Credit Card Payoff Calculator
Find your payoff date and total interest, and see what an extra payment each month saves.
Month-by-month simulation with monthly compounding. Last reviewed October 4, 2026. Sources · Methodology
How the payoff time is calculated
Each month the calculator does two things, and repeats until the balance is zero:
- Adds interest: balance × (APR ÷ 12).
- Subtracts your payment (your regular payment plus any extra amount).
The number of months it takes is your payoff time, and the interest added along the way is the total interest. The calculation is run twice, with and without the extra payment, to show what the extra amount saves.
Worked example: $5,000 balance at 22% APR
- Paying $150 a month: 52 months and $2,798 in interest.
- Paying $250 a month ($100 extra): 26 months and $1,286 in interest.
- The extra $100 saves 26 months and $1,512.
How the monthly payment changes the outcome
| Monthly payment | Months to pay off | Total interest |
|---|---|---|
| $100 | 137 | $8,678 |
| $150 | 52 | $2,798 |
| $200 | 34 | $1,750 |
| $300 | 21 | $1,022 |
| $500 | 12 | $574 |
The first month's interest on this balance is $91.67, so any payment at or below that amount would never clear the debt.
The minimum payment trap
A card's minimum payment is usually a small percentage of the balance plus that month's interest, with a fixed floor. As the balance falls, so does the minimum, which stretches the debt out for years. The calculator assumes 1% of the balance plus that month's interest, with a $35 floor. Change the percentage and the floor to match the terms on your statement.
On a $6,000 balance at 22% APR, paying only the minimum takes 17.9 years and costs $9,506 in interest, starting from a first payment of $170. A fixed payment does far better:
| Fixed monthly payment | Paid off in | Total interest | Interest saved vs minimum |
|---|---|---|---|
| $150 | 6.1 years | $4,913 | $4,593 |
| $200 | 3.7 years | $2,791 | $6,716 |
| $250 | 2.7 years | $1,979 | $7,527 |
| $400 | 1.5 years | $1,081 | $8,425 |
Ways to pay off a card faster
- Pay more than the minimum. Minimum payments are set low, so most of each one goes to interest.
- Pay early in the cycle or make two payments a month to reduce the average daily balance.
- Ask for a lower rate or compare balance transfer offers, taking transfer fees into account.
- Stop adding new charges to the card you are paying down.
What this estimate leaves out
- New purchases, annual fees and late fees.
- Changes in a variable APR.
- Your card's exact minimum-payment formula. Issuers differ, so the minimum-only comparison is an estimate.
Frequently asked questions
How long will it take to pay off my credit card?
It depends on the balance, the APR and how much you pay each month. Enter all three and the calculator simulates each month until the balance reaches zero.
Why does the calculator say Never?
If your monthly payment is less than or equal to the interest charged each month, the balance never goes down. Raise the payment above the first month's interest shown in the result.
How is credit card interest calculated?
Card issuers usually charge interest daily on your average daily balance. This calculator uses a monthly rate of APR ÷ 12, which is very close for planning purposes.
Should I pay the card with the highest rate or the smallest balance first?
Paying the highest APR first (the avalanche method) costs the least interest. Paying the smallest balance first (the snowball method) clears accounts faster, which some people find more motivating. Either works if you keep paying the minimum on every card.
How long does it take to pay off a credit card with minimum payments only?
Often well over a decade. With a typical minimum of 1% of the balance plus interest and a $35 floor, a $6,000 balance at 22% APR takes about 18 years. The calculator shows this next to your own plan.
Does this assume I stop using the card?
Yes. New purchases, fees and rate changes are not included.
Sources
Last reviewed October 4, 2026. Results are estimates; see our methodology and disclaimer.