date. If an extra payment makes a previously unpayable plan work, we show that plan without claiming savings against a payoff that does not exist.
Payment dates are one month after your optional start date, on the original day when possible. A January 31 start uses February’s last day, then March 31. Calendar dates are independent of your time zone. Without a start date, the calculator shows duration only.
Important Limitations
This is an estimate using a fixed APR, a monthly interest approximation, and fixed payments. It is not an issuer statement or payoff quote. Actual cards may use average daily balances, daily periodic rates, changing statement cycles, variable APRs, fees, new purchases, cash advances, promotional rates, and issuer-specific minimum payments. These are not modeled.
Your statement minimum may change as the balance changes. This single-card calculator uses the fixed monthly payment you choose; it does not model issuer minimum-payment formulas or multiple debts.
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