Credit Card Payoff Calculator
Find months to pay off a balance and total interest paid.
About this tool
Paying only a fixed amount toward a credit card balance each month, this calculator simulates the payoff month by month — the same way the actual balance would shrink — to tell you how long it will take and how much interest you'll pay in total.
Key Features
- Months to pay off the balance
- Total interest paid over that time
- Warns you if the payment is too low to ever pay off the balance
How to Use
- Enter your current balance.
- Enter your card's APR (annual percentage rate).
- Enter the fixed amount you plan to pay each month.
- Click Calculate Payoff.
Benefits
- See exactly how much interest a low minimum payment costs you
- Test how a higher monthly payment shortens payoff time
- Set a realistic payoff timeline before you start
Frequently Asked Questions
If your fixed payment is less than or equal to the interest charged each month, the balance never shrinks — it can even grow. You'll need to increase the monthly payment above that threshold for the balance to actually go down.
No — it assumes no new charges are added and the full payment goes toward the existing balance each month. New spending will extend the payoff time beyond what's shown here.