Credit Card Payoff Calculator
Time to be credit-card debt free — and the interest bill.
Months to pay off:
Total interest paid:
Total paid:
How to use this calculator
Enter your balance, APR and monthly payment, then press Calculate. Months to payoff, total interest and total paid are shown.
Worked example
A $6,000 balance at 22% APR with a $200 monthly payment takes roughly 44 months - about three and a half years - and costs close to $2,800 in interest. Raise the payment to $300 and the same balance clears in about 26 months with far less interest, because every extra dollar above the minimum attacks principal directly.
What the result means
The tool counts the months until the card reaches zero and the total interest paid along the way. If the number stretches past a few years, you are mostly paying interest early on - which is exactly why minimum payments are so dangerous.
Why paying extra matters so much
- Interest compounds monthly on the remaining balance, so a high APR snowballs.
- Payments above the minimum shorten the term far faster than they seem to.
- Transfers or consolidations only help if the new rate stays low and you keep paying the same amount.
Frequently asked questions
What if I only pay the minimum?
Minimums are usually 1-2% of the balance, so most of the payment goes to interest at first and the payoff drags on for decades on large balances.
Should I use savings to clear the card?
Usually yes if the card rate is above what your savings earn - but keep a small emergency buffer so one surprise does not push you back onto the card.